Overhaul, a software-based, supply-chain visibility, risk, compliance, and insurance solution for the world's leading brands, has strengthened its platform with the latest AI innovation for ongoing advancements in predicting, preventing and immediately responding to in-transit shipment risk. RiskGPT is a new feature that exponentially improves incident response times and accuracy and provides corrective courses of action to those issues in real time, significantly reducing the risk of cargo theft.
An estimated $1.2 trillion in cargo value is set to move through Overhaul's platform this year. With RiskGPT in their arsenal, users can instantly and intuitively process high-risk events to better manage and mitigate a greater volume of risks. The feature is trained on extensive sources of proprietary intelligence to help Overhaul employees and customers act on events that require human intervention.
For example, an operator could ask RiskGPT how to best respond to a specific customer event with unique circumstances. Because RiskGPT's model is trained on Overhaul's extensive data, that operator will get a customized, detailed answer with a high degree of contextual accuracy that can quickly resolve the problem, and is then freed up to handle other challenging issues.
"Global cargo thefts continue to rise, and AI has been crucial in giving companies more visibility around potential incidents," said Barry Conlon, CEO and Founder of Overhaul. "But we wanted to take that a step further. Even if you can predict an issue and report on it, how do you know how to actively correct it? RiskGPT will help users do that almost instantaneously, bringing our supply chain visibility and proactive risk management capabilities to new heights. Our current theft prevention success rates were topping 98% before RiskGPT, so with it, I am confident we will bring that rate up."
RiskGPT is the latest addition to Overhaul's Risk Intelligence product line. It is made available through Overhaul's partnership with Microsoft and the Microsoft Supply Chain Center. By using its own data in conjunction with the Azure OpenAI Service Studio, Overhaul can continuously fine-tune the language model to offer unparalleled results unique and personalized for each supply chain. Keeping privacy in mind, this combination gives users the advanced language AI capabilities needed, along with the security and enterprise promise of Azure. It is just one of several developments in Overhaul's AI-driven intelligence product line that will be expanded throughout this year.
Customer excitement is already building:
"As a global shipper of high value cargo, we understand the importance of fast and effective response to in-transit shipment risk," said Kok Ee Lian, Global Supply Chain Director at Dyson. "Overhaul continues to show true innovation in its product suite and RiskGPT could be a game-changer with the potential to significantly improve our ability to manage risk with real-time response and corrective action - enabling us to better ensure the safety and security of our cargo."
"With the launch of RiskGPT, Overhaul has yet again demonstrated its commitment to driving innovation and pushing the boundaries of technology in the supply chain industry," said Mitat Aydindag, President of Arvato for North America. "We are proud to partner with a company that consistently delivers cutting-edge solutions that empower businesses to manage risk with greater agility and precision."
Overhaul's recent acquisition of SensiGuard will give customers across Latin America, Asia, and Europe access to RiskGPT to optimize supply chain operations and security worldwide.
RiskGPT will be available to an early access user group within Overhaul's global operations centers this month and the company will be bringing forward customer facing capabilities later this year. Check out a demo of RiskGPT to see how it can revolutionize your unique supply chain visibility needs.
About Overhaul
Founded in 2016 and with offices around the world, Overhaul is the only device-agnostic supply chain visibility and risk management software company. As the global leader in in-transit supply chain risk management, Overhaul transforms real-time visibility into risk management, compliance, and insurance solutions for its partners. Its software-based approach offers high configurability and efficient time-to-value to supply-chain organizations without heavy tech. Overhaul is a trusted provider for Fortune 100 companies moving freight globally across industries, such as pharmaceutical and healthca