Machine Learning applications for international trade

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Global challenges and shifting trends in e-commerce mean that managing the flow of international goods is becoming increasingly demanding and complex. The rapid growth of freight to local fulfilment centres for global sales platforms such as Amazon and AliExpress exacerbates this. Across the fragmented global logistics industry, customs processing costs are spiralling, and delays are becoming endemic. Trading companies, customs brokers, and freight forwarders urgently need solutions which remove the bottlenecks from their customs processes that cost the global industry billions of pounds.The market opportunity is enormous: the logistics industry handles \>£13.5tn in goods annually; with UK cargo imports \>£500bn (25% with the EU). International incoming parcels create £3.8bn revenues for courier companies.Core bottlenecks stem from a continuing disconnect between national and international package coding and a lack of digitisation for analysis. Data is difficult to obtain and structure, limiting competitor solution capability.SiftyML's machine learning-powered software provides a revolutionary solution which will disrupt the global logistics industry, with a unique customs data structuring and processing tool which can become the operating system of international trade. The project will transform SiftyML's existing solution into a dynamic system adapting in real-time to worldwide changes in requirements, enabling customs brokers to process parcels accurately and swiftly, addressing critical bottlenecks, and increasing efficiencies and revenues. It will disrupt the state-of-the-art, with advanced machine learning unleashed on a massive dataset of real-time customs data to predict, assess and suggest information that can increase the efficiency of goods moving across borders, radically reducing processing times from weeks to days, days to hours, and hours to seconds. SiftyML's algorithms can enable 95% of straightforward parcels to be processed with minimal human effort, freeing up experienced customs officials to concentrate on the 5% of complex parcels which require their expertise, supported by SiftyML's automation and insights to augment the human process. The market opportunity is enormous: the logistics industry handles \>£13.5 trillion in goods annually; with UK cargo imports \>£500 billion (25% with the EU). International incoming parcels create £3.8 billion in revenues for courier companies, but profit margins are tight with existing bottleneck solutions requiring costly staff time and effort.