Australia’s AI Sprint tackles slow supply chains with a prize pool of $500k

Supply chains are behind-the-scenes systems that businesses use to keep your favourite products moving from suppliers to stores to you.

But they face big challenges. Outdated methods, out-of-date information, and poor communication between businesses.

This can cause delays, frustrate customers and make products more expensive.

This is why Stone & Chalk has partnered with the National AI Centre and Google Cloud for Australia’s AI Sprint.

We want to give innovative people like you the support you need to develop AI solutions to fix supply chain problems – with a prize pool of up to $500k.

Here’s three main supply chain issues AI can help solve, and why you should join the AI Sprint:

Inefficiencies in the supply chain

An inefficient supply chain is like a highway jammed with traffic. Poor planning, excess stockpiles of goods, and bad delivery routes create bottlenecks that cost businesses money and test customer patience. Traditional methods rely on manual work and communication, making it hard to see everything happening in real-time. 

AI can predict customer demand, optimise inventory levels, and create better shipping routes to keep things flowing for customers.

Lack of flexibility in supply chains

Current supply chains are like cruise ships – big and impressive, but not exactly known for quick turns. Our supply chains struggle to adapt to sudden changes in demand or unexpected problems. This means businesses miss out on opportunities and fall behind competitors.

Through better scenario analysis, businesses could use AI systems to predict what might happen next. This helps them make better informed decisions to anticipate changes and stay ahead of the curve.

Supply chain impact on our environment

Businesses know they need sustainable practices, which requires far more action than simply saying they care about the planet. Traditional supply chains harm the environment with waste, pollution, and the overuse of resources.

AI can help businesses become more sustainable by optimising routes to reduce fuel consumption and supporting better recycling and remanufacturing processes. 

How can you get involved?

Australia's AI Sprint is a program to help innovators like you tackle the inefficiencies, inflexibility and environmental impact in supply chains. 

If you're interested in building your career in AI – or making a positive impact on supply chains – this is the perfect opportunity. 

Applications close 21 March 2024. Apply now. 

Supply chains are just one issue facing Australia. Read more about the other AI Sprint Opportunity Statements where you can contribute.