At the recent IATA World Cargo Symposium in Dubai, Matt Petot, Founder and CEO of CargoAi, articulated how his company is leading the charge in redefining digitalisation within the air cargo sector. Speaking with STAT Media’s Libin Chacko Kurian, Petot emphasised that CargoAi extends beyond a simple booking platform. It offers an array of services including CargoMart, CargoWallet, and CargoConnect, all aimed at streamlining procurement, automating payment processes, and seamlessly integrating with Transport Management Systems (TMS). “We’re not just a marketplace. We’re an IT company solving real-world cargo challenges,” he stated, highlighting the urgency of addressing operational inefficiencies.
In an industry often dominated by the pursuit of growth, CargoAi has adopted a strategy focused on profitability and sustainability. Petot revealed that the company achieved profitability within just five years of its inception. This remarkable milestone can be attributed to their pioneering initiatives, such as the first interline booking solution in partnership with Emirates and the introduction of AI-driven rate management and dynamic pricing tools. These innovations not only enhance the user experience but also resonate with growing regulatory and consumer demands for sustainable logistics, reflected in their embedded CO₂ emission tracking feature.
Collaboration remains a cornerstone of CargoAi’s philosophy, particularly through initiatives like CargoTech, which fosters partnerships with companies such as Wiremind and Rotable. “The goal isn’t to do everything, but to do the right things together,” Petot noted, encapsulating the ethos of industry collaboration. This approach allows CargoAi to leverage complementary strengths and maximise the impact of its digital solutions.
CargoAi’s offerings extend further with its recently launched CargoWallet, a fintech solution that enhances payment processes for freight forwarders. Integrated within CargoMart and CargoConnect, CargoWallet simplifies instant search and booking capabilities without the need for traditional IATA Cass Numbers or bank guarantees. This innovation represents a significant leap towards providing freight forwarders with extended payment terms, a capability that is essential given the modern complexities of air freight. As highlighted in recent industry analyses, CargoWallet offers not only global reach but also the ability to transact in over 30 currencies, positioning CargoAi as a transformative player in the air cargo sphere.
Moreover, strategic partnerships play a crucial role in enhancing CargoAi’s suite of services. For instance, American Airlines Cargo has joined forces with CargoAi to enrich online booking offerings through CargoMart, effectively granting freight forwarders access to real-time capacity, visibility of rates, and essential functions such as quoting and Track and Trace. Similarly, Riege Software has integrated CargoAi’s Quote & Book API into its Scope TMS, allowing users to seamlessly connect with over 117 airlines for instant rate searches and bookings.
As the industry continues to navigate through the complexities of digital transformation, CargoAi’s innovative solutions and collaborative mindset offer a promising vision for the future of air cargo logistics. By addressing both operational challenges and sustainability concerns, CargoAi is not just adapting to industry shifts but actively shaping a more efficient and eco-conscious air freight landscape.
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Source: Noah Wire Services
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