MineHub announces a predictive AI-based model that helps customers to improve visibility into their critical raw material flows with reliable ETAs for all shipments.
Vancouver, British Columbia–(Newsfile Corp. – August 24, 2023) – MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) (“MineHub” or the “Company“), a leading provider of digital supply chain solutions for the commodity markets, is pleased to announce the launch of “Enhanced ETAs”, a predictive AI-powered shipment tracking and delivery module on its platform.
Enhanced ETAs is a meticulously built, robust model that calculates Estimated Time of Arrival (ETA) for specific routes. This transformative module takes the guesswork out of logistics, enabling more precise ETA projections for given routes calculated using constantly improving machine learning algorithms and comprehensive data models.
This latest innovation from MineHub sets a new standard in supply chain management. Traditional modes of tracking, such as GPS and satellite, alone do not meet customers’ rigorous needs. By harnessing the power of data science and machine learning, MineHub can provide the comprehensive visibility that is so essential for MineHub’s customers. Enhanced ETAs helps customers to more effectively track and manage commodity shipments regardless of whether they are moving by truck, rail or ocean freight. Furthermore, the new module integrates directly and enhances existing platform modules, such as Stock and Flow and Position Report that allows customers to manage their inventory at all their locations on a short to long-term basis.
Andrea Aranguren, President & CEO at MineHub, said “Shipment tracking is incredibly important to our customers as visibility can often be unreliable and incomplete. Our customers rely on accurate data to anticipate arrivals, manage their inventories, and optimize their operations. Enhanced ETAs addresses these challenges head-on, empowering businesses with the insights they need for effective decision-making. We are at the forefront of elevating the accuracy and reliability of shipment management capabilities for our customers.”
MineHub is also using AI to improve its own internal operational efficiency. More specifically, MineHub engineers are using AI-based tools to improve productivity levels and the velocity at which they are delivering code. In addition, future AI-driven initiatives currently being evaluated include a “Stock and Flow AI Module“, a dedicated effort towards stock and flow predictive tooling which has the potential of reshaping the landscape of inventory management. By harnessing the capabilities of AI and data science, the platform could predict incoming inventory, align it with demand projections, and enable informed inventory planning. This predictive prowess optimizes resource allocation and guarantees that customers are equipped with the right amount of inventory at the right time.
MineHub’s commitment to innovation is evident in its AI-powered advancements. The new Enhanced ETAs module marks a significant stride towards a more efficient and resilient supply chain ecosystem for commodity markets.
About MineHub Technologies
MineHub provides enterprise-grade digital solutions that connect buyers, sellers and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
President & CEO, MineHub Technologies Inc.
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that are considered “forward-looking information” within the meaning of applicable Canadian securities legislation (“forward-looking statements”) with respect to MineHub including, but not limited to, statements with respect to MineHub’s future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identiﬁed by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise suﬃcient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or ﬁnancial markets, changes in laws or regulations that could have an impact on the Company’s operations, dependence on its key management personnel, the risk that predictive AI solutions do not accurately consider changing variables and market competition. Other risk factors are identified in the Company’s management discussion and analysis, available on the Company’s SEDAR+ profile at www.sedarplus.ca. There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub’s management on the date the statements are made. However, except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change.
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