The future with AI promises smarter solutions, transforming how we work, learn, and live. From healthcare to education, AI will enhance human capabilities and automate the mundane. With responsible development, it can drive innovation while ensuring ethical progress.
Supply Chains are not a new concept. Trade has existed for centuries, and so has the need for managing how and where items are traded. With the advent of globalization, and increased complexity in items, it has never been more important for us to take a long hard look at how we manage our supply chains. Consider the humble car. The act of sitting in a one to travel, or to drive it, feels relatively. Manufacturing it, however, is no small task.
According to an article from 2010, the average car contains around 30,000 different parts, and over 10 million lines of code. With time, this complexity has only gone up, with estimates suggesting between 50,000 and 100,000 parts needed per car, and several more million lines of code to make them smarter.
It is impossible for any one company to manufacture all these components, which creates a reliance on multiple companies globally coming together to help produce
them.
To understand how much a single component can affect supply chains and consequently have tremendous negative business impacts, we only need to look as far back as 2021 – during the pandemic
Toyota and Volkswagen were unable to roll out cars because they did not have one single component – Silicon based chips needed for the code to run in smart cars.
Toyota ended up slashing global production by 40%. Ford was unable to have any production for their F150 Trucks for over a week, and saw extreme uncertainty as to when they would restart.
General Motors and Nissan were also forced to halt production for weeks
