J.B. Hunt Transport Inc. and UP.Labs announced the establishment of the Logistics Venture Lab (LVL), a new initiative aimed at fostering innovation in the logistics and freight industry. The venture lab plans to launch as many as six AI-enabled startups over the next three years, with the first startups targeted to begin launching in 2025.
These startups will focus on solving core strategic challenges within the industry, targeting key service areas such as brokerage, dedicated, intermodal, and truckload. The collaboration seeks to drive efficiency and address common problems faced by transportation providers through big data, generative AI, and other emerging technologies.
Shelley Simpson, President and CEO of J.B. Hunt, emphasized that this collaboration continues the company's innovation journey, seeking new ways to disrupt, adapt, and accelerate across the transportation industry. This partnership represents UP.Labs' fourth corporate collaboration, bringing its venture lab model to the logistics and freight sector.
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