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Barclays CEO Qin Yu: Future logistics is technology-driven
On July 15, 2017, the NetEase Future Technology Summit took place in Beijing. This year's theme, "New Life," highlighted how the internet industry is rebounding from the prolonged capital winter of the past two years. Major companies are speeding up their reforms, and new unicorns are emerging continuously. Young entrepreneurs are catching up and revitalizing. The internet is bringing forth an entirely new future.
The summit featured six forums, including New Technology, New Future, New Content, New Entertainment, New Consumption, AI+ Finance, AI+ Travel, AI+ Life, and AR Future. Prominent scientists, entrepreneurs, investors, and cross-border stars from both within and outside China were invited to discuss the future of artificial intelligence, consumer upgrades, and AR.
At the AI+ Travel session, Qin You, the founder and CEO of Barter, spoke about the evolution of the logistics industry. In the past, logistics relied heavily on resources such as warehousing, drivers, and vehicles. However, in the future, technology will drive logistics. Barter has invested significant resources into research and development, creating what he calls the "smart brain of the city."
Qin You emphasized transparency in logistics, addressing issues such as the lack of visibility into the transportation process. In the past, logistics was often a "black box," with no clear accountability for damaged goods or delivery mishaps. By making logistics transparent, businesses can ensure accountability and improve customer satisfaction.
He also discussed the complexity of logistics calculations compared to the travel industry. Unlike travel, where the standard is fixed (four or five seats per car), logistics involves numerous variables that require advanced technology to manage effectively. Forecasting is another critical area where logistics differs significantly. While individual consumers may face unpredictable challenges, businesses can leverage data to anticipate demand and optimize their supply chain operations.
Barter has implemented several innovative solutions. For instance, they are China's largest provider of shared bicycle distribution services, ensuring efficient management of vehicles, reverse logistics, and maintenance. Additionally, they provided support for Jingdong's 618 shopping festival, offering comprehensive warehouse and store solutions to alleviate pressure on logistics infrastructure.
Another notable project involved logistics support for the G20 Summit in Hangzhou. Given the stringent security requirements and tight deadlines, Barter's technical systems ensured seamless coordination and timely delivery of essential supplies. This experience underscored the importance of leveraging technology in logistics to meet high standards of efficiency and reliability.
In conclusion, Qin You emphasized the ongoing transformation of the logistics industry through technological innovation. Barter continues to attract strategic investors, particularly those focused on B2B logistics and supply chain management. The summit concluded with a renewed optimism about the potential of technology to reshape industries and create new opportunities.
As Qin You stated, "Today’s theme is science and technology, and we are witnessing a conference that highlights groundbreaking developments. The future of logistics lies in integrating cutting-edge technologies to enhance efficiency and service quality."