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FreightTech platform Loadsmart announced Thursday it has acquired yard and asset management provider NavTrac to leverage its computer vision capabilities.
Terms of the acquisition were not disclosed.
“Computer vision is a field of artificial intelligence that enables Loadsmart to derive meaningful information from digital images, documents, videos and other visual inputs — and take actions or make recommendations based on that information. There is massive value potential for the whole freight industry by applying this technology, especially for shippers, warehouses, yards and carriers,” Felipe Capella, founder and chief executive officer of Loadsmart, told FreightWaves.