IQAX picks up award for effective use of AI and machine learning

Acclaim for IQAX Focus highlights need for cargo monitoring solution

HONG KONG, Sept. 21, 2022 /PRNewswire/ -- IQAX Limited, a leading innovator of digital solutions for the logistics industry, is proud to announce that it has won the Gold Chain Prize for Excellent Supply Chain Innovation at the Smart Supply Chain and Logistics Innovation Summit & Expo (APAC) (SSCL), held on 20 to 21 September 2022.

The award is based on the effective use of technology such as artificial intelligence (AI) and machine learning that underpins IQAX Focus, a cloud-based solution that provides real-time tracking and condition-based monitoring of containerized cargo through a single platform.

"Technology and digitalization are key to unlock business potential, overcome the challenges of today's complex supply chains and succeed. IQAX leverages innovative technologies to develop powerful solutions for shipping and logistics in pursuit of a harmonized global trade environment," said IQAX CEO Romney Wong. "We are honored to receive the prize for Excellent supply chain innovation, a prize that highlights the many benefits that IQAX technology-driven products bring to shipping and logistics." 

The SSCL conference, the fifth this year, is a B2B platform to exchange information and facilitate business cooperation in the supply chain and logistics sectors. The conference this year focused on the digitalization of the supply chain. 

The conference is organized by SZ&W Group with guidance from the Shanghai Supply Chain Development Promotion Association. It is co-organized by Fudan University Management College  – Logistics and Supply Chain Club. It is supported by several other organizations including the Jiancai Club, the Shanghai MBA Alumni Association of Hong Kong University, The Ferryman SCM Club, and Hong Kong University – Fudan University IMBA | Medical and Health Industry Club. 

IQAX is a global information technology company that provides intelligent digital transformation solutions using blockchain and other advanced technologies. IQAX connects shippers, freight forwarders, carriers, terminals and financial institutions. The company has established strengths in IoT cold chain management, shipment tracking, and shipping planning. 

IQAX's IoT supply chain management solution IQAX Focus innovatively tackles customers' pain points around the lack of visibility into the status and condition of cargo. IQAX Focus uses AI, machine learning and the IoT to provide greater visibility, allowing users to react immediately to any disruptions and avoid losses.

IQAX recently expanded the use and capabilities of IQAX Focus to cover both reefer and dry cargo and help cargo owners and freight forwarders address a wide range of challenges, including a lack of cargo and LCL monitoring, a lack of end-to-end visibility, difficulty in obtaining smart container services and limited last-mile visibility, among others.

About IQAX  

IQAX is a global information technology company that provides intelligent and digital transformation solutions using blockchain for enterprises in the logistics ecosystem. Backed by a strong heritage in container shipping, IQAX strives to foster a harmonized and connected global trade environment. As an industry leader, IQAX connect with shippers, freight forwarders, carriers, terminals, and financial institutions, and empowers them with digitized solutions to meet emerging business challenges throughout the supply chain.   

IQAX is an independent technology company wholly owned by Orient Overseas International Ltd. (HKEX:0316), which is in turn part of Orient Overseas Container Line (OOCL), one of the largest integrated international transport and logistics companies in the world.