SINGAPORE - Technology firm Ascent Solutions has invested more than $1 million to develop a solution that aims to improve transparency in the transport of commodities.
The company, which provides Internet of things (IoT) software to the logistics industry, spent about two years working on a digital twin warehouse service.
The solution will allow its clients to track the movement and storage of goods in warehouses in real time using computer vision - an area of artificial intelligence.
Mr Huang Yihang, Ascent s head of corporate strategy, said on Monday (April 12) the solution can create greater accountability in trade finance - financial instruments and products that facilitate international trade and commerce - and help small and medium-sized enterprises (SMEs) secure funding to do business.