Freight Technologies Inc. (NASDAQ: FRGT) Enters New Stage With Dedicated AI Development Division

• Texas-headquartered Freight Technologies (aka Fr8Tech) is a technology innovation company dedicated to sustaining over-the-road (“OTR”) commercial shipments within the USMCA (formerly NAFTA) North American trading area
• The company’s core Fr8App product is a cloud-based freight matching platform that uses artificial intelligence and machine learning to help shippers and carriers match up their loads, capacity, and destinations
• Fr8Tech is growing its artificial intelligence development, appointing Dr. Umberto León-Domínguez to oversee the creation of a dedicated AI department
• Fr8App was recently cited by Google Maps Platform’s blog as an innovative use of advanced markers from the platform to interactively help end users track the progress of their shipments

Commercial freight transportation technology developer Freight Technologies (NASDAQ: FRGT), aka Fr8Tech, is quickly moving toward the next stage in its evolution by incorporating artificial intelligence controls into its infrastructure, beginning with the appointment of Dr. Umberto León-Domínguez to oversee the creation of a dedicated AI development department within Fr8Tech.

León-Domínguez’s appointment as the director of the company’s AI division was announced May 23, heralding growth goals for the company’s existing AI solutions for cross-border and domestic shipping as well as plans to develop new AI functionalities for the supply chain industry (https://ibn.fm/Poauz).

Fr8Tech’s family of brands works together to sustain efficient, transparent and effective merchandise shipments throughout the United States-Mexico-Canada Agreement (USMCA, formerly NAFTA) trade area.

León-Domínguez will oversee the company’s global AI operations from Fr8Tech’s operations center in Monterrey, Mexico.

“The vision of a future where AI fundamentally transforms goods transportation is exhilarating. In particular, the emergence of autonomous trucks and unmanned aerial vehicles holds the promise of increasing delivery efficiency and significantly reducing labor costs,” León-Domínguez stated in a recent company news release (https://ibn.fm/f2i6X).

“The shift towards the shared economy is also reshaping the warehousing industry,” he added. “In response to this, AI and robotics are increasingly being implemented in warehouse environments, from optimizing management to improving the precision of operations, thereby enhancing productivity and contributing to a safer work environment.”

Fr8Tech’s B2B freight matching platform Fr8App is the company’s core product. It is a solution powered by AI and machine learning that helps shippers and carriers grow by simplifying the once-complex process of international over-the-road (“OTR”) shipping. 

Fr8App allows shippers to post their USMCA-destined load with price and amount details, promptly matches it to a secure carrier, and then tracks it in real time en route to its destination with regular updates.

Following Google’s annual developer conference, Google Maps Platform’s blog (Google I/O 2023 Series) took note of Fr8App’s use of advanced markers from Google Maps Platform to help end users track the progress of their shipments through the various stages of the transport, citing it as an example of early adoption of leading-edge technology to create interactive and insightful visual experiences.

“Our priority is always the end user,” Fr8Tech CEO Javier Selgas stated (https://ibn.fm/0vYto). “We are constantly looking for new ways to improve their experience, and the implementation of the advanced markers capability from Google Maps Platform has been a key factor in achieving this … helping them save time and money while increasing engagement.”

For more information, visit the company’s website at www.Fr8Technologies.com and its matching platform information site at www.Fr8.app.

NOTE TO INVESTORS: The latest news and updates relating to FRGT are available in the company’s newsroom at https://ibn.fm/FRGT

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