Despite some setbacks, autonomous vehicles, or AVs, are hitting the road in the forms of robotaxis, delivery robots, and self-driving trucks. Stack AV Co. yesterday announced the launch of its autonomous trucking business, which it said uses technology to improve efficiency and safety while tackling supply chain challenges for its partners and consumers.
“With customers at its core, Stack AV is focused on revolutionizing the way businesses transport goods, designing solutions to alleviate long-standing issues that have plagued the trucking industry, including driver shortages, lagging efficiency in uptime per vehicle, overarching safety concerns, high operating costs, and elevated emission levels,” stated the company.
Pittsburgh-based Stack AV said its technology—coupled with an advanced approach to safe systems design and testing—is designed to maximize trucks' uptime, optimize existing infrastructure, and improve roadway safety. The startup said it has 150 employees in 15 states with using a remote-work/co-working collaboration model, and it is hiring.
Argo AI veterans found Stack AV
“As consumer consumption patterns evolve, businesses increasingly need AI-driven, intelligent, and reliable supply chains,” said Bryan Salesky, co-founder and CEO of Stack AV. “With our proprietary technology and expertise, as well as the commitment from our long-term partner in SoftBank, we are confident we will revolutionize the trucking and freight industries by driving improvements in efficiency and safety and alleviating supply chain constraints for our customers, helping them reach their goals and advance their missions.”
In addition to Salesky, Peter Rander, president of Stack AV, and Brett Browning, chief technology officer of Stack AV, have a total of more than seven decades of experience in artificial intelligence, robotics, and autononous vehicle development. Salesky and Rander were co-founders of autonomous trucking company Argo AI LLC, which partners Ford Motor Co. and Volkswagen shut down last year.
Rander and Browning, another Argo AI alumnus, both worked at Uber Advanced Technology Group (ATG), which Uber Technologies Inc. sold to Aurora in 2020.
“We could not be more thrilled to unveil our autonomous trucking business to the world,” said Rander. “As global commerce continues to become increasingly interconnected, now more than ever, businesses have a dire need for more reliable and efficient supply chains, especially in the trucking and freight industries.”
“Leveraging our advanced AI-powered autonomous driving systems, we will improve supply chains for our customers and optimize transportation routes and energy efficiency,” he said.
SoftBank backs Stack AV
SoftBank Group Corp. said it is supporting Stack AV with capital, resources, and AI expertise to help accelerate its growth and technological developments.
“The transformative power of AI is undeniable and will have a significant impact on our society,” said Kentaro Matsui, head of the New Business Office at SoftBank Group and managing partner at SoftBank Investment Advisers.
“The next decade will be defined by AI, where all social systems will be linked by this technology to solve the most complex societal issues,” he said. “By applying the strengths of AI-powered technology to the trucking industry, Stack AV will fundamentally change the transportation of goods and supply chains across the globe.”
Estimates vary on the potential of the global market for autonomous trucks. It could expand from $1.9 billion in 2022 to $13 billion in 2028 at a compound annual growth rate of 36.92%, predicted Industry Research.
Fortune Business Insights was a bit more conservative, forecasting a CAGR of 10.8% from $33 billion in 2023 to $67.73 billion in 2030. Forbes noted that while the technology has advanced, use cases such as long-haul versus short-haul freight and adoption vary.
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