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The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. As someone deeply invested in sustainable mass transit and supply chain automation, I’m also invested in an idea that could change the world of freight transport for us all. The global supply chain is in flux. Even before new tariffs, the nearshoring trend in North America has created an urgent demand for more innovative and efficient freight solutions. However, despite automotive advances, transport logistics are riddled with inefficienciesbottlenecks at congested ports, trucks idling for hours at border crossings, and outdated infrastructure struggling to meet modern demands. But what if we could change that? What if freight could move continuously, seamlessly, and autonomously away from public roads? That’s precisely the vision behind Green Corridors, an emerging technology company tackling some of the most congested trade routes in North America. A new era for freight mobility Led by president and CEO Mitch Carlson, Green Corridors is pioneering a transformative approach to freight logistics, combining industrial automation with intelligent infrastructure. Their pilot projects under development include a 60-mile autonomous freight corridor between the Port of Houston and an inland terminal currently in feasibility stage, and a 165-mile corridor between Laredo, Texas, and Monterrey, Mexico in predevelopment stage. These projects will redefine the way goods progress across these critical trade arteries. The core of the new system is an elevated guideway system where autonomous freight shuttles traverse a dedicated track to transport cargo seamlessly over these highly congested routes. Beyond incremental improvements to trucking or rail, the solution is an entirely new paradigm for freight transport. The implications are massive: Eliminate congestion: By shifting freight movement away from roadways and onto dedicated guideways running autonomous shuttles, these corridors substantially increase safety, reduce road maintenance costs, and alleviate traffic jams that cost billions of dollars in lost productivity. Strengthen national security: The system integrates directly with U.S. Customs and Border Protection, ensuring that every shipment is pre-scanned and approved before it crosses the U.S./Mexico border. Compared to today’s manual methods, in which only about 5% of cargo is fully scanned, this would mark a monumental shift in security and efficiency. Reduce emissions: Freight shuttles vastly reduce emissions from semi-trucks. Likewise, the shuttles run at 30 mph versus 60 and run on rails versus rubber tires, using clean diesel fuel and electric propulsion. A single corridor could cut emissions by up to 75% while maintaining 24/7 operations. Productivity: The trade routes Green Corridors are targeting are money-losing scenarios for traditional transport. In the proposed new model, truckers are more productive, have a higher quality of life, and able to make more trips per day. Tailor-made for nearshoring As nearshoring increases in North American markets, Mexico has overtaken China as the leading U.S. trade partner. This trend is a positive development in many respects; however, the infrastructure challenges of ground transport continue to hinder efficiency. Laredo, the nation’s No. 1 port of entry, sees 18,500 trucks cross the border daily, often waiting up to eight hours. The high growth of this route, particularly as the U.S. moves further away from reliance on factories in Asia, has made it challenging for Laredo to meet the increasingly higher pressure to remain profitable and predictable for ground transport. Green Corridors removes these inefficiencies and sets a new standard for freight logistics in an era where predictability, security, and efficiency are paramount. A national and global vision While the Laredo-Monterrey and Houston projects are first in line, Green Corridors is eyeing a much larger transformation. As it scales, the company plans to target intelligent freight transportation corridors in major port cities such as Los Angeles, Seattle, and New York. Ultimately, the solution could scale to anywhere congested corridors are throttling economic productivity. In its next phase, the company would like to play a primary role in reshaping shipping routes worldwide. For example, Mexico’s proposed Interoceanic Corridor, a 188-mile rail project meant to compete with the Panama Canal, could potentially use the Green Corridors intelligent freight transportation system to create a more efficient alternative instead. Instead of waiting weeks for ships to queue through the canal, companies could seamlessly transport freight from the Pacific to the Gulf of Mexico in hours. The road ahead Clearly infrastructure projects of this scale don’t occur overnight, but momentum is building. Green Corridors has already submitted its presidential permit application for the Laredo-Monterrey corridor. If approved, the project could be operational by 2030, according to my interview with Carlson. The company has aligned itself with leading engineering firms (including my own organization, Chang Robotics), financial institutions, and multiple government agencies to ensure a smooth execution. This type of development is the future of freighta system that operates 24/7, doesn’t clog our highways, and enhances security, while reducing environmental impact. For businesses navigating the complexities of modern supply chains, it offers the path to a more efficient and sustainable future. In an era where logistics disruptions can mean the difference between profit and los, that future can’t come soon enough. Matthew Chang is the founder and principal engineer of Chang Robotics.
Category:
E-Commerce
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. For years, the real estate industry had lacked the data necessary to drive informed business decisions. Data is often fragmented, incomplete, or nonexistent, making it difficult for landlords and real estate professionals to analyze trends, forecast market shifts, and optimize their operations. Our research at RentRedi showed us that 90% of our landlords previously used pen and paper or spreadsheets to manage their rental properties before adopting our software, giving them little access to helpful data. With the adoption of centralized platforms like ours and other real estate technologies, data collection is skyrocketing. Investors, real estate agents, and property managers are adopting technologies that streamline operations, and in the process, those platforms are generating vast amounts of data that can be used to provide deep insights into market behaviors that benefit the landlords providing it. This data revolution presents an unprecedented opportunity for real estate businesses to make smarter, data-driven decisions, reduce risk, and drive growth. By understanding where real estate data comes from, overcoming data overload, and strategically harnessing information, real estate agents and investors can significantly improve operations and drive business growth. How to harness data and use it to your advantage Whether you sell, buy, or manage real estate, data plays a crucial role in providing opportunities for you to make more informed decisions. Effectively utilizing real estate data can lead to improved business operations and increased profitability. Rental property owners, for instance, can leverage data insights to increase on-time rent collection, get better tenants, minimize evictions, reduce vacancies, and streamline property maintenance. Insights can also help establish better operating procedures, such as utilizing 5-pronged tenant screening processes (comprehensive background checks, credit reports, criminal reports, eviction reports, and income and asset verification) to identify high-risk tenants or adjusting lease terms to encourage on-time payments. Running surveys to gather customer feedback can help owners improve understanding of renters needs and what matters most to them. Real estate agents can use the feedback to enhance their communication skills, property showing process, and negotiation strategies, leading to an upgraded overall client experience, more referrals, and repeat business. Likewise, gathering tenant feedback helps property owners understand what matters most to their customers, allowing them to enhance tenant satisfaction and retention. Finally, using a property management system that consolidates, categorizes, and analyzes data will streamline processes, and ensure easy access to critical information, so focus can remain on the most relevant metrics and trends. Specific applications of real estate data Rental property investors can leverage property management software to implement innovative solutions that benefit themselves and their tenants. For example, we analyze data to identify trends, providing it back in usable formats to improve real estate businesses. Turning data from insight into actionable guidance is key. If data reveals that renters using autopay pay rent on time 99% of the timeas opposed to an 88% on-time payment rate for those who dontyou know to offer your tenants (and advise them to set up) automatic payments to avoid missed or late payments and resulting late fees and penalties. Likewise, data may show that landlords are likely to see a 13% jump in on-time rent payments when using a credit boost feature to report on-time payments to credit bureaus, which also helps renters establish credit and raise their existing credit scores. With this information, landlords can consider offering that service to tenants. These actionable insights strengthen the landlord-tenant relationship. Where to find data sources To leverage data to improve your real estate business, you need to know where to find it. Real estate data comes from a wide variety of sources: from public records and market reports to proprietary databases and tenant interactions. To effectively mine real estate data, professionals should start by identifying key data sources relevant to their operations. For example, public records, MLS listings, and property tax assessments provide valuable market insights, while customer surveys and online reviews reveal tenant and investor sentiment. Property listings and market transactions provide data on property sales prices, listing durations, vacancy rates, and location-based demand, as well as demographic data such as neighborhood trends, population growth, and urban development. This type of data provides valuable insights into property valuation and investment opportunities. In the rental industry, tenant applications and tenant screening provide data on income, employment history, credit scores, and rental behavior, which aids in risk assessment. Meanwhile, tracking rent payments reveals payment patterns that help landlords and property managers optimize rent collection strategies. Building performance and maintenance logs also provide helpful data, especially IoT sensors and smart building technologies that track energy usage, maintenance needs, and occupancy trends, allowing for sustainability and cost reduction planning. The challenges of too much data Simply having access to this data isnt enoughits crucial to know how to extract meaningful insights from it. Data can be a powerful tool, but the sheer volume of information available can be overwhelming, particularly while simultaneously managing properties and/or growing your portfolios. Too much data can slow decision making. Organizing, interpreting, and applying the data in beneficial ways for your businesses takes time, is difficult, and can lead to analysis paralysis if done manually. Besides, raw data is not always actionable. Thats why its important to utilize analytical tools and dashboards to translate complex datasets into visual reports that make patterns and trends easily digestible and understandable. Final words The growing availability of real estate data presents both challenges and opportunities. Collecting and analyzing data from diverse sources provides professionals across the real estate industryfrom landlords to large-scale developerswith the ability to make better decisions regarding investment, property improvements, and customer satisfaction. Adopting data-driven solutions can lead to greater efficiency, improved business relationships, and increased profitability. By centralizing information, leveraging analytics, and implementing smart policies, real estate investors can harness the power of data to transform their businesses in an increasingly digital world. Ryan Barone is cofounder and CEO of RentRedi.
Category:
E-Commerce
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. The famous computer scientist Bill Joy once said, No matter who you are, most of the smartest people work for someone else. If you want to build something on the bleeding edge, you must have an open ecosystem that can pull in as many ideas as possible, skills and talents that exist beyond the four walls of your office building. This is the ethos of open source, the idea that the world is open for collaboration and that diverse people working together can create something beyond themselves. Sadly, weve lost much of this ethos over the past 30 to 40 years. Even though the digital world is built upon open source, almost none of it is open for collaboration today. Recently, open-source providers have come under fire for charging for certain open-source features. Accusations have ranged from spoiling the spirit of open source to offering loss leaders (free solutions that lock customers into APIs or networking effects that are essentially bait for higher-cost features). To explain why this is false, I must explain how weve strayed from the original open-source ethos and why charging large enterprises for certain features is imperative to creating a sustainable path forward. How we lost the open-source ethos Before open source, the term free software was used. It had a sort of anti-capitalist, anti-economic bent. In the 90s, a contingent of people came in and rebranded that as open source, forming an institute called the Open Source Initiative, opening the doors to the masses. When the internet began connecting people of all stripes and backgrounds, the open-source movement exploded. The fundamentals were simple: Anyone, anywhere could take source code, tweak it, and contribute back to the community. Today, the notion that the computational infrastructure for the world should be open for collaborative remixing and the idea that people, whether they’re startup founders or garage coders looking to tinker and customize, can work together has been largely lost. To prove it, simply try customizing your email or web browser. Even though these solutions are largely built using open-source code and operating systems, the second you make any change, all the DRM encryption protocols break down, rendering you unable to listen to music on Spotify or watch videos on YouTube. The spirit of collaboration is gone How did we lose this spirit of collaboration? Part of this shift is simply the evolving nature of software. It used to be you either uploaded or downloaded a program to your computer, and you could inspect the source code. Now, software is hosted and rendered via web browsers and user interfaces, meaning major cloud service providers can use all kinds of open-source code, but they never have to reveal it or share it with the community if they dont want to. This isnt to finger wag. Many cloud providers contribute amazing things to the open-source community. Indeed, their solutions are open in the sense that theyre free to the public. Theyre not open in that they dont accept community contributions, and they certainly wouldnt tolerate someone taking their source code and remixing it, aka forking. Finally, theres an existential clash between enterprises and maintainers, the volunteers responsible for overseeing open-source projects. When enterprise IT departments need something fixed, they call their vendor and work through the kinks. You cant do that with an open-source community. Demanding work from volunteers doesnt go over well. And besides, community maintainers dont understand enterprise needsnot in the intimate way businesses need. Thats because the open-source community wasnt born in a corporate office. It was a grassroots movement of coders wanting to create powerful, novel things. Maintaining the open-source movement requires understanding the needs of this community and the enterprises that now rely on these solutions. The solution providers that can understand both sides and thread the needle between their different needs and motivations will be the foundations of a sustainable path forward. Protect the innovation commons The term commons originates from economicsa kind of open resource thats shared and managed by the community. You can think of it as an Alpine pasture or a vibrant lake sustaining a village. Its precious but vulnerable. The innovation commons is the open-source community. If someone overfishes, overgrazes, or pollutes the commons, it harms everyone else. So, its in everyones interest to protect the commons. Open source has become increasingly expensive to sustain. For any provider, the path of least resistance is to close down the commons and sell anything valuable as a proprietary artifact. But its much more abundant to keep the commons open to as many people as possible, allowing them to benefit and contribute. As stewards of the innovation commons, rather than trying to sell every single tree, its much better if we pick some fruit and bring it to a storefronta stand at the side of the community garden. If enterprises roll up with two-ton trucks and want to take their fill of fruit and vegetables, we can absolutely give it to them and charge money to invest back into the commons to nurse a sick tree or restore fallow ground. From the outside, charging enterprises for certain open-source features may look like the same thing as selling loss leaders. However, there are a million unsexy but fundamental things required to maintain an open-source ecosystem. Bridging the gap between what the volunteer community can provide and what enterprises desperately need fuels these essential components of future innovations. Asking enterprises to pay for much-needed benefits like security, optimization, and real-time notifications is not equivalent to selling them open-source solutions with bells and whistles. Its a mutually beneficial relationship that grows the innovation commons while providing targeted solutions to companies core needs. For example, many enterprises work with older versions of Python. Tech enablers can use our expertise to apply bug fixes and security patches to these older versions, capabilities that wouldnt be possible otherwise. In turn, using those enterprise resources, we can continue shipping thousands of pieces of open source to people for free, maintaining the original spirit of open source and protecting the innovation commons. Today, less than 1% of the world’s population can write any kind of code, but AI will bring the rest of the world along. Can you imagine the potential when the other 99% can collaborate in an open envirnment by simply using natural language or modular tools? I can. And, Im infinitely excited for what the future holds. Peter Wang is the chief AI and innovation officer and cofounder of Anaconda.
Category:
E-Commerce
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