Menlo Park, Calif., Oct. 5, 2023 – Cyngn Inc. (the “Company” or “Cyngn”) (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, has taken a leap toward addressing the ongoing labor shortage crisis with its recent partnership with Arauco, as reported by Forbes in August 2023. The article highlights the innovative approach that Cyngn is taking to tackle this pressing issue by deploying driverless forklifts in collaboration with Arauco, a leading player in the wood and pulp products industry.
Labor shortages have been a major concern across various industries, and the logistics and manufacturing sectors have been hit particularly hard. Cyngn, known for its cutting-edge autonomous technology solutions, has stepped in to provide a game-changing solution to this problem that the US Chamber of Commerce emphasizes would persist with approximately 3.5 million jobs remaining unfilled even if every unemployed person in the country found a job.
As told to Forbes, Cyngn CEO, Lior Tal, characterizes DriveMod as an artificial intelligence tool with revolutionary capabilities like ChatGPT. DriveMod uses artificial intelligence and sophisticated software to transform industries that hinge on production and movement of goods, just as ChatGPT is revolutionizing industries that hinge on communication.
Arauco recognized the opportunity to optimize its operations amid the labor shortage, and Cyngn’s expertise in autonomous technology made it the perfect partner to address this challenge. Together, the companies have embarked on a journey to integrate driverless forklifts into Arauco’s operations, culminating in a 100 unit DriveMod Forklift pre-order.
Cyngn’s collaboration with Arauco to deploy driverless forklifts is a significant step toward addressing the labor shortage crisis. By embracing innovation and automation, these companies are not only future-proofing their operations, but also setting a precedent for other industries to follow suit. As the partnership between Cyngn and Arauco continues to evolve, so will the transformative impact of autonomous technology on the world of logistics and manufacturing.