Shares in trucking and logistics firms plunge after AI freight tool launch

SemiCab platform by Algorhythm, previously considered a ‘penny stock’, sparks ‘category 5 paranoia’ across sectorShares in trucking and logistics companies have plunged as the sector became the latest to be targeted by investors fearful that new artificial intelligence tools could slash demand.A new tool launched by Algorhythm, a former maker of in-car karaoke systems turned AI company with a market capitalisation of just $6m (£4.4m), sparked a sell-off on Thursday that made the logistics industry the latest victim of AI jitters that have already rocked listed companies operating in the software and real estate sectors. Continue reading...