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Freight Technologies Launches AI Tendering Bot to Revolutionize and Streamline Load Tendering Process

1. Fr8Tech launched AI Tendering Bot to automate load tendering processes. 2. The move emphasizes a shift to a Software-as-a-Service model. 3. AI technology enhances efficiencies and reduces operational costs for clients. 4. Successful pilot tests confirm the bot's accuracy and reliability. 5. Integration with Fleet Rocket boosts the platform's value proposition.

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FAQ

Why Bullish?

The launch of the AI Tendering Bot demonstrates an innovative leap, similar to companies like Amazon integrating AI in logistics, which previously boosted their stock value.

How important is it?

The development signifies a major technological advancement, indicating a robust future for FRGT, likely impacting investor confidence.

Why Short Term?

Immediate operational improvements are expected, driving short-term gains, akin to recent AI-driven tech stocks seeing quick upticks.

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HOUSTON, March 04, 2025 (GLOBE NEWSWIRE) --  Freight Technologies, Inc. (Nasdaq: FRGT)(“Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions, today announced the launch of its advanced AI Tendering Bot, an innovative solution designed to automate and streamline the load tendering process for shippers and freight brokers. This upgrade underscores Fr8Tech's strategic pivot to a Software-as-a-Service (SaaS) model, immediately enhancing service levels and automation for its enterprise clients. The launch also reinforces the Company's commitment to operational improvements and efficiencies through new technology to reduce operating costs for both Fr8Tech and its enterprise clients. Transforming Load Tendering with Artificial Intelligence Traditionally, load tendering has relied on integrated Transport Management Systems (TMS) solutions or outdated manual processes, such as assigning loads via text messages or emails. The AI Tendering Bot changes that by leveraging advanced artificial intelligence: Identify Key Information: Seamlessly read and interpret emails, text messages, screenshots of Excel spreadsheets, and other documents containing load informationReal-Time Integration: Immediately post structured load data into the Fr8app marketplace, where carriers can instantly view and bid on available loadsReduce Manual Intervention: Automate the transcription and organization of load requests, significantly reducing the time and labor required by employees Proven Results and Seamless Integration After successfully pilot testing with several clients, the AI Tendering Bot has proven its accuracy and reliability. It is now fully integrated also with Fleet Rocket, Fr8Tech’s cutting-edge Transport Management Systems (TMS) solution for brokers, further enhancing the platform’s value proposition. This solution not only accelerates the tendering process but also delivers substantial cost savings and operational efficiencies through: Enhanced Efficiency: Accelerates response times by eliminating delays associated with manual data entryCost Reduction: Minimizes human intervention, resulting in lower operating costsImproved Accuracy: Utilizes AI algorithms to accurately capture and structure vital load informationReal-Time Visibility: Ensures load tenders are available instantly on the Fr8app marketplace, empowering carriers to bid promptly "Our new AI Tendering Bot represents a significant milestone in Fr8Tech's digital transformation journey,” said Javier Selgas, CEO of Fr8Tech. “By automating the load tendering process, we are not only driving down operational costs but also delivering faster, more reliable service to our customers. This innovation aligns perfectly with our 2025 targets: to automate our operations, enhance service levels for key enterprise clients, and expand the innovative capabilities of our SaaS TMS solution, Fleet Rocket. Developed in collaboration with Trebu.ai, a Y Combinator-backed startup specializing in AI automation, this bot leverages cutting-edge technology to streamline freight management like never before.” About Freight Technologies Inc. Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company offering a diverse portfolio of proprietary platform solutions powered by AI and machine learning to optimize and automate the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the Fr8App platform for seamless OTR B2B cross-border shipping across the USMCA region; Fr8Now, a specialized service for less-than-truckload (LTL) shipping; Fr8Fleet, a dedicated capacity service for enterprise clients in Mexico; Waavely, a digital platform for efficient ocean freight booking and management of container shipments between North America and ports worldwide and Fleet Rocket a nimble, scalable and cost-effective Transportation Management System (TMS) for brokers, shippers, and other logistics operator Together, each product is interconnected within a unified platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, brokerage support, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit fr8technologies.com. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Fr8Tech’s and Fr8App Inc.’s actual results may differ from their expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Fr8Tech’s and Fr8App Inc.’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to obtain or maintain the listing of Fr8Tech’s ordinary shares on Nasdaq; (2) changes in applicable laws or regulations; (3) the possibility that Fr8Tech or Fr8App Inc. may be adversely affected by other economic, business and/or competitive factors; (4) risks relating to the uncertainty of the projected financial information with respect to Fr8App Inc.; (5) risks related to the organic and inorganic growth of Fr8App Inc.’s business and the timing of expected business milestones; and (6) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Fr8Tech other filings with the Securities Exchange Commission. Fr8Tech cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Fr8Tech and Fr8App Inc. caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Fr8Tech and Fr8App Inc. do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.

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