In the flurry of legislation passed by the federal government of late, it was easy to miss the CHIPS and Science Act, which will invest $10 billion in a host of technologies over the coming five years. While much of the focus of the Act will be on increasing semiconductor production, there is a good portion left over to help the supply chain, as well. Within that spending, is a focus on tech that can assist the supply chain, such as the internet of things (IoT) and wireless devices. The government selected these areas of investment for the visibility they can provide logistics, along with the ability for customization to organizations’ specific needs.
The investment in IoT will allow companies to better connect their physical assets via sensors, to their software and processing technologies. This allows for real-time insights and analytics as products make their way across the globe. The hope is that with such visibility, companies will be able to identify unexpected delays, alert partners to such events, and better prepare/respond to them. The government will release the funds in the form of loan guarantees and subsidies, along with grants and cooperative agreements. For more information on eligibility, check the U.S. Department of Commerce website (https://buff.ly/2MjH67P).
