Eurora’s platform uses artificial intelligence and machine learning to automate the allocation of product classification codes (HS codes), which determine import duties. It will also allocate export control classification numbers (ECCN), used to determine export licenses.
Founder and Chief Executive of Eurora, Marko Lastik, explained that the company’s AI engine “can find the most appropriate response from a large amount of data by learning from constantly adding data.”
Eurora claims that its compliance platform can process ‘up to 5,000 requests per second with 98% accuracy’, which DPD hopes will improve its operations transporting goods across borders whereby countries have different trade laws.
Olivier Tsalpatouros, Senior Director of Regulatory and Global Trade Affairs at DPDgroup said: “Using AI and Machine Learning solutions will help us improve the scalability and reliability of our international operations, while paving the path for future opportunities like new customer services, new geography, and further automation.”