Tech.eu writes that supply chain disruptions, such as labor issues and natural disasters, have always posed great challenges for businesses, which may only increase, as regulators demand more transparent data, as well as more equitable activity.

Prewave's sustainability-focused, AI-powered software, aims to identify and help businesses manage 140 different risk types that they might encounter. The software solution is able to measure and report information about millions of supply chain nodes.

It took Prewave engineers 10 years to research and develop the software, which uses, besides direct information available from suppliers, pieces of news and social media posts in over 400 languages to generate reports.

Backed by strong demand for more accurate and detailed supply chain reporting, especially in Europe, Prewave grew three time in 2023 and currently, over 200 companies, such as Lufthansa, Toyota and Ferrari use the company's services.

Harald Nitschinger, co-founder and Managing Director at Prewave, said that "we founded Prewave because we are convinced that data and AI can play a major role in making supply chains more transparent, resilient and sustainable - and help to power the vital currents of global economic progress. We believe that in the face of rapidly accelerating regulatory complexity, businesses shouldn’t be aiming to take a tick-box approach, but to use regulatory compliance as a vehicle to become more resilient."