FedEx invests in AI robotics company Nimble to boost its supply chain business

FILE PHOTO: A FedEx last-mile delivery van is seen near a FedEx Ground distribution center in Carson, California, U.S., September 16, 2022. REUTERS/Bing Guan/File Photo

(Reuters) - FedEx said on Thursday it has invested in AI robotics and autonomous technology company Nimble to help scale up the delivery giant's Fulfillment unit which aids small and medium-sized businesses in fulfilling orders and managing inventory.

Parcel delivery companies are ramping up investments in automation in an effort to cut down costs and boost efficiency at a time when freight demand remains subdued.