Transportation: BofA conf kick-off w/ Mastery’s Silver: AI drives efficiency, Autonomy will reshape

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Transportation: BofA conf kick-off w/ Mastery’s Silver: AI drives efficiency, Autonomy will reshape

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Transportation

BofA conf kick-off w/ Mastery’s Silver: AI

drives efficiency, Autonomy will reshape

Industry Overview

Brokers paid to take risk; Liability drives scale advantage 12 May 2026

We kicked off our 33rd Annual BofA Industrials, Transportation & Airlines Key Leaders Equity

conference in NYC on Monday evening with Mastery Logistics Systems’ Founder & CEO United States

Jeff Silver, whose proprietary technology systems have powered some of the largest Rail Transport/Railroads

logistics companies in North America (including CHRW and RXO) for decades. Mr. Silver Ken Hoexter

emphasized that in the face of rapid AI transformation, freight brokerage core Research Analyst

economics remain unchanged—as brokers are paid to take absorb risk and guarantee BofAS+1 646 855 1498

capacity, not simply transact freight more efficiently. Thus, relationships and execution ken.hoexter@bofa.com

still drive value, and gross margins are ultimately tied to risk absorption, not technology. Adam Roszkowski, CFA

Research Analyst

Within this backdrop, Mr. Silver sees potential for larger, well-capitalized brokerages to BofAS

accelerate pressure on smaller players. This impact could be accelerated by a ruling in +1 646 855 5498

adam.roszkowski@bofa.com

the Montgomery v. Caribe Transport II case by June, which will decide whether federal

law supersedes negligent hiring claims against freight brokers (see our CHRW note).

AI cuts costs (not the middleman); favors scale

Mr. Silver noted that while AI is not disintermediating brokers (yet), it will continue to

drastically compress industry cost structures by eliminating non-value-added labor (order