AI – The Game Changing Innovation in Shipping Industry

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(Image Courtesy: Intel Newsroom)

Artificial Intelligence is nothing less than a miracle of computer science. This extended branch of computer science focuses on building smart machines that are capable of performing human-like tasks like decision-making, speech recognition etc. The prominent feature of AI, which is making it the future of industries, is that through AI, machines can be trained to perform certain tasks by processing large amount of data and also draw patterns from the processed data.

Today AI is transforming almost every industry. Right from finance and banking sector to health care, retail/Etail, higher education, energy and utilities, AI is marking its prominent place in all the leading industries and now is all set to transfigure another major industry- Maritime.

The maritime sector is responsible for carrying out 90% of the world trade and is in dire requirement of technological elevation, which the AI is capable of providing. Hence, when it comes to technological innovations for the maritime sector, Artificial Intelligence is earning the reputation of being a prime technology.

Here, we have listed top 8 ways in which Artificial Intelligence and Automation are already changing the landscape of the maritime sector:

  1. Artificial Intelligence and automation are speeding up the delivery process throughout the shipping channel. Even the retailers are now looking forward to utilizing the AI to further distribute the products, thereby shortening the delivery time and also saving on the cost.
  2. It has now become easier and accurate to predict the estimated time of arrival of the containers at the ports and also calculate the risks involved along with forecasting the spotting trends.
  3. AI has refined the existing process of analysis by eliminating the inefficiencies, errors or duplications in the data. In addition, any conflict can now be predetermined and prevented because of the automated processes.
  4. AI is also helping the ship-owners by reducing fuel consumption and maintenance costs through cloud application.
  5. AI is assisting in optimizing the terminal operations alongside planning.
  6. With the help of AI, it is now easier to mimic human perception and cognitive abilities, thus offering an easy way of controlling operations and types of equipment on-board without any requirement of actual human interference.
  7. AI and automation are also providing effective and immediate solutions in cases of natural emergencies or other adverse situations that may hamper the whole process and supply-chain.
  8. AI-based innovations are also allowing the inter-related data to flow-in from diverse sectors. Also, the cross-technology is offering a convenient usage of data in different formats.

With giants like Rolls-Royce, Maersk, Kalmar, and others showing a keen interest in the further evolution of Artificial Intelligence and Automation in the shipping industry, it is safe to say that in coming ages AI and Automation will be the ruling technologies.

In addition, AI is only going to upgrade the armoury of the maritime sector by structuring the data accurately during the challenging times in the near future, thereby enabling the industry with better and cost-effective solutions.

Considered to be a slow-moving, traditional-in-approach and fragmented sector, the shipping industry is now eyeing at some major technological innovations based on AI. In fact, the coming era may witness the creation of an entirely transformed shipping industry that will offer greater economic, environmental and social advantage.

Sea News Feature, April 15