Why Artificial Intelligence Will Transform the Maritime Industry

Why AI Will Transform the Maritime Industry
September 24, 2018

In the next few years, artificial intelligence (AI) and machine learning will transform the maritime industry as major players gear up to exploit an increasingly intelligent maritime ecosystem.

Global maritime freight transportation revenue is estimated to reach US $205 billion by 2023, up from US $166 billion in 2017. In order to do this, the industry—logistics, ports, shipping etc.—will need to add AI to its armory of digital technologies.

Examples already abound, including Wärtsilä‘s recent acquisition of Transas to support its ‘Smart Marine Ecosystem’ vision; Maersk Line’s project to test AI situational awareness aboard a containership; French shipping giant CMA CGM’s partnering with San Francisco start-up Shone to explore AI aboard its ships; Stena Line’s deal with a subsidiary of Tokyo-based Hitachi to use AI to cut fuel consumption; or Orient Overseas Container Line (OOCL) teaming up with Microsoft’s research arm in Asia to use AI to improve shipping network operations.

Speaking to NauticExpo e-magazine, an OOCL spokeswoman commented:

AI is the key to our digital transformation vision. We process and analyze over 30 million vessel updates every month and by leveraging AI and machine learning, we can develop predictive analytics to help us gain a clearer picture of vessel operations.

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