logisticstechoutlook

Here's How AI is Reforming Shipping Industry

By Logistics Tech Outlook | Wednesday, April 22, 2020

AI solutions are competent in learning several different forms, then study, scan and precisely extract terms from documents, thus reducing data entry headcount and, more importantly, reducing inaccuracies rate.

FREMONT, CA: Shipping has always been regarded as the lifeblood of the global economy, accounting for about 90 % of world trade. Among all technologies, Artificial Intelligence (AI) appears to be reasonably appealing as it can offer solutions to modernize most operations in seaborne trade. From uncrewed vessels, document processing, port services, to improving safety and plummeting impacts on the environment, the use of AI can transform maritime businesses at length.

Document Processing

Top 10 Transport Management Companies - 2019Maritime businesses have to handle a considerable amount of paperwork each day, including bill of lading, packing list, commercial invoice, bank draft, and others. Manually processing paper documents is not only expensive and time-consuming but also prone to errors.

AI solutions are competent in learning several different forms, then study, scan and precisely extract terms from documents, thus reducing data entry headcount and, more importantly, reducing inaccuracies rate.

Safety Enhancement

Enhancing journey safety is the most crucial application AI can bring to the shipping industry. The technology can assist in guiding seafarers to make well-informed decisions by analyzing information on weather patterns, crime hot spots, and port conditions. It also helps detect technical anomalies, facilitating operators to take proactive actions to evade unexpected stoppages, incidents, damages, and offer a safe working environment for workers.

Coupled with the image recognition system, AI can be employed to identify objects in the adjacent area, offer alerts when visibility is poor and reduce marine collisions between small and large vessels. Navigating becomes more easy and smart as the navigation system mechanically creates the safest route depending on incidents record and enables users to locate and trail other ships on the water.

Environmentally Sound Approaches

Although water transport is by far the most environmentally friendly means to move goods, the marine sector still aims to decrease its impact in the coming years with more stringent environmental regulations. AI can consider diverse factors to foresee the optimal route, therefore reducing carbon emissions and fuel consumption. Most autonomous ships are at present designed to be fully electric or to get power from solar and wind, which will exert positive influences on the planet.

See also: Top Artificial Intelligence Companies

Weekly Brief

Read Also