Artificial Intelligence (AI) is seen by Splash readers as the technology having the most significant impact on maritime operations in the coming 10 years in an ongoing survey being carried out in association with Inmarsat.
AI beat out other tech making plenty of shipping headlines such as blockchain, Big Data analytics and Internet of Things in the survey that seeks to identify how ships will operate 10 years from now.
Research by British consultancy Thetius published last September estimated that the maritime AI market had nearly tripled in size in the space of just one year and was valued at $4.13bn as of six months ago, with a projected five-year compound annual growth rate of 23%.
A recent McKinsey report suggested that AI implementation can reduce forecast errors by 50% and logistics costs by 15%, while companies leveraging AI have seen inventory levels decrease by 35% and service levels improve by 65%.
“Seafarers today are faced with an overwhelming amount of information and documentation to manage,” commented Ali Demiral, chief technology officer, and AI lead at WiseStella, a digital solutions provider. “AI-powered technology can provide seafarers and shipmanagers with the tools they need to navigate these new requirements with confidence.”
“While AI presents huge opportunities, the maritime industry must first address underlying challenges such as data standardisation, cybersecurity risks, and the need for skilled personnel to manage AI-driven systems,” urged Niall Jack, director of product development at software provider Shipnet.
The industry must fully embrace digital transformation – not just AI solutions – by investing in high-quality data infrastructure and cultural shifts toward digitisation, Jack argued.
“Overpromising AI’s capabilities without resolving these foundational challenges may lead to suboptimal implementations and rejection of further new developments because of this,” Jack said.
John Ferguson, who heads up the New Globalisation department at Economist Impact, a business intelligence service, said: “In 2025 and the foreseeable future, global trade will be shaped by three forces: shifting geopolitics, climate change, and a new wave of AI and automation. Yet, businesses are not retreating from international trade but are stepping up to the challenge. Firms that stay agile and cost-efficient will have the edge. Firms that also combine risk management with AI experimentation and openness will be best placed to win in this new chapter of globalisation.”
Results from the ongoing Splash survey will be published in Ship Concept 2035, a magazine due for distribution at Nor-Shipping this June.
Ship Concept 2035 will give readers a glimpse of what is realistic for newbuilds coming out of yards 10 years from now. Taking into account regulations, fuels, information technology, seafaring skills, shipyards and charterers this unique magazine gives a big picture beyond the hype of what is practical for vessels delivering by the middle of the next decade.
Bunker selection, reskilling, and automation are some of the other topics covered in the survey.
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