Exhibitors at the Posidonia international shipping exhibition, to be held at the Metropolitan Expo in Athens from June 3 to June 7, placed special emphasis on the introduction of AI (Artificial Intelligence) in the sector.
The shipping industry, often seen as conservative in the way it incorporates technology into its operations, is on the threshold of its digital transformation, with Artificial Intelligence (AI) playing a key role.
According to Theodoros Vokos, Managing Director of Posidonia Exhibitions S.A., the demand for exhibition space from advanced technology and innovation companies that provide services to the shipping industry has increased significantly at this year’s Posidonia.
The future of Artificial Intelligence in the shipping sector
According to Vokos, a comprehensive study on the future of Artificial Intelligence in the maritime sector, entitled ‘Out of the box’, which was prepared by Lloyd’s Register and maritime innovation consultancy Thetius, shows that the market for AI systems and autonomy in the shipping industry is expected to reach 5 billion US dollars in total value by 2028.
According to the study, there are already 276 active companies operating in the field of Artificial Intelligence for shipping. The study highlights the importance of proactive investment by shipping organizations in order to enhance the understanding of Artificial Intelligence at various levels.
At the same time, special emphasis is placed on workforce education and training initiatives that will increase awareness of safety measures and regulations related to advanced technologies in the shipping sector.
EMMIS MARINE S.A., a manufacturer of electrical power supply, control and power quality systems, sees a wider climate change in the industry.
Andreas Miserlis, Owner & CEO, underlined that Artificial Intelligence is recognized as vital to meeting modern challenges.
Miserlis referred to proactive policy, aligning technology with industry needs by integrating Artificial Intelligence into research and development.
Artificial Intelligence will play a central role in meeting the technological demands of the shipping industry. Our commitment to embed AI in our R&D department and production lines reflects our proactive approach to stay ahead in the age of digital transformation, he explained.
“Artificial Intelligence is already being adopted by the shipping industry”
According to Bureau Veritas, “Artificial Intelligence is already being adopted by the shipping industry. Investments in AI leave no doubt that it is becoming a key player in the digitization of the shipping industry, offering benefits such as reduced costs, fewer risks, reduced gas emissions, improved forecasting and faster deliveries through optimized routes.”
“AI as a tool to make shipping safer and more efficient”
“AI is used as a means to make our work – and shipping – safer and more efficient,” said Laurent Henges, Vice President Digital Solutions and Transformation. Artificial Intelligence helps to optimize operations and provide improved services to customers.
Inspections on a ships reduced
AI reduces the need for physical inspections on a ship by replacing them with remote and digitally supported inspections, leveraging data to create optimized predictive inspection models, combining data extraction techniques such as OCR with Robotics Process Automation to enhance process efficiency, and enabling Generative AI (LLM Large Language Model) thus creating chatbots that help answer technical questions customers and provide faster and better service.
Sober approach to Artificial Intelligence in shipping
Any revolutionary change must be approached with caution, which is why companies like N. Bogdanos Marine Bureau Ltd. provide a sober approach to Artificial Intelligence to shipping.
Adamantios Papapetros, Vice President & CEO, underlines the prudence of the industry, which will wait for AI technology to be further tested before fully adopting it and implementing it on ships.
In conclusion, the future of Artificial Intelligence in shipping looks dynamic. As the industry moves towards digital maturity, Artificial Intelligence is set to play an increasingly pivotal role in optimizing operations, ensuring security and driving the industry towards a sustainable and technologically advanced future. The Posidonia shipping exhibition highlights the potential of Artificial Intelligence, marking the dawn of a new era in shipping innovation.
