How AI Helps in Boosting the Maritime Economy?
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How AI Helps in Boosting the Maritime Economy?

By CIOReview | Friday, November 19, 2021
How AI Helps in Boosting the Maritime Economy?

How AI Helps in Boosting the Maritime Economy?

Summary: Artificial Intelligence (AI) is also being utilized to imitate human sensibility and cognitive capacities, which benefit user interfaces aboard ships, such as speech recognition, which aids in controlling many types of equipment onboard.

FREMONT, CA:AI has its own set of advantages and disadvantages. Despite the advantages, there are still obstacles to AI adoption. Before moving further with AI implementation, various issues must be addressed and overcome globally. The majority of this planning and execution is still conceptual, intending to add value and success to the marine business by integrating AI, which will take time. The following are some of the most notable benefits of integrating AI in the marine industry:

  • The AI allows shipping workers to build fleet management, use cases, and highly accurate prediction models with speed, depth, and accuracy that old approaches could not provide. There is no requirement for prior data science experience, and advanced techniques will aid in identifying flaws and underperformance among the terabytes of data provided by shipboard sensors.
  • Advanced approaches, such as AI, automate the extraction of critical vessel operational information from several sources, allowing shipping firm owners to focus more time on safety and data-driven revenues.
  • AI forecasts and helps to reduce costs and time and assist personnel in determining if maintenance is required immediately or can be delayed. It also indicates where, when, how, and which assets on the ship will require maintenance.
  • Weather, currents, and other potential issues are taken into account, and the most efficient path is then proposed, which is made possible by AI technology refinement. Artificial intelligence software can anticipate the most cost-effective and efficient route in terms of fuel usage.
  • AI is also being utilized to imitate human sensibility and cognitive capacities, which benefit user interfaces aboard ships, such as speech recognition, which aids in controlling many types of equipment onboard.
  • Artificial intelligence is assisting in the mitigation of risks connected with disrupted plans, such as hurricanes, tsunamis, and terror threats that could halt global ship movement.
  • A well-designed AI-based tool that offers cyber-security solutions and aids in the battle against ransomware, malware, viruses, and phishing scams, among other things. It will assist the shipping firm in responding to threats or failures, resulting in less downtime.