Columbia Shipmanagement Ltd (CSM) and the Cyprus Marine and Maritime Institute (CMMI) inked a Memorandum of Understanding for the launch of a joint innovation project that will explore the smart field of the shipping industry.
Specifically, the programme “Digital Waves” includes research and innovation in domains such as the gathering of data on ships and other stakeholders coupled with the latest trends in connectivity and artificial intelligence (AI).
The programme also includes the sensorisation of ships, augmented and virtual reality, the gathering and grooming of data using 5G & edge-cloud technologies combined with modern trends in machine learning and cognitive artificial intelligence.
The project will acquire an overall idea of shipping’s smart field and combine the technological trends, contributing to significant efficiencies, cost savings, and strategic transformation. The programme will also analyse the value-chain of the maritime sector and investigate potential transformations of the business model.
In light of the Digital Waves, Mark O’Neil, President of CSM, commented that
As we enter the new year and a new decade amid the beginning of fundamental digital transformation in shipping, we envisage, through Digital Waves, to benefit from the combination of the rise of improved and cost sustainable connectivity and digitalisation to transform every aspect of the Shipmanagement model over the next three decades with a primary focus on safety and efficiency to the benefit of our clients.
The two partners have set a team of global experts to focus on today’s market and provide innovative ideas through new products and services that will be then provided to the sector through targeted solutions.
Concluding, the project consists of three phases; the first phase involves strategic analysis of main issues faced by the maritime industry stakeholders. The second phase will involve testing and implementation in real-time maritime environments. The final phase will be the development of digital products and solutions.
