Lloyd’s Register and Thetius have issued a report to benchmark and measure the progress of digital transformation in ship operations.
The “The Benchmark: Measuring the Progress of Digital Transformation in Ship Operations” report, offers a comprehensive framework for organisations to assess their position along the digital transformation spectrum, from foundational levels to advanced data-driven decision-making. Key findings of the report include:
Creating the right culture for digital transformation begins at the top
Every ship operator needs a digital strategy, even if its ambition and scope are limited. The digitalization of maritime trade presents both opportunities for innovation and risks for those who do not adapt. For operators not planning immediate digital transformation, the ideation process focuses on risk management, preparing for shifts in expectations from charterers and cargo owners and capabilities among competitors. Therefore, digital transformation must be orchestrated at the board or C-suite level to ensure adequate oversight and foster the necessary changes in attitude and company culture.
Effective digital transformation requires dedicated resources
While understanding and awareness of digital technologies in maritime have grown, finding and applying the right digital tools remains specialized. Early investment in staff with digital skills is transformative. The most digitally mature operators typically employ a dedicated leader, such as a Chief Digital Officer (CDO) or Head of Innovation. While an IT department may overlap in duties, a generalist IT team often lacks the capacity to manage the change accompanying digital innovation. A focused leader is better equipped to handle complexity and ensure wise investment.
Embrace experimentation and pilot programs
Early adoption of new technologies demands a higher tolerance for risk. Many transformative technologies remain unproven and will only advance if ship operators partner with innovators to test hypotheses. Digitalization enables small-scale, cost-effective experiments, and the learning gained can be valuable, even if a particular technology fails to commercialize fully.
Leverage the oversight and support of external expertise
In an environment where competing interests resist sharing digital transformation insights, independent bodies play a crucial role in providing benchmarking tools. Guided self-assessment allows companies to disclose their progress without compromising their competitive position. Digital maturity varies among operators, but digitalization is essential for the future of maritime businesses. Thus, measuring progress toward digital maturity is vital.
Overall, the findings emphasize the importance of strategic alignment, adaptability, data-driven decision-making, innovation, customer-centric approaches, agile operations, collaboration, connectivity, and cybersecurity awareness.
To remind, Thetius recently published another report commissioned by LR, which explores the current state of operational AI in the shipping industry and examines the latest trends and developments in AI applications.
