On March 18, NYK presented its new initiatives, using AI and big data analysis of the dry-bulk market, at a symposium cosponsored by the Japan Shipping Exchange Inc. and the Japan Society of Logistics and Shipping Economics.
Mainly, the symposium was conducted to support cooperation between the shipping industry and the academic sector.
Experts from the shipping industry and the academic sector discussed how to jointly work to create new solutions.
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In addition, Koichiro Hayashi, manager of Bulk/Energy Research Team in NYK’s Research Group, focused on the need for timely market analysis to assist with management decisions, and how the industry could benefit from academia.
In 2018, NYK established its medium-term management plan ‘Staying Ahead 2022 with Digitalization and Green’ and set out a plan to decisively reform its dry-bulk business and improve profitability.
Using new data sources such as the Automatic Identification System (AIS), NYK aspires to benefit by making use of AI to conduct advanced market analysis and improve earnings in an ever-changing market.
NYK reports that they will continue to proactively deepen its cooperation with the shipping industry and academic sector.
