Tag: Artificial Intelligence

On the sidelines of WEF meeting underway in Davos, Mr. S. Iswaran, Singapore's Minister for Communications and Information, has unveiled a model governance framework for artificial intelligence (AI), aimed to be adopted by companies in Singapore and globally, to tackle with issues that have emerged with new technology.

Despite the increasing speed of technology and innovation that is pressuring the industry, oil and gas CEOs consider technological disruption as more of an opportunity, 2018 KPMG CEO Outlook: Oil & Gas, reported. Namely, AI and robotic solutions can create models to predict behavior or results more accurately.

In mid-2017, the industry was shaken by a major cyber-attack against Maersk, the world’s largest container shipping company, which led the sector to adopt a new look at cyber security issues. 2018 validated this trend as cyber incidents continued affecting operators, ports, and shipbuilders.

Technologies as Artificial Intelligence and Blockchain could help monitor the high seas aiming the preservation of the biological diversity of the world’s oceans, according to Reuters. Diplomats began negotiations, on September, on a legally binding treaty to protect oceans. 

In an earlier insight, marine energy consultancy Wood Mackenzie identified up to US$150bn in annual operating cost savings that could be achieved in the energy and natural resources sectors through digitalisation. In its latest research, Woodmac takes a closer look at the likely digitalization impact on the upstream sector, noting that the oil and gas industry has always been at the cutting edge of technological innovation. 

ShipServ published the results of its latest research 'e-procurement in Maritime; 2021 and Beyond'. In this research ShipServ analyzes the e-procurement within the maritime industry and says that today's market evolution scores two out of 10. 50% of CPOs and CPMs still use their e-procurement systems for transactional purposes.

In a bid to increase transparency and efficiency, global agribusiness leaders Archer Daniels Midland Company, Bunge Limited, Cargill, and Louis Dreyfus Company are investigating ways to standardize and digitize global agricultural shipping transactions for the benefit of the entire industry. The companies also seek broad-based industry participation to promote global access and adoption.

Rolls-Royce and Intel revealed plans for collaboration on designs for sophisticated intelligent shipping systems to make commercial shipping safer. With a focus on safety, new ships will have systems with the same technology found in smart cities, autonomous cars and drones.

Japanese MOL announced that it has joined forces with Mitsui E&S Shipbuilding Co., Ltd. and Weathernews Inc. to launch the Fleet Optimal Control Unified System (FOCUS), a project that will gather and apply ship operation data to ensure safer, more environmentally friendly ocean transport.

International resources company BHP, announced that it will be using drones in its freight operations. The drones will conduct inspection of holds, while they will be tested to improve the safety, time and cost of ship draft readings. Drones can reduce inspection times per hold from an hour to 15 minutes.