Role and Challenges of Artificial Intelligence in the Maritime Industry

Abstract

The shipping sector occupies a major share of the global economy, this sector is accountable for the transportation of goods from different parts of the world. Shipping sector functions in a complex and challenging environment, where even a small change will result in a significant benefit to the company, nation and society. In order to stay in the competitive world, it is important to invest and implement Artificial Intelligence (AI) solutions. AI helps companies to perform automated tasks, enhance operations, and make quick and better decisions. Artificial Intelligence and Machine learning play a major role in the modern world. The shipping industry is in need of the latest IT-based infrastructure. Shipping companies across the world have to increase their revenue share and also give tough competition to the company which is related and unrelated to the business. This article tries to explain the need for AI and the role it plays in the industry.