4 Ways Technology Is Transforming The Shipping Industry
Shipping has come a long way in recent decades, transporting up to 90 percent of the world’s trade in today’s economy, yet it has been relatively cautious to adopt new technologies. This is all about to change however, and although it is happening from many different angles, here are 4 ways new tech is about to push the shipping industry further into the digital age.
As the shipping industry is having a big transformation at a global level, Artificial Intelligence is already making things easier by integrating new shipping logistics and communication technology to evolve the business model within the shipping industry.
With the help of new algorithms, the shipping industry can rely on AI for mitigating security risks and reduce the cost of operations to a great extent. AI can also help the maritime sector to respond to and work in accordance with the new environmental regulations and policies in a better way.
Another game-changer for the industry is the use of autonomous ships. The unmanned vehicles cruising through the seas are soon going to be a reality. The major benefit of the sailor-less system will be the reduction in human-errors that would further enhance the safety at sea. It is further going to aid the communication process and improve the traffic-control system of the ships.
Big Data Analytics
Data is the new most important element of the present era. With multiple sources pouring data in abundance, Big Data Analytics will be an essential technology to improve the operations of the shipping industry. This works by deriving a correlation between the data collected from various sources and applying relevant and new algorithms, to help establish any correlation between the pieces of information, and perhaps predict future incidents.
With the world’s major industries dedicating the next decade for the reduction of their environmental footprints, the shipping industry will also have to watch out for the same. Green Technology can help the maritime sector to carry out its operations in a very cost-effective and environment friendly way. The latest alternative fuel-LNG is proving to be a smarter solution, and may be the answer to the growing environmental risks caused due to the emission of hazardous gases during transportation.
The big transformation is already at the gates and this is undeniably an exciting time for the shipping industry. It’s clear this age-old sector is realizing the power of technology as a driver for increased productivity and profitability. One thing for sure, though, is that shipping is on the cusp of a digital wave.