Artificial Intelligence in the Shipping
Industry: Challenges and Benefits

Everything has advantages and disadvantages, and AI is no exception. Despite the advantages, which we will go over in the following part, the fear associated with more intelligent solutions is frequently a contentious subject. Today, there are still obstacles standing in the way of AI’s general adoption, not just in the shipping sector. Before advancing and applying AI, there are a few global challenges that must be addressed and overcome.

There are four main challenges in fact:

● unification of data

● Trust problems

● constraints on my time and energies

● Lack of talent for necessary specific talents

Let’s talk about a few of the challenges facing the industry.

  1. Poor Data Quality 

For the industry to make superior decisions, shared data is essential. To the advantage of all parties concerned, the industry must get past the notion of competitive hurdles around data sharing. The industry’s adoption of artificial intelligence (AI) technology could be slowed considerably by the quality of the data available. The main goal would be to make decisions better by making data-driven insights available.

  2. Insufficient Solid Information

The absence of trustworthy information throughout the entire supply chain, which would also obstruct its development, would worsen the quality of data. Accurate data must be the source of analytical findings. Decisions based on data are only as accurate as their insights. It would be necessary to collect data properly and consistently.

  3. fear of losing one’s job

There are worries that computers and technology will affect the kinds of occupations that are displaced or generated. When AI is widely used, the type of work will probably change. Workers will have to invest time in figuring out and learning new technology at work. The industry as a whole will need to stay up with technological advancements including sensor technology, the Internet of Things, and artificial intelligence.

  4. It will take time to transform the business     through digitalization.

Transformation due to digitalization is a process. There will be delays, restrictions, and development expenses. The method will improve how to work in a more intelligent, straightforward, and effective manner.

  5. No Clearly Defined Strategy

By controlling the process step-by-step, risks can be reduced. A clear strategy is a planned course of action intended to give an advantage over rivals.