To follow on from our previous article about the use of AI in the maritime industry, it is important for us to look deeper into the challenges and how they might impact the shipping industry as a whole.

Let's address a few of the challenges as they would pertain to the shipping industry.

1. Poor Quality of Data  

As an industry, there is a need for shared data to make high-quality decisions. The industry must move past the idea of competitive challenges around data sharing to benefit all involved. The quality of data in the sector could slow down its adoption of artificial intelligence (AI) technologies. The principal aim would be to improve decisions through the availability of data-driven insights.

2. Lack of “Solid Information” 

Furthering the quality of data would be the lack of reliable information across the entire supply chain, which would also prevent its development. Analytic insights need sourcing from accurate data. Data-driven decisions are only as right as their insights. Proper data collection and consistent data collection would be needed.

3. Fear of Job Replacement 

There are concerns that computers and technology will have an impact on the type of jobs being created or replaced. The kind of work is likely to shift when AI is fully adopted.

Workers will need to spend time understanding and learning new technology in their workplace. The industry as a whole will need to keep pace with the innovations of artificial intelligence, the Internet of things, sensor technology, etc.

4. Transforming the Business Through Digitalization will be a Process 

Digitalization transformation is a process. There will be time constraints, limitations, and development costs. The process will enhance ways of working smarter, simpler, and more efficient.

5. Lack of a Clear Strategy  

Risks can be controlled when managing the process step-by-step. A clear strategy is a designed set of actions to create an advantage over competitors. 

Regardless of these challenges, it seems that AI is going to have a major impact on the shipping industry and whether it is for better or for worse, we will certainly be keeping an eye on how things progress. Changes and developments in this field are going to leap exponentially and the impact on shipping routes, speeds, and other touching points of the supply chain will be clear for all to see.