The Unleashing of AI

A Summary of Start-Up Companies in the Maritime AI Sector, According to ChatGPT

AI is everywhere these days. A fun game for some, a way to maximize work for others. There is an ongoing debate about the pros and cons of this technology, what it means for humans and how it will impact the workforce. Is the goal to have every company be run by one or two individuals pressing a button, or should there be protections put in place to protect workforces globally?

Most Jobs Soon To Be ‘Influenced’ By Artificial Intelligence

According to the University of Pennsylvania and OpenAI researchers, 80% of jobs will be impacted to some degree by this technology.

It’s extremely important to add that affected occupations will be significantly influenced or augmented by generative AI, not replaced.

The most likely impacts to be seen across interpreters and translators, survey researchers, poets, lyricists and creative writers, animal scientists, public relations specialists, writers and authors, mathematicians, tax preparers, financial quantitative analysts, web and digital interface designers. AI ethicist is surely a new job created for this debate.

Since these positions do not cover many in the maritime sector, we decided to ask ChatGPT how they saw AI playing a role in the maritime sector.

Shipping companies, who continually work to reduce their most expensive costs, are likely to jump at the opportunity to leverage computers to reduce labor costs. Maersk as an example, went all in to offshore operational capabilities from higher cost regions to India. Imagine the savings when they and others can further migrate operational tasks from India to the cloud.

There are many areas where AI could potentially be useful and provide insights and capabilities beyond what humans are capable. There were likely similar conversations as computers and the internet entered the sector, but in many aspects these technologies created more work and inefficiencies. As an example, in the 70s and 80s, an oil major would send a short telex to the ship agent at the loading port with instructions. The oil would be loaded and the ship would depart.

Today, the process is much more cumbersome, the contract is reviewed and commented on across multiple global time zones, legal wording and CYA clauses have expanded. With AI, this is likely to continue where now lawyers will be able to leverage the platform to create more customized clauses and legal scenarios in the TCP, as an example.

On the vessel, machine learning and AI are being deployed to monitor machinery, weather patterns, and bridge conditions / navigation. One company is placing thermal cameras on the vessel which enhances the ability to identify vessels in poor weather conditions. Using cameras and computers that do not tire or go to the restroom or make coffee to monitor traffic conditions could potentially create a safer maritime environment. However, these cameras can break or lose connection or be hacked by nefarious players - so another risk bucket is created.

In speaking with ChatGPT, they have identified the following areas as the most logical for disruption: vessel performance optimization, predictive maintenance, routing, cargo planning, and autonomous vessels.

We asked who the leading companies were and they identified Wartsila, Kongsberg, Rolls-Royce, Maersk, and Inmarsat. These companies are large and cover many areas, so this makes sense.

But we wanted to find the Companies at the ground level, so we spoke to ChatGPT about start-up companies in the sector. Since their database was programmed in 2021, some of the information was a little stale. And some companies were bucketed incorrectly, which gave us hope that humans still have a fighting chance.

Here is what they came up with - there are links in each company’s name should you be interested in checking them out.

Vessel Performance Optimization, according to AI

GreenSteam: Acquired by Lloyd’s Register, apparently now rebranded as LR. Their division, Digital Solutions, is a growing part of the business. i4 Insight, the LR platform, brings together a host of complementary products to share data across their platform.

Nautilus Labs ‘is a US-based start-up that provides AI-powered solutions for optimizing vessel performance and reducing fuel consumption.’ They raised $48M in their Series B financing in March 2022, led by Microsoft.

Windward ‘is an Israeli start-up that provides vessel tracking and analytics solutions using AI and big data’. Since ChatGPT’s 2021 database concluded, Windward raised $46M and launched on the London stock exchange. Heralded as the first maritime tech IPO, the stock performance has been lackluster. Windward has a business line in ‘Government & Public Sector’ and considering David Petraeus, CIA / KKR, and the former CEO of the Israeli Ministry of Defense are involved, I suspect they have a deeper focus.

Marorka ‘is an Icelandic start-up that provides energy management solutions for the maritime industry using AI and machine learning.’ This Company was ultimately acquired by GTT, the LNG tank manufacturing company.

Predictive Maintenance, according to AI

We4Sea ‘is a Dutch start-up that provides predictive maintenance solutions using AI and machine learning.’

Our Digital Twin monitors your vessels in real-time, giving direct feedback on speed, weather and about 70 other KPI's. This allows you to make informed decisions and focus on the outliers.

Awake.AI ‘is a Finnish start-up that provides AI-powered solutions for predictive maintenance and real-time fleet management.’

Powered by Awake.AI’s intelligent data platform, Smart Port brings AI-enhanced accurate ETA and ETD predictions, next generation berthing, and tools to plan your port operation tasks and use of resources in a smarter way.

Propulsion Analytics ‘is a UK-based start-up that provides predictive maintenance solutions for marine propulsion systems using AI and machine learning.’

We create a customized “digital twin” of the engine which can provide its performance at any operating condition

Concirrus ‘is a UK-based start-up that provides predictive maintenance solutions for the marine insurance industry using AI and machine learning.’ Well not exactly, Concirrus monitors and overlays data to assist in the insurance underwriting business.

Quest, accesses and interprets wide-ranging datasets, combining them with historical claims information to reveal the behaviours that correlate to claims.

Route Optimization, according to AI

OptiPort ‘is a Norwegian start-up that provides route optimization solutions using AI and machine learning.’ They are now part of KOTUG a Dutch towing and salvage company. The product is for port scheduling.

BunkerMetric ‘is a Danish start-up that provides fuel efficiency and route optimization solutions using AI and machine learning. Their software analyzes data on vessel performance, weather conditions, and other factors to optimize routes and reduce fuel consumption for shipping companies.’ Acquired by Alfa Laval in 2022.

Greywing ‘is a UK-based company that provides AI-powered decision support solutions for the maritime industry.’ The Company operates in Singapore and provides crew change support. They came through the Y Combinator program.

Orca AI ‘is an Israeli start-up that provides AI-powered situational awareness and decision support solutions for the maritime industry. Their software uses data from sensors and cameras on vessels to provide real-time insights and recommendations for route optimization, collision avoidance, and other operational decisions.’

Here is a sleek video of how Orca AI technology is being deployed at sea.

Cargo Optimization, according to AI

Loadsmart ‘is a US-based start-up that provides AI-powered solutions for cargo optimization and freight management.’ Trucking and warehousing.

CargoAi ‘is a French start-up that provides AI-powered solutions for air cargo optimization and freight management.’ They also have a partnership with Neste.

ClearMetal ‘is a US-based start-up that provides AI-powered solutions for predictive cargo booking and freight management.’ Acquired by project44.

Transmetrics ‘is a Bulgarian start-up that provides AI-powered solutions for cargo optimization and freight management.’

Neste turns to software to optimise shipping and logistics, partnering this year with Seaber to optimize maritime logistics.

Finland has proven to be a leader in the sector, with a handful of start-ups for a small but mighty nation.

Autonomous Vessels, according to AI

Sea Machines ‘is a US-based start-up that provides autonomous vessel control and navigation solutions using AI and machine learning.’

Shone ‘is a French start-up that provides autonomous vessel control and navigation solutions using AI and machine learning.’ After booking early partnerships with CMA CGM in 2018, they were acquired in 2022 by Bedrock Ocean Exploration.

Robosys ‘is a start-up that provides autonomous vessel control and navigation solutions using AI and machine learning.’

VOYAGER AI software can transform a new or existing vessel into a fully autonomous Uncrewed Surface Vessel (USV)