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Technology is changing and improving many common processes

As 2021 drew to a close, shipping confidence was at a record high according to a Shipping Confidence Survey Report by BDO, which was welcome news after an extremely challenging two years due to the pandemic.

When it comes to 2022 there are exciting developments ahead. Shipping companies will continue to embrace technology to automate business processes and access data and analytics to drive decision making.

The pandemic actually accelerated technology adoption by several years, particularly as restrictions moved many shore-based staff to work remotely, leaving companies with no choice but to embrace cloud solutions and digitise their businesses.

Companies witnessed first-hand that moving into the cloud provided a cost effective and reliable way for staff on shore and ships to work from any location. And, as data is centralised in the cloud, important information could be accessed by everyone, speeding up and improving communications and productivity.

In 2022 we predict, therefore, companies will be seeking more sophisticated tech solutions, with demand for quality data and analytics being a key driver. worldwide data will grow 61 per cent to 175 zettabytes, and 90 zettabytes of this data will be created on IoT devices (devices that connect wirelessly to a network and have the ability to transmit data).

Now that many shipping companies are starting to digitise their processes, they are realising the value of good data. They are gaining insights into areas such as purchasing or finance to support decision making or make future predictions based on past events.

We also predict there will be an increased uptake of self-service solutions for crew members. This will give crew greater autonomy over their own data so they can manage their schedules, payslips, training and other key employment areas themselves.

New kid on the block Blockchain is one of the most exciting technologies to impact shipping. Blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on theblockchain.

It allows transactions to be tracked and traced infinitely and can be used in any business transaction and holds great promise for industry sectors involving multiparty or high-value transactions.

First talked about in relation to crypto currencies more than 10 years ago, blockchain has often been misunderstood, but its potential is starting to be realised.

Introducing blockchain-based systems could radically improve payroll and introduce a digital currency for everyone that wouldsimplify and standardise payments and change how companies compensate employees.

It could be used effectively in other areas too, such as supporting smart contracts, tracking cargo in real time, delivering insurance payments as well as for approvals and custom clearance for goods – it is a key technology to watch.

AI and robotics Artificial intelligence and robotics may seem like a step too far for an industry traditionally slow to adopt technology, but there are indications this is about to change, especially since the first autonomous ship has now been developed.

In 2018, Rolls-Royce and ferry operator Finferries introduceda fully autonomous ferry called the Falco. In addition, the EU is currently funding theAUTOSHIP projectto develop two autonomous ships – one for short sea shipping and the other for inland waterways – with the initial results expected by 2023.

Although AI and robotics are different - a robot is a machine which may or may not require intelligence to perform specific tasks and has a physical form, whereas AI is a program, so it does not need to be physical – they both have the potential to replace a human role with a technology driven solution. The benefits of both include greater efficiency and cost saving.

It is still early days, but we are starting to see these technologies used in safety, navigation and energy emissions, as well as in ports and ship building. Robots are also being used in the execution of situations that are dangerous or potentially hazardous to human health, with tasks such as maintenance, cleaning and inspection.

We anticipate AI and robotics to be a game changer if barriers including investment, compliance and regulation, cyber security and people’s attitudes to work can be overcome. Technology is reshaping the shipping industry. Some like cloud technology and data analytics are now firmly embedded in many processes. Others such as blockchain, AI and robotics are at the start of their journey to becoming more commonplace. We will be watching closely to see how things develop in 2022 as shipping companies become increasingly reliant on technology to future proof their business. hanseaticsoft.com

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