🛳️ AI is a Ship’s Captain!
Over 80% of international trade in goods is carried by sea. Due to the increase in the number and size of ships, geopolitical issues, collisions, and other marine incidents have risen to 4,000 per year.
Artificial intelligence can improve maritime navigation safety. UK startup Orca AI, which has already raised more than $40 million in investment, uses AI to develop autonomous navigation.
We’re going to see, in the near future, vessels sailing without any crew. In the meantime, you can optimize and automate many parts of the voyage, reducing workload, reducing also the amount of people. You can optimize fuel consumption emissions and the ETA [estimated time of arrival] and increase safety altogether.
Yarden Gross, co-founder of Orca AI
The startup has tested the world's first AI-operated commercial ship. The ship was at sea for 40 hours, sailing one of the world's most congested routes, Tokyo Bay, and automatically performed 107 collision avoidance maneuvers.
⚙️ How does it work?
AI algorithms are trained on data from radar, cameras, and other sensors mounted on ships' upper decks. For example, Orca AI's SeaPod sensors are equipped with powerful cameras that can detect small objects up to 7.4 kilometers away. These include fishing vessels, floating containers, large debris, or marine animals. The cameras operate in all weather conditions and at any time of day.
⭐️ Why is it useful?
Many incidents at sea involve human error. Autonomous navigation eases the burden on the crew. AI-based technology can reduce close encounters in open waters by at least 33% and optimize routes. This will help reduce fuel costs by 3-5% and cut CO2 emissions.
🔖 Opportunities
⭐️The autonomous navigation market is projected to grow from $4.46 billion in 2023 to $5.33 billion in 2024. Orca AI already works with major global shipping companies such as MSC, NYK, Maersk, and Seaspan.
⭐️By uploading data to the cloud, AI tools make it possible to operate not just one vessel but the entire fleet.
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