Japan’s shipping majors are at the forefront of deploying artificial intelligence (AI) in shipping.
With Mitsui OSK Lines recently showing off how its new AI-backed vessel image recognition and recording system works and Nippon Yusen Kaisha (NYK) also working on its AI navigation systems as well as machine learning systems to read the shipping markets, not to be left behind Kawasaki Kisen Kaisha (K Line), the last of the so-called big three Japanese shipping lines, is plowing ahead with its own AI initiatives.
K Line is working with Hiroshima University, the National Institute of Maritime, Port and Aviation Technology (MPAT) and Marubeni Corporation to jointly work on research and analysis on maritime logistics and shipping market conditions using AI.
“The purpose oft the research is to estimate maritime logistics by combining data and technology, and to explore the possibility of developing predictive models with high accuracy,” K Line stated in a release today, adding: “The shipping market is one of the more difficult economic indicators to predict because it fluctuates greatly under the influence of various market and social conditions, and sometimes market sentiment as well. The method developed by the research is expected to enable more accurate and transparent business decisions.”
Yukikazu Myochin, K Line’s new CEO, has vowed to make great use of AI since taking the reins of the shipping line in April. K Line established a new AI-digitalization advancement section at its Tokyo headquarters at the start of the year.