The 40-page report titled Out of the Box is the second report by LR and Thetius on AI and autonomy in the maritime industry, and looks at developments through the lens of prioritising safety.
The report states that shipowners cannot hope to remain competitive without accepting the use of AI and automation into their strategic planning. The benefits of the technologies are around increasing efficiency, enhancing safety and removing human error, said the report, but risks need to be understood where AI decision making may impact safety of human lives.
Current use of AI and automation is generally around voyage optimisation, safety hazard identification, and collision avoidance systems.
The maritime AI market is expected to be worth $1.47bn in 2023, with a five-year CAGR of 22%. The maritime autonomy market is valued at $2.3bn in 2023 with CAGR of 19% expected over the next five years. Over time it is expected that the markets will continue to converge as interdependence grows, said the report.
The report makes three recommendations for the maritime industry to address the AI and automation technologies. Firstly, it calls for investment in improving the understanding of AI and automation at all levels across maritime organisations so that companies are equipped to appreciate the potential risks and benefits posed by AI and automation.
Secondly, the report calls for companies to only apply such technologies where the risks involved are appropriate. Operators must have a clear understanding of the limitations of systems in real-world applications as well as how the systems work, said the report.
The third and final recommendation calls for the creation of an independent body to support the safe development of AI for maritime operations. The report envisages this cross-industry body as a means of developing and sharing data-sets to train AI models, ensure transparency and set assurance levels.
“Establishing a cross-industry body would facilitate functional capability and transparency alongside the assumed risk assessment necessary for implementing these technologies. Such a group could help develop clear guidelines on best practices for implementing AI systems safely and transparently, ensuring that all stakeholders are aware of the risks involved and how to mitigate them,” said the report.
Dipali Kuchekar, Product Manager, Autonomous Systems and Novel Technologies, Lloyd’s Register, said: "As we move towards a future where digital solutions become increasingly integrated into the shipping industry, organisations like Lloyd’s Register will continue to adapt and evolve their assurance processes to support uptake of AI and autonomous systems to ensure that safety remains paramount. We are there to support shipowners and operators as they look at the investment case for Autonomy and AI."
Out of the Box is available to download on the Lloyd’s Register website.
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