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Posted: November 4th, 2023
Emerging technologies, such as blockchain and artificial intelligence, have the potential to transform the maritime logistics and supply chain management sector by enhancing efficiency, transparency, security, and sustainability. Blockchain is a distributed ledger technology that enables secure and immutable data sharing among multiple parties, while artificial intelligence is a system's ability to interpret, learn, and adapt from external data to achieve specific goals and tasks. Together, these technologies can create a digital platform for end-to-end logistics operations, where data is collected, analysed, and exchanged in real time, enabling better decision making, coordination, and optimization.
One of the main applications of blockchain and artificial intelligence in maritime logistics is cargo monitoring. By using IoT devices and sensors, data on the location, condition, and status of cargo can be captured and stored on the blockchain, creating a tamper-proof record of the shipment history. AI can then analyse this data to provide insights on the cargo's quality, safety, and delivery time, as well as to detect anomalies, risks, and frauds. This can improve the visibility and traceability of cargo across the supply chain, as well as reduce costs, delays, and losses due to damage or theft.
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Another application of blockchain and artificial intelligence in maritime logistics is resource allocation. By using smart contracts and algorithms, blockchain and AI can automate the matching of supply and demand for cross-border logistics resources, such as transport modes, routes, carriers, and warehouses. This can reduce intermediaries, transaction costs, and information asymmetry, as well as increase the utilization and efficiency of logistics resources.
A third application of blockchain and artificial intelligence in maritime logistics is sustainability and data monetisation. By using blockchain and AI, logistics companies can collect and share data on the environmental and social impact of their operations, such as carbon emissions, energy consumption, waste generation, and labour conditions. This can help them comply with regulations, standards, and certifications, as well as improve their reputation and competitiveness. Moreover, logistics companies can leverage their data assets to create new revenue streams by offering value-added services or selling data to third parties.
In conclusion, blockchain and artificial intelligence are emerging technologies that can offer significant benefits for maritime logistics and supply chain management. They can enable a digital platform for end-to-end logistics operations that is more efficient, transparent, secure, and sustainable. However, there are also challenges and barriers that need to be overcome for their successful implementation, such as technical complexity, interoperability issues, regulatory uncertainty, ethical concerns, and human resistance.
: IBM Corporation (2020) IoT And Blockchain: Technologies For Universal Cargo Monitoring
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: Abderahman Rejeb et al., 'Blockchain Technologies In Logistics And Supply Chain Management: A Bibliometric Review' (2021) 5 Logistics
: Naoum Tsolakis et al., 'Artificial Intelligence And Blockchain Implementation In Supply Chains: A Pathway To Sustainability And Data Monetisation?' (2022) 327 Annals Of Operations Research
: Xiangyu Li et al., 'International Logistics Management System Based On Cloud Computing And Blockchain Technology' (2022) Wireless Communications And Mobile Computing
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: Dataconomy Media GmbH (2023) Artificial Intelligence In Supply Chain Management
: Weill P. & Woerner S.L., 'Thriving In An Increasingly Digital Ecosystem' (2018) 59 MIT Sloan Management Review
The shipping industry plays a vital role in the global economy, but also poses significant environmental challenges to the marine environment. Some of these challenges include greenhouse gas emissions, air pollution, noise pollution, oil spills, invasive species, and marine litter. To address these issues, the shipping industry needs to collaborate with research institutions and academia to advance scientific knowledge of the marine environment and develop effective solutions.
One way that the shipping industry can collaborate with research institutions and academia is by supporting and participating in research projects that aim to improve the environmental performance of shipping. For example, the shipping industry can provide data, access, and funding for research on low-carbon fuels, energy efficiency, emission reduction technologies, alternative propulsion systems, and environmental monitoring. The shipping industry can also benefit from the expertise and innovation of researchers and academics who can help design, test, and implement new solutions for sustainable shipping.
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Another way that the shipping industry can collaborate with research institutions and academia is by engaging in dialogue and knowledge exchange with relevant stakeholders. For example, the shipping industry can participate in conferences, workshops, webinars, and publications that disseminate and discuss the latest scientific findings and best practices for environmental management in shipping. The shipping industry can also contribute to the development of standards, guidelines, policies, and regulations that are based on sound scientific evidence and reflect the needs and interests of the shipping sector.
By collaborating with research institutions and academia, the shipping industry can not only improve its environmental performance, but also enhance its social responsibility, reputation, competitiveness, and resilience. The shipping industry can also foster a culture of innovation and learning that can help address the current and future environmental challenges of the marine environment.
References:
- Bonsall, P., & Wang, J. (2019). The environmental challenges facing the maritime sector. Maritime Economics & Logistics, 21(3), 311-313.
- Psaraftis, H. N., & Kontovas, C. A. (2020). Decarbonizing maritime transport: The role of fuels. Transportation Research Part D: Transport and Environment, 85, 102381.
- Smith-Godfrey, S., & Becker-Phelps, J. (2021). A framework for assessing stakeholder engagement in maritime sustainability research projects. Marine Policy, 125, 104345.
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