12 June 2024 (Lloyd's List) - THERE has been plenty of hype over artificial intelligence in the past 12-24 months, largely around the success of large language model AI projects, which have brought it to wider attention.
"Things such as ChatGPT and other generative AI technologies have been the 'iPhone moment' for the adoption and use of that technology," DP World vice-president of technology Que Tran told the TOC conference in Rotterdam.
But it has a great potential to process vast amounts of data and automate processes in DP World's ports and supply chain businesses.
"Of all our data, after we've generated it, only 3% of it ever gets looked at again," Tran said.
"The vast opportunity of that data is untapped, and something like AI can definitely help in that respect."
But is it just another buzzword that comes and goes the way of blockchain, which was once considered a groundbreaking technology for an industry that was poor at collaboration.
It promised a "trustless" world for ports and shipping, where digital ledgers would provide the truth in any transaction.
"Blockchain has pretty much become 'blocked chain'," Tran said. "It's pretty much stopped in terms of products for our industry."
Nevertheless, he is more confident over the stickability of AI.
"I believe AI's capabilities are generally attractive to shipping," Tran said.
"We know this because we've been looking at AI for some time at DP World.
"We already combine multiple data sources to provide visibility on the movement of cargo and it automates the consolidation of documents from multiple providers, making a single platform for cargo tracking with accurate predictions."
DP World's Cargoes community platform standardises processes across geographies, introducing a single window.
In this instance, AI cuts out administrative and compliance hours and simplifies the flow of goods, Tran said.
Negative image
But he is also aware of the negative image some have of the technology.
"Efficiency is obviously what we're looking at from AI, and people often think of AI as a displacing technology that threatens jobs," he said.
"But we need to look at it more as an enabling or complementing technology that can help people and operations and our business. That is where the true value of AI is."
It could also be the incentive to finally complete the digitalisation of container shipping.
"At a time when 60% of the supply chain is still using paper in operational processes and 80% of businesses in our industry state they don't have a suitable or fit-for-purpose technology system to automate their processes, looking at AI is going to fundamentally transform our industry," Tran said.
AI technologies could also make for smarter working, he added.
"Digitalisation enables ports and terminals to provide a port-centric approach to supply chains, rather than a chokepoint that is sometime envisaged as a black box where containers come in and we don't know about them for a while," Tran said.
"In our position as an asset owner in the supply chain, AI has provided vital efficiencies. We can get real-time insights into where our cargo is and see issues before they arise to prevent incidents but also prevent wastage."
The combination of data use and automation is essential for the business as it moves along the supply chain, and orchestrates the flow of containers.
"This transparent data gives us a lot of insight into this increasingly connected sector," Tran said.
