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Economy

Artificial Intelligence Now Seen Key Player for Greece’s Shipping Sector

March 20, 2024

ATHENS – With Artificial Intelligence (AI) seemingly poised to take over jobs and influence numerous industries, it is also seen as playing a significant role in Greece’s world-leading shipping sector and the oligarchs who manage it.

There will be exhibitions at the Posidonia Shipping Exhibition from June 3-7, which is the world’s largest event for the industry, bringing together top companies and officials annually in Greece at the Athens Metropolitan Expo.

Theodore Vokos, Managing Director at Posidonia Exhibitions, told Kathimerini that demand for space from advanced technology and innovation companies providing services to the shipping industry has dramatically increased for the event.

He mentioned a report on the future landscape of AI in the maritime sector, titled “Out of the Box” and produced by Lloyd’s Register and maritime innovation consultancy firm Thetius, which indicates that the market for AI-driven systems and vessel autonomy is expected to reach a collective value of $5 billion by 2028.

The report found that there are already 276 active companies identified in the maritime AI segment, noting the importance of proactive investment by maritime organizations to enhance their understanding of AI.

Andreas Miserlis, owner and CEO of Emmis Marine, highlighted the industry’s advanced technological standing, where AI has become essential. He stated that shipping owners need to integrate AI into research and development, aligning technology with industry needs. “AI stands at the forefront of meeting the technological demands of the maritime industry. Our commitment to incorporating AI into our R&D department and production lines reflects our approach to staying ahead,” he said.

Overall, the maritime manufacturing sector expects AI to play a larger role in operations and managing the shipping network in Greece and around the world, with an emphasis on data analysis and project development.

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