If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Whether shipping organizations work together with huge companies such as Microsoft and Google or one of the many new maritime startups (whose numbers have recently exploded with "more than $3.3 billion …invested in digital startups in the shipping and logistics sector") it appears that shipping is not just ripe for change anymore, it's changing. If you need more convincing, a recent Inmarsat survey of 125 global ship owners found that "ship owners are far more open to deploying IoT tools for analytic, management, and operational purposes than some other industries, including mining and agriculture" and "average expenditure per business on IoT based solutions will amount to $2.5 million over the next three years" while IDC tells us that "The DX (digital transformation) programs that will receive the most funding in 2018 are digital supply chain and logistics automation ($93 billion)". An industry that has often been described as "behind the times" is now proving itself to be quite the opposite. With this in mind, I ask several experts in shipping and maritime innovation and technology, representing both large organizations and startups, to share their thoughts on how they see AI impacting the shipping industry right now.
The report outlines responses to these questions, exploring the root causes that drive each concern, and how they can be addressed through new governance and oversight frameworks. Ultimately, the report seeks to map out how the financial system can reap the benefits of AI while effectively navigating the risks it introduces, leading to improved outcomes for customers, regulators, institutions, and societies at large.
If you've been listening to the internet lately, you've probably heard about Machine Learning and Artificial Intelligence. Other Person: (entire category of problem or job) Is going to go away with the rise of Machine Learning. What algorithm would you use to solve the problem? The Artificial Intelligence teaches itself! On a bad day, AI can seem a like magic, think of thing that fills in the question mark in the classic SouthPark skit – "Step 1 – steal underpants.