The so-called ‘4th Industrial Revolution’ has brought many new digital tools to the industry: Artificial Intelligence (AI), Internet of Things (IoT), Big Data, 5G, cloud-based systems, blockchain, digital twins, and autonomous vessels, among others. Moreover, we see a plethora of start-ups and digital incubators developing new technology that is certain to bring maritime trade into a new era of hyperconnectivity.
Yet as technology continues to evolve, we are seeing a growing ‘digital gap’ between industry leaders in the port sector, and small and medium-sized ports. While ports that make up the busiest trade routes across the globe are the pioneers in this digital transformation and therefore becoming more efficient and competitive; other industry players that are yet to fully embrace digitalisation - but also participate in the same supply chain - are at risk of falling behind. This could in turn damage the chain overall. Hence the need for harmonized digital standards that guarantee a common data language is of the utmost importance if the industry is to achieve true resilience through digitalisation.
We are witnessing several initiatives to standardize digital processes across the sector, from establishing a Single Maritime Window to the implementation of cybersecurity protocols.
However, for these initiatives to be integrated into regular business practices there must a coordinated effort between established regulators and stakeholders. While new technologies can certainly optimize both trade and connectivity - and in turn make port operations more efficient - collaboration is the key word that must go alongside innovation in order to make the maritime & logistics sector more resilient.
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