Shipping Industry Embraces AI-Driven Transformation
Ali Riaz, CEO of OrbitMI, predicts the shipping sector is on the brink of a major transformation as it enters a “connected maritime era.” This shift involves moving away from fragmented decision-making toward integrated systems powered by artificial intelligence (AI). Riaz emphasizes that in the next year, shipping operators will have the tools to act decisively before market fluctuations and risks fully materialize.
Revolutionizing Decision-Making in Shipping
Riaz envisions a future where traditional voyage management systems will be outdated. Currently, such systems primarily indicate a vessel’s location and historical actions. However, Riaz argues that the upcoming wave of technology will merge market intelligence, operational data, and predictive analytics into a cohesive platform. This new model will allow shipping companies to adapt swiftly to regulatory changes, market dynamics, and geopolitical events, optimizing ship and cargo positioning for maximum commercial benefit before voyages conclude.
OrbitMI is advancing toward this vision by enhancing its platform through strategic acquisitions and technical innovations. Riaz explains that their application of AI extends well beyond basic monitoring or reporting. “We utilize AI to forecast where the next profitable cargo will be and to suggest optimal vessel positions,” he states. The platform is designed to assess the commercial impacts of operational decisions in real-time, identifying potential risks, such as demurrage, before they occur. Despite these advancements, Riaz acknowledges that many in the shipping industry have yet to fully harness AI’s potential. He points out that numerous systems remain closed and reactive, which hinders their ability to integrate with top-tier providers or transform raw data into actionable insights.
Riaz believes that the industry is gradually transitioning from a mindset focused on “recording” events to one centered on “optimizing” operations. He asserts that those who adapt to this new connected maritime era will gain a significant competitive edge.
Investing in the Future of Maritime Operations
With over 25 years of experience across various sectors, Riaz’s insights are shaped by his extensive background in software and life sciences industries. He has founded and advised numerous startups, leading him to establish OrbitMI six years ago. When asked about the willingness of shipping companies to invest in digital upgrades, Riaz expressed optimism, noting that owners and operators are increasingly committed to technology that demonstrates measurable return on investment (ROI).
He highlights that the investment mindset is shifting from merely spending to save costs to spending to earn profits. Companies are now looking for platforms that integrate data, market insights, and predictive modeling to enhance commercial outcomes, not solely improve operational efficiency. The key, according to Riaz, is the openness of systems. Shipping companies are opting for connected, adaptable systems that can evolve alongside industry changes instead of relying on isolated tools that may not keep pace with regulations or actionable insights.
To keep up with the industry’s evolution, OrbitMI is restructuring its workforce by hiring more data scientists, market analysts, and product managers. This approach aims to blend deep maritime knowledge with advanced technology. Riaz emphasizes that the goal is not to replace human expertise but to augment it, ensuring that operators can make faster, better-informed decisions based on a comprehensive operational picture.
In the past year, OrbitMI has made significant strides in expanding its capabilities through mergers and acquisitions, including the purchase of Swedish advisory firm Gale Force and AI specialist AuQub. Looking ahead, Riaz envisions expanding their scenario modeling to encompass real-time market conditions, weather forecasts, and contractual performance factors. This will enable operators to evaluate the commercial impact of decisions across their fleet and act proactively to seize opportunities. In the connected maritime era, Riaz asserts, success will belong to those who can seamlessly integrate operational data, simulate scenarios, and execute decisions in real-time.
