BIG DATA MANAGEMENT

Lloyd’s List Intelligence Launches AI Risk Analysis Platform

LLOYD’S LIST | July 06, 2021

Lloyd’s List Intelligence has joined hands with data analytics specialists SAS to develop a pioneering new artificial intelligence platform that interprets and understands complicated vessel movements automatically to detect compliance risk.

Seasearcher Advanced Risk and Compliance recognizes probable illicit activities which include ‘dark’ port calls, ship-to-ship transfers, and suspicious loitering using AI to distinguish between normal, abnormal, and dark vessel movements.

Advanced predictive analytics and machine learning help to rule out time-consuming and false positives by factoring in multiple layers of live and historical vessel behavior from Lloyd’s List Intelligence’s vessel movements data.

Leading experts from shipping, commodities, finance, legal and insurance companies have lent their expertise in the development of these data models. These data models will help compliance teams and aid cross-industry evaluation of deceptive shipping practices.

Bert Boers, regional vice-president of southwest Europe sales at SAS said that the new solution they have developed with Lloyd’s List Intelligence applies some of the most advanced predictive analytics to create a level of insight around vessel behaviors that were not possible before.

He further added that with the critical and fast-changing nature of shipping demands, they employ the best analytical modelling with the best maritime data to produce a new depth of insight that allows professionals to make swift, accurate and confident decisions around risk and compliance.

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