Digitalisation and big data have become buzzwords for shipping even if few can fully grasp the benefits.
Norwegian shipowner Wilhelmsen has backed Raa Labs a new start up enterprise to the tune of $2m to develop solutions for it and the wider maritime industry.
The maritime industry finds itself amid a perfect storm of economic stresses, regulatory changes and technological disruption. It is a combination of cut-throat competition, strained financial performance in many shipping segments, and a strong need to reduce the industry’s environmental footprint. The good news is that digital innovation offers a lifeline. Leveraging technology will allow the industry to meet regulatory requirements, reduce operating expenses and be better adapted to take on the future.
“To fully embrace innovation, you need to understand the bigger picture to ensure that every action you take not only saves the day or the week, but positions you for future growth,” said Raa Labs CEO, Ari Marjamaa.
Raa Labs’ initial customer deliveries range wide, from orchestrating the architecture necessary for harnessing data from hundreds of vessels in order to improve performance while reducing environmental impact and operational expenses, to tailor-made applications enabling effective collaboration processes across company disciplines and divisions. Raa Labs will also deliver new solutions, specially designed to meet needs or challenges in the industry, reducing the inefficiencies of today.
“The current digital state of the maritime industry is lagging standardisation, disconnected data in monolithic silos and dated software. This creates inefficiencies and slows down innovation. The shapers of tomorrow’s industry are those who know how to utilise their expertise, data and customer insights to build software creating a competitive edge,” says Raa Labs CDO, Inge André Sandvik.