Artificial Intelligence: Israeli Shipping Co Deploys AI to Sniff Out Cargo Misdeclarations

August 20, 2020 | Artificial Intelligence, News
https://dailyalts.com/wp-content/uploads/2020/08/screenshot-www.zim_.com-2020.08.20-06_08_21.png

The system detects mis-declared hazardous cargo before its loading.

The 75-year-old Israeli shipping company ZIM operates globally with four operational headquarters and regional offices around the world to service its 30,000+ customers. In a drive to make its vessels, crew, cargo, and the global supply chain safer, ZIM has developed and implemented ZIMGuard. It is an AI-based software to detect and flag hazardous cargo that has been mis-declared by the shipper. (Hellenic Shipping News)

The dangers of cargo misdeclaration

Hazardous, mis-declared cargo has been the root cause of many maritime accidents in recent years. These disasters result in heavy loss of property and life, as well as damage the environment.

In one incident in May 2019, an explosion occurred on the KMTC container ship docked in Thailand. Over 130 people were hospitalized in the resulting fire which could only be put out after many hours. The cause of the fire was an onboard container of calcium hypochlorite and chlorinated paraffin. Their owners had mis-declared these hazardous materials.

In an effort to curtail their occurrence, shipping companies have imposed additional fees on the transportation of hazardous cargo and its misdeclaration.

A group of 17 shipping lines also collaborated to create the Cargo Incident Notification System. This is a platofrm to share information about cargo-related accidents.

ZIMGuard

ZIMGuard is a cutting-edge, AI screening software system that can detect misdeclarations of hazardous cargo in real-time. Using Artificial Intelligence (AI), including Natural Language Processing (NLP) capabilities and Machine Learning, the system scans cargo declarations at an early stage before the hazardous cargo comes aboard the vessel.

It snags omissions, concealments, and errors in shipper declarations.

By alerting operations personnel regarding such defectively-reported and hazardous materials, it can save lives by preventing accidents.

“Since launching ZIMGuard, we were alerted to dozens of cases of mis-declared cargo,” said Eli Glickman, ZIM President & CEO in a statement. “In view of ZIMGuard’s potential contribution to the safety of the global supply chain, ZIM is willing to commercially offer licensing this system to parties who may be interested in utilizing it.”

ZIM has already operationalized ZIMGuard at major ports in China, the US, and Israel. By end-2020, the system will cover all of ZIM’s lines.

Related Story:     Using AI to Unearth Unexploded Bombs in Cambodia

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…