£8m Fund to Launch Smart Shipping & AI Feasibility Study in UK

UK Maritime Minister Lord Davies of Gower has unveiled an £8 million ($9.85 million) initiative aimed at advancing smart shipping technologies through feasibility studies on AI, robotics, and autonomous vessels.

This funding, part of the Smart Shipping Acceleration Fund announced in Southampton, aims to spur technological innovations that could energize the economy and bolster coastal communities.

The allocated funds will require matching contributions, thus drawing additional private sector investment. This will enable successful ports to employ AI for improving safety hazard detection, optimizing port operations, and minimizing environmental impacts.

“Using AI and cutting-edge technology to make boats smarter and transform port operations is part of our plan to decarbonise shipping, enhance safety for our seafarers and help grow the economy. AI has the potential to revolutionise the sector, create jobs, and support the economy,” said Lord Davies.

The Smart Shipping Acceleration Fund is part of the broader £206 million UK Shipping Office for Reducing Emissions (UK SHORE) program, which was launched in March 2022.

The UK has already committed over £3.5 billion to AI development in the past decade and plans to double its ‘Incubator for AI’ team to expand AI integration throughout the public sector.

Chris Shirling-Rooke, chief executive at Maritime UK, emphasized the strategic benefits of this new fund: “This new fund will allow the fostering of innovation and embracing of cutting-edge technologies, so we can ensure the UK maintains its position as one of the global centres for green maritime technology.”