Are we ready to handle more data?
While technologies like blockchain and LiDAR help us look in the 'rearview mirror', checking what has already happened, advances in data analysis mean we can now get an immediate view of what is happening in real time. We can also start looking forward and be more predictive.
"Ultimately, companies will continue to send information to a classification society or supply chain system," says David. "Unfortunately, past crises have shown that it is not always possible to trust people to self-regulate, but if enough data points are obtained, it is possible to start applying automatic detection of anomalies and the machine. Normal activity compared to abnormal activity and you can even start using these big data to predict what risks you might be exposed to. "
The information generated by advances in machine learning and anomaly monitoring will help the industry gain much more in-depth information on health, safety and security. It could also help the sector move faster to cope with epidemics or even predict when it might happen. We are now exploring ways to work with governments and regulators to help prepare these progress. How should the new standards and new regulations be? How can we educate the public about risk, to prevent unnecessary panic and worry?
We believe that the answer is, once again, through collaboration. By bringing together the companies that create the technology, the suppliers who need it and the regulatory authorities that oversee it, we can help to pave the way for greater trust and confidence without disrupting the existing supply chains.
