In the past year, there has been an unprecedented surge in AI technological advancements worldwide. The impact of generative AI has become evident across various sectors, prompting many to integrate it into their workflows and personal lives. At Stena Bulk, this wave of innovation has sparked curiosity and enthusiasm for the potential benefits it could bring to their operations.

Reflecting on the holiday season at the end of last year, Stena Bulk recognised the transformative potential of AI in their operations. They concluded that staying abreast of technological innovations, especially when tech companies are actively exploring their applications, is essential. Eager to embrace innovation and explore the possibilities of AI, Stena Bulk established an AI accelerator team composed of existing employees.

This dedicated team, consisting of individuals from critical business functions such as shore operations, finance, and data analytics, will focus solely on exploring AI applications within the company for the next eighteen months. Stena Bulk’s approach of building an internal team rather than relying on external consultants underscores their commitment to innovation and adaptability.

To propel the project forward, the team will undergo a three-week residency programme at Stanford University, renowned for its technological expertise. During this time, they will immerse themselves in AI applications across various sectors and identify opportunities to implement AI within Stena Bulk’s operations.

While the specifics of AI applications within their business are still being explored, Stena Bulk envisions starting with small-scale projects to streamline administrative tasks, enhance financial processes, and extract valuable insights from data. They anticipate that these initiatives will evolve over time, shaping a more resilient and forward-thinking Stena Bulk.

Acknowledging the challenges ahead, including the possibility of failure, Stena Bulk remains committed to taking calculated risks and learning from the process. They aspire to create a model of AI integration that not only benefits their company but also sets a precedent for their industry peers to follow.

As the AI accelerator team embarks on this journey, Stena Bulk looks forward to sharing updates on their progress in the coming weeks and months, with the aim of inspiring innovation and transformation within the shipping industry.