Not to be confused with the headline-grabbing DeepSeek, DeepSea Technologies is making its own mark in the Maritime Sector thanks to its comprehensive AI solutions designed to optimize fleet operations and reduce environmental impact. It’s aiming to be the go-to solution provider for maritime stakeholders looking to improve their bottom line and reduce their carbon footprint to meet the International Maritime Organization’s (IMO) targets for cutting greenhouse gas emissions in the sector.

DeepSea Technologies was founded in 2017 by Konstantinos Kyriakopoulos, an AI researcher at the University of Cambridge, and Roberto Coustas, an Oxford-educated mechanical engineer and vessel performance manager, with a mission to harness the latest in AI technology to make vessels more efficient. The company secured €5 million in funding on July 29, 2021 from a mix of existing and new investors, including Nabtesco Technology Ventures, The Signal Group, and ETF Partners. The funding was used to bolster DeepSea’s financial stability and support further technological research, product development, and international expansion, particularly targeting Asian markets. In parallel with the investment, DeepSea Technologies began commercial and research collaboration with Nabtesco, the Japanese leader in shipping automation.

Improving shipping efficiency without the need for expensive retrofits
The company aims to address critical challenges faced by shipping companies, including fuel efficiency, operational costs, and environmental impact. Historically, companies aiming to improve performance in these areas would have to consider adding retrofits to their ships during drydocking. These are typically expensive propositions that take years to recover the initial investment which accounts for both the capital expenditure and the lost income from the additional time it takes to fit them onboard.

DeepSea aims to remove this obstacle by providing easy-to-adopt solutions that deliver improved efficiency, albeit it on a smaller scale than retrofits, but with a much quicker return on investment.

An AI-Driven Future for Maritime Operations
DeepSea’s platforms utilize sophisticated AI algorithms to provide actionable insights that help shipping companies improve their operational efficiency through:

1. Fuel Usage Optimization: By analyzing real-time data on vessel performance and environmental conditions, DeepSea’s technology helps guide clients to make operational adjustments to reduce fuel consumption.
2. Decarbonization Strategies & Compliance: The company’s AI solutions assist fleets in meeting regulatory requirements related to carbon intensity by flagging potential issues and atual issues in real-time to onboard and onshore teams so they can be quickly remedied
3. Predictive Analytics: DeepSea’s systems can forecast potential maintenance issues or operational disruptions based on deep data analysis of ship performance, allowing companies to take proactive measures that minimize downtime.

These solutions are proving popular as underscored by DeepSea’s growing number of impressive clients from the maritime sector, including major players like Maersk, Hapag-Lloyd, Seaspan, BHP, and Euronav. Working with owners of some of the world’s largest fleets, DeepSea has demonstrated its capability to deliver on its vision.

The Bigger Picture
Maritime players are well aware of the industry’s critical need for sustainability and the economic ramifications of non-compliance with the flurry of regulations coming down the pipeline. While it’s not possible for all stakeholders to meet environmental standards with low emission new builds or costly retrofits, the power of AI is seen as an immediate solution to improving emissions credentials. DeepSea Technologies has clearly shown how technology can be harnessed to create a more sustainable future for maritime transport.To be sure, DeepSea is part of a larger wave of AI solution providers looking to capitalize on the maritime industry’s pressing need for improved everything, but DeepSea is looking well-place to emerge as one of the leaders in this space thanks to the traction its solutions are garnering with some of the biggest names in shipping.

Final Thoughts
As we are seeing across the AI ecosystem, models that are setting the standard in performance today may not be the ones working best tomorrow. The ecosystem is shifting quickly, faster than most can wrap their heads around and even leaders in the space are being blindsided by what can be accomplished by relatively small teams. DeepSea has shown impressive momentum out of the gates, but the winners in this space need to be prepared for a marathon, not a sprint.

Reference

Whiston, A. (2021, July 29). DeepSea Technologies secures €5 million funding. DeepSea Technologies.https://www.deepsea.ai/post/deepsea-technologies-secures-5-million-funding

Deep Sea Technologies raises EUR5 million for product development and market expansion | INNOVATIVE GREEKS. (n.d.). https://www.innovativegreeks.gr/news/deep-sea-technologies-raises-eur5-million-product-development-and-market-expansion

Contributor : Ariana Tri Asti
Reviewer : Imam Buchari