Signal Group’s artificial-intelligence (AI) driven forecasting algorithm, Carrier Path Prediction Based On Dynamic Input Data, has been awarded a US patent, the company reports. The technology is used to power a voyage prediction model for the maritime market.
The forecasting algorithm was developed by drawing inspiration from the field of self-driving cars, and uses graph theory to create predictions in an environment of high uncertainty.
Its mathematical generality supports the progressive integration of new input parameters and facilitates the application of the system to all types of merchant ships, such as tanker, dry bulk, LNG and LPG vessels, the company says.
“Receiving our first US patent is a tremendous milestone for the Signal Group,” notes Ioannis Martinos, Chief Executive Officer at the Signal Group.
“The patent powers our sophisticated voyage forecasting capabilities. I am really proud of our team which is demonstrating that the Greek tech ecosystem can offer cutting edge solutions for global industries.”
Signal is a developer of AI-powered software for the maritime transport and commodities trading sectors. For the last three years it has focused on supplying its system to international oil majors and traders, as well as ship operators and brokers, with a customer base that currently controls more than 50% of the world’s crude oil shipments, according to the company.
