US-based analytics company SAS, a provider of artificial intelligence (AI), data mining, modelling and forecasting systems, has partnered with Lloyd’s List Intelligence to develop a new range of maritime products for analysing vessels, movements and fleets using managed analytics.
Lloyd’s List Intelligence’s ‘Seasearcher Advanced Risk and Compliance’ offering, used to highlight risk around probable illicit activities, is the first service to integrate these SAS technologies. The analysis includes different layers of live and historical vessel behaviour, and uses AI to create context around normal, abnormal, and dark vessel movements.
“As illicit activities climb and compliance requirements increase, there is a need for more immediate, accurate decisioning to detect and mitigate potential risks,” said Matt Bidwell, Head of Product Management at Lloyd’s List Intelligence.
“By leveraging powerful ‘big data’ and machine learning capabilities from SAS, we’ve augmented the wealth of Lloyd’s List Intelligence’s historical and detailed data – tens of billions of data points – with AI, to create an enhanced level of insight.”
“During its development, we consulted with practicing risk and compliance professionals to ensure that our new service addresses their needs for greater support in solving some of the most difficult and complex problems associated with risk assessment.”