Element Alpha, a provider of energy, logistics, financing, and risk management services, has agreed a deal with maritime AI firm Windward to support compliance screening and due diligence processes for all of the company’s maritime activities.
Windward’s system is powered by machine learning and behavioural analytics models, providing insights into vessel behaviours, ownership structures, and company risks, as well as predicting in real-time which companies and vessels are likely to be high risk.
Element Alpha will use the AI-based platform to screen all vessels associated with the company in any capacity. Using Windward’s software, the company will employ a screening process, evaluating the behaviour of vessels by automatically flagging all risks including dark activity and other deceptive shipping practices.
“Given the current sanctions and the increased complexity of the commodity trading ecosystem, legacy list-based screening processes are no longer viable,” said Ami Daniel, Co-Founder and CEO of Windward.
“Screening for deceptive shipping practices including ship-to-ship transfers and GNSS manipulation is now more critical than ever, and today, more and more companies are turning to AI to run more efficient and effective screening.”
“Our patented technology for identifying deceptive shipping practices is best-in-class, and critical for anyone involved in commodity trading. Element Alpha is leading by example for all stakeholders in the ecosystem, enhancing their compliance processes to ensure the highest level of regulatory compliance and risk mitigation.”
