The added value from AI on sustainable business models - How AI improves economic and environmental sustainability in the shipping industry

Abstract

This bachelor thesis explores the added value of Artificial Intelligence (AI) on sustainable business models and its prospects within the Swedish shipping industry. The study focuses on identifying the potential benefits and challenges of integrating AI technology into shipping practices to make them more economic and environmentally sustainable. The research is based on a literature review that includes sources from various countries, while the case study delimits the analysis to the Swedish shipping industry. The study examines the benefits of AI in optimizing vessel operations, reducing fuel consumption, and predicting maintenance of equipment. Additionally, challenges such as regulatory compliance, technological barriers, and stakeholder collaboration are addressed. Drawing on the literature review and the case study, the paper shows that AI has the potential to add value to sustainable business models in the industry by improving vessel performance, reducing carbon emissions, and promoting overall economic and environmental sustainability. Keywords: AI, Artificial intelligence, Added value, Sustainable business models, shipping, AIS, economic sustainability, environmental sustainability