The development of technology and AI tools has made it easy for the maritime industry to improve supply chains and the tracking of shipments. But our client, a maritime company faced various challenges and consequences with the introduction of AI. Finally, the company resorted to Research Nester looking for its services for developing effective strategies to incorporate better use of AI in the industry.
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The company was in the business of trading and transporting goods over the seas.
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However, the company experienced a significant issue with new technology implemented on the onboard ships. Also, the data breach of confidential data was largely feared by the company.
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In June 2022, the company found itself in a fix with poorly guarded navigation equipment and software. This enabled hackers to take control of the ship.
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To prevent any similar future mishappening, the company authorities resorted to Research Nester to devise a network security strategy that would safeguard its databases against security threats, protect navigation systems and improve the supply chain.
A reputed and well-known company got stuck in one of the horrifying cases incurred due to the adoption of digitalization and AI. The company was incorporated in 2007. To the extreme horror of the company authorities, hackers gained access to their navigation data, taking control of the vessel. The incident occurred in June 2022, when a third party gained access to the navigation of the ship thus affecting the vessels. The incident compromised the privacy and confidentiality of thousands of ships. To make matters worse, the data theft triggered legal and regulatory repercussions for the company. Although the company was able to restrict the extent of the mishap, the incident eroded customer trust to a huge extent and damaged the company’s reputation. To avoid any future instances, the company sought the services of Research Nester analysts to help it incorporate a near-fool-proof strategy for its network security. Research Nester offered a customized solution in the form of a report. It provided a detailed analysis related to advanced technological solutions for boosting network and cyber security in companies, especially in the wake of artificial intelligence.
The company had shallow network protection and an overall weak managed security services and this led to larger liabilities. Adding to this stress, was the careless integration of artificial intelligence systems. Hence, it became an easy target for third-party to access the confidential navigation data. Research Nester consultants suggested revamping the company’s security infrastructure practices in the following ways-
The maritime company had a good reputation in domestic and international routes due to its secure transportation. The profits in 2020 were valued at ~USD 36 billion. The company had incurred immense losses including fines, legal action from clients, and loss of existing customers by the end of December 2021. The company not only faced financial drain but repercussions from the partners and clients as well. As a result, Research Nester was asked to use its experience and expertise in the field to bring the company back on track. By incorporating the strategizes as advised by Research Nester consultants, there was a gradual improvement. By the end of 2022, the company profits were marked at ~USD 52 billion.
