SOCAR Trading to use AI platform on its ships

SOCAR Trading, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), will use the Windward Predictive Intelligence platform to monitor its fleet, conduct the necessary inspections of the other party and ensure compliance with all sanctions regimes, Report informs, citing foreign media.

According to the report, Predictive Intelligence, which uses Windward's artificial intelligence to change the world's maritime trade, is now cooperating with SOCAR Trading. SOCAR Trading will use Windward's artificial intelligence platform to improve the necessary research and inspection processes for tanker rental, monitoring of its fleet, and acceptance of cargo from third-party vessels.

Richard Baron, Head of Regulatory Compliance at SOCAR Trading, said that the company is always looking for innovative solutions that it can include in its compliance program, which protects the interests and prefers participants who do not meet the requirements of the market.

He said that Windward's AI platform provides meaningful warnings with a low proportion of false positives, allowing the compliance team to spend more time, assessing and analyzing key risks.

The Windward Marine Artificial Intelligence Platform analyzes a number of factors, including ship behavior, property structures, company risks, and more, and predicts in real-time which companies and ships will be at high risk and which are safe to deal with. Windward's Predictive Intelligence platform, which seamlessly integrates into existing workflows, records suspicious events with 4X fewer false positives than traditional solutions and allows SOCAR Trading to save time, increase efficiency and focus on other business needs.