Signal's AI-Drive Forecasting Algorithm Receives US Patent
Signal Group's artificial-intelligence (AI) driven forecasting algorithm, Carrier Path Prediction Based On Dynamic Input Data, has been awarded a US patent, as it aims to deliver an advanced prediction model for the maritime community.
"Receiving our first U.S patent is a tremendous milestone for the Signal Group," said Ioannis Martinos, CEO, Signal Group. "The patent powers our sophisticated voyage forecasting capabilities."
Signal, with offices in London and Athens, is developing AI software for the maritime transport and commodities trading sectors, combining a deep understanding of the shipping industry with a passion for applied science.
For the last three years, Signal’s services have been adopted at an increasing rate by international oil majors and traders, as well as shipping operators and brokers. Signal customers currently control more than 50% of the world's crude oil shipments.
The algorithm, which has drawn inspiration from the field of self-driving cars, uses graph theory and allows Signal to achieve reliable predictions in a space of high uncertainty. Its mathematical generality helps in the progressive integration of new input parameters and facilitates the expansion of the offered solutions to all types of merchant ships, such as tanker, dry bulk, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) vessels.