Singapore-based shipping line Ocean Network Express (ONE) and MTI announced on January 7 the establishment of Quaveo, a joint venture based in Ho Chi Minh City that will apply AI to support digital transformation in container shipping operations and business models.

Quaveo will focus on developing AI solutions for the shipping sector by combining ONE’s industry expertise and operational experience with MTI’s capabilities in AI-based human resource development. The venture aims to build AI talent with a strong understanding of customer operations, enabling faster development and deployment of practical, frontline solutions.

Demand for digital transformation using AI is rising across the industry, driven by increasingly complex market needs, the push for greater operational efficiency, and higher expectations for customer experience.

At the same time, the rapid growth in business data has created challenges in turning data into commercial value, highlighting a significant opportunity for AI-led digital transformation.

"In the container shipping industry, the need for service quality improvement and operational efficiency utilising AI and Large Language Models (LLMs) is rapidly increasing," said Kenichi Michida, senior vice president of ONE. "Through the establishment of this new company, we intend to introduce highly competitive AI/LLM solutions that meet these needs more rapidly and on a larger scale than ever before, and actively proceed with securing excellent AI talent."

In the same vein, Ichiro Igari, managing executive officer of MTI, said, "Currently, the ability to flexibly conceive ideas from a business perspective regarding AI technology, which is evolving at an unprecedented speed, is required in the market. In the new company, we will create results in the container shipping and healthcare businesses and realise business transformation through the latest AI technology for a wider range of client companies."

Source: VIR