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RidingtheWavesofIndustry40sInnovationsDigital
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knowtransformationisreshapingtheworldasweknowitrevolutionisingfieldssuchassciencebusinessagriculturecommunicationandeducationThemarineandoffshoreindustriesarenoexceptionastheystandattheforefrontoftheFourthIndustrialRevolution–alsopopularlyknownasIndustry40therevolutionofthedigitaleraandaparadigmshiftdrivenbycutting-edgetechnologiesA2020McKinseyreportoutlinedfourkeytechnologicalpillarswiththepotentialtotransformvaluechainsacrossindustries•ConnectivitydataandcomputationalpowerIncludingsensorstheInternetofThings(IoT)cloudtechnologyandblockchain•AnalyticsandintelligenceFeaturingadvancedanalyticsmachinelearningandartificialintelligence(AI)•Human-machineinteractionEncompassingvirtualandaugmentedrealityroboticsautomationandRoboticProcessAutomation(RPA)•AdvancedengineeringHighlightingadditivemanufacturingrenewableenergyandnanoparticlesAswithpastindustrialrevolutionsIndustry40isdrivingprofoundchangesinoperationsmachineryandsystemsarchitectureacrosssectorsHowevertheimpactonthemarineandoffshoreindustriesisparticularlysignificantThemarineindustryformsa vastglobalnetworkofshipssupplychainsandportsfacilitatingover80%ofglobaltradeMeanwhiletheoffshoreindustryoncedominatedbyoilandgasisnowakeyplayerinrenewableenergyIn2023alone109gigawattsofoffshorewindcapacitywereaddedgloballycontributingtoacumulativetotalof727gigawattsofoffshorewindenergyTheseindustriesarenotonlypivotaltotheglobaleconomybutarealsopoisedtoexperienceimmensetechnologicaldisruptionTheimplicationsareprofoundwiththepotentialtoredefineefficiencyunlocknewopportunitiesanddrivesustainabledevelopmentonaglobalscaleIndustry40heraldsaneweraofinnovationforthemarineandoffshoresectorsFromenhancingoperationalefficienciestoadvancingsustainabilitythetransformativepowerofthesetechnologiespromisestoshapethefutureofbothindustriesinremarkablewaysTheDigitalisationandAutomationofSingaporesPortsTheexcitingpartisthisfutureofmaritimeinnovationisalreadyunfoldinginSingapore WithanearlyadoptionofIndustry40technologiesPSATuasPortisontracktobecomingtheworldslargestautomatedportAsof2024muchoftheworkatTuasPortisalreadyhandledbyafleetofover200driverlessAutomatedGuidedVehicles(AGVs)–thelargestintheworld
