Mr. TS Teo, President, Singapore Shipping Association, Distinguished Guests, Ladies and Gentlemen, Introduction 1 Good morning. Thank you for joining us at the Maritime AI Forum: The Next Wave. My appreciation to the Singapore Shipping Association (SSA) for partnering MPA in this forum. 2 The strong turnout today reflects the growing interest in how AI can transform the way we operate, compete, and grow in an increasingly complex environment. The AI Imperative in Maritime 3 The maritime industry is sometimes seen as cautious in adopting new technology. But AI is no longer a technology of tomorrow. It is already reshaping how companies operate and how people work. Many have aptly described this as the “Intelligence Age”. 4 The key question is: How can our industry seize the opportunities in this “Intelligence Age”? • At its core, AI enables companies to operate more efficiently and empowers our people to work smarter. It automates routine tasks, analyses complex information and proactively identifies issues. • This will not only transform how work is done, but also redefine jobs and skills. Existing roles will evolve, and new roles will emerge, requiring workers to adapt and learn to use new tools. 5 It is important for us to recognise that AI will only be a disruptor for the unprepared. We should not use its disruptive nature as an excuse to not keep up. If we cannot keep up, it is because we were not prepared. 6 At the same time, this disruption also brings opportunities. Companies and employees are under constant pressure to raise productivity, improve safety, and meet sustainability goals – all while staying competitive. 7 For Maritime Singapore, the stakes are even higher. We face tight manpower constraints, limited land and sea space, growing operational complexity, and increasing global competition. AI is not a silver bullet. But it offers new ways to overcome some of these challenges. For example, • AI can detect equipment failures early, allowing engineers t