ZIM Integrated Shipping Services (ZIM) has made a $6 million investment in Israel-based Data Science Consulting Group (DSG), a technology company specialising in Artificial Intelligence (AI) products and services.
The deal represents the first major equity investment in DSG, who will use capital to bolster the development of its e-volve AI governance and decisioning management system, as well as expanding its operations and presence around the globe.
This investment follows a commercial collaboration between ZIM and DSG in the creation of a centre of excellence for the development of AI tools for the maritime shipping industry.
“The centre of excellence we initiated with DSG is another prime example of a fruitful partnership ZIM has established with an Israeli start-up and the successful development and implementation of AI tools to improve ZIM’s business decisions,” said Eli Glickman, President and CEO of ZIM.
“ZIM’s innovative spirit, demonstrated by, among others, the adoption of various digital tools, has been an important contributor to our industry leading results and, we expect, will continue to drive to our success going forward.
“Having worked closely with the DSG team, we see their capabilities that can support our ecosystem and are pleased to make this investment that will enable them to further grow their business.”
ZIM and DSG told PTI more on their centre of excellence partnership and posited the use of AI in combination with Internet of Things (IoT) sensored containers as the optimal future solution to leverage AI solutions to better forecast potential bottlenecks or areas to expedite cargo.
