Maersk unveils new AI platform to simplify customs tasks

Maersk unveils new AI platform to simplify customs tasks

Maersk has introduced the Maersk Trade & Tariff Studio, a digital platform designed to simplify the complexities of the customs process for global cargo owners. This new initiative is driven by artificial intelligence and aims to address the ongoing challenges businesses face with rising tariffs, strict regulatory scrutiny, and disruptions in customs procedures. Historically, companies dealing in international trade have had to coordinate with numerous local brokers at different ports, leading to data fragmentation and limited visibility, which often result in substantial overpayments of duties. Research conducted by Maersk highlights that, on average, 5-6% of tariffs are overpaid due to the lack of centralized data and optimization processes. Moreover, about 20% of shipment delays can be traced back to insufficient customs preparation, causing significant disturbances in supply chains and increasing operational costs. A major inefficiency identified is the underutilization of Free Trade Agreements (FTAs). Despite the availability of over 650 FTAs worldwide, merely 50-55% of eligible trade takes advantage of them. This is largely due to the complexity of these agreements and the extensive resources required to comprehend their specifics, leading to missed cost-saving opportunities. The Maersk Trade & Tariff Studio utilizes AI-driven tariff engineering to ensure accurate application of over 6,000 product codes and 20,000 sub-codes. The AI component also enhances upstream compliance risk screening, helping clients avoid delays, detentions, and penalties. The platform is continuously updated with real-time information from Maersk's network of 2,700 customs experts, providing businesses with the most current data. Following its successful pilot with major clients, the platform will be available from June 28 for U.S. imports, with a global rollout expected by August. The platform is part of Maersk's integrated logistics services and can function independently as well.

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