At our recent Singapore Summit, our Chief Commercial Officer, Russ Hubbard, opened with two numbers: 88% of organizations now use AI somewhere in their business1, meanwhile 89% of organizations say it hasn’t produced a measurable return2. This sounds like a significant disparity, but in my experience, it is not actually that surprising. The question is, what’s the cause?
Russ framed it with an image of a healthy coral reef: light, water, and nutrients each matter on their own, but none of them produces a reef by itself. It’s the combination, and the conditions underneath it, that create something none of the parts contain alone. AI works the same way. The model, or the technology, is rarely the missing piece. The foundation underneath it usually is.
AI is only as good as the system of record
Access to a large language model isn’t the hard part anymore. It’s inexpensive, it’s everywhere, and nearly every organization in maritime already has it. What separates the teams seeing real value from the teams still waiting is what that AI is grounded in: a stable, accurate system of record.
The system of record isn’t simple. Here at Veson, we’ve been building it over the past 23+ years. It has come together through a unique combination of standardized and structured data, real-time operational data, configurable business logic, access control and security, and of course the ability to scale and connect with other systems.
These qualities create the conditions for AI success, much like the coral reef that Russ referred to. Without these qualities, AI can move fast, but not necessarily in the right direction. In the maritime industry, the value of this foundation surfaces in several ways, including:
- Embedded context: The contextual knowledge of the workflows and task at hand; for example, the ability for a fixture’s full history to carry forward instead of resetting with every new conversation.
- Domain intelligence: A system that understands the nuance of maritime, such as laycan, TCE, and demurrage without a lengthy prompt explaining them.
- Native governance: Access control and audit trails are built in from day one rather than bolted on.
These are the conditions we have built into the Veson Platform, a robust system of record that serves as the foundation for maritime trade.
The Veson Platform: one foundation for maritime trade
The Veson Platform is a single, integrated workspace built around four things every commercial maritime team needs: workflows, data, and collaboration, all enhanced with contextual AI under one login. IMOS, Q88, VesselsValue, Shipfix, and Milbros now work together in a more seamless, connected experience, while core capabilities such as CoCaptain AI, Connect, and Insights further enhance the Platform value for all users.
- IMOS provides the commercial maritime foundation at the heart of commercial workflows, while Shipfix supports chartering teams with structured orders, tonnage, and fixture data.
- Q88, VesselsValue, and Insights bring standardized vessel information, valuations, and validated data into the workflows where decisions are made.
- Connect and Mail align internal teams and external counterparties around the same operational context, bringing fixture and voyage communications into context automatically, right alongside the voyage and cargo records they relate to.
- CoCaptain AI works across the Veson Platform, using the context of each product, record, and workflow to add efficiency and improve accuracy wherever users are working. This functionality is included for all Veson Platform users across IMOS, Q88, VesselsValue, Shipfix and Insights at no additional cost.
This all exists on a shared data and intelligence foundation that can connect information from inside and outside the Veson Platform.
What that means day to day
For clients with multiple products, the value of bringing these products together compounds.
For chartering teams, the Veson Platform makes it possible to run estimates on validated vessel data and reference independent bunker pricing without leaving IMOS. Users can also use CoCaptain to cross-reference contractual terms or counterparty history in seconds instead of searching old email threads.
For operations teams, the Veson Platform presents voyage and cargo updates that stay current automatically, with fixture emails sitting alongside the records they affect. Users can also use CoCaptain to quickly answer a counterparty question or run a voyage P&L variance without pulling every version by hand.
For executives, it means the entire platform is reachable through CoCaptain: asking for a portfolio view or a P&L analysis on demand, instead of waiting on a team to compile one.
Built to grow, built for action
The point of a foundation is that you keep building on it. As we extend CoCaptain’s capabilities, add data products, and connect more of the Veson portfolio, none of it requires migrating data or relearning a system. That’s what a foundation is for: capability that compounds instead of resetting each time.
What’s more exciting is the groundwork we have set for the future. In the coming months, you’ll see how this system of record transforms into a system of action. I am incredibly excited for what’s to come, so be sure to follow along and reach out today if you’d like to learn more about what the Veson Platform can do for your team.
1McKinsey, The State of AI in 2025
