pipeline-2019a.svg

Search

Categories

Oil & gas industry starts pumping again with US$15 bln M&A transactions: Wood Mackenzie

Lloyd’s Register partners with STC Global on HSE management

Sep 02, 2020
3 min read
Print this page

Lloyd’s Register has partnered with STC Global to use AI to unlock insight from the vast amounts of incident data captured by HSE functions but left untapped.

Leveraging complementary expertise, the partnership will raise the game for HSE professionals by integrating Natural Language Processing AI and root cause analysis technologies for the first time.

The outputs from the partnership will help HSE professionals to better identify and understand the underlying causes of HSE trends, patterns, systemic problems, and latent dangers. By developing a tool that provides a holistic, end to end view of incidents – past, present, and potential – HSE professionals will gain a comprehensive understanding of the key hazards associated with each incident in real time. Once deployed, HSE professionals will be able to gain deep insight into the where and why of safety issues, ensuring each can be addressed more efficiently and effectively than ever before.

Lloyd’s Register CTO Nial McCollam stated: “Lloyd’s Register’s purpose is to help make the world a safer place and our partnership strategy is key in helping us deliver that. Together Lloyd’s Register and STC Global will raise the game of HSE management and AI technologies and bring about a step change in the improvement of workplace safety.”

STC Global managing director Mark Rushton added: “We are very proud to partner with an organisation of Lloyds Register’s stature, although both organisations seek to help clients to control risk and improve performance we were surprised at just how complementary we are. Our first joint venture product will deliver a suite of incident prevention solutions which particularly excites us as it sees our COMET platform utilise machine learning for the first time.”

As part of the development of its integrated digital HSE programme for clients, Lloyd’s Register will leverage its leading artificial intelligence solution LR SafetyScanner built to ingest large amounts of data and then cluster them to provide HSE professionals with actionable insights across 24 hazard categories. Similarly, STC Global will apply COMET, one of the best and most progressive solutions in the field of Incident Investigation and Root Cause Analysis. Both solutions are well established in international marine, food and beverage, and energy sectors.

Some of the key benefits of combining the two technologies will include the ability to capture recurring systemic root causes and commonly occurring root cause clusters, map out hazard ‘hot spots’ and emerging trends to focus improvement strategies and prevent incidents in the future, to create safer more profitable work environments.

RELATED POSTS