Limassol-based Island Oil Holdings is moving ahead with a wide digital transformation programme centred on artificial intelligence.

The group “is taking decisive steps to embed Artificial Intelligence (AI) across our business, with a clear strategy to enhance efficiency, decision-making, and operational excellence”, according to Chief Technology Officer Gregoris Gregoriou.

He noted that, beyond early adoption, the company is “actively exploring how advanced technologies, such as Robotic Process Automation (RPA), Augmented Reality (AR), Blockchain, and next-generation cybersecurity, can work together to create a smarter and more resilient digital ecosystem for the Group”.

According to him, “our goal is not simply to use AI, but to integrate it into day-to-day operations, automate repetitive processes, empower commercial and technical teams, enhance security, and unlock predictive capabilities that will strengthen fleet operations and commercial performance”.

He provided an overview of how the Group is already using AI and how it plans to expand its implementation.

In the first phase, Island Oil Holdings “has taken important steps toward integrating AI into its operations and strategic initiatives”.

The company’s AI chatbot, the Island Oil Agent, is fully deployed and integrated with Microsoft Teams, offering “instant access to manuals, procedures, and guidelines from the IHL Management System, streamlining internal knowledge sharing and significantly reducing response times”.

In addition, selected employees have access to Microsoft Copilot and ChatGPT Plus for chart generation and document drafting, while a wider rollout remains under evaluation.

Users have also been introduced to AI technologies through training sessions and webinars on Microsoft Copilot, with demonstrations of its integration across Excel, Outlook, Teams and PowerPoint.

Gregoriou said that as internal and external data collection grows, the Group is “better positioned to utilize predictive analytics”.

In this context, Island Oil Holdings is evaluating a new AI tool for Business Intelligence “which will enable predictive reporting on areas such as sales, profitability, bad debts, demand forecasting, and more”.

Alongside AI deployment, the company has also begun its RPA rollout. Gregoriou explained that Island Oil “has embarked on its RPA journey with a globally recognized automation platform”, integrating bots to automate repetitive tasks, “improving accuracy and freeing up resources for higher-value work”.

Current processes include bank reconciliations, bank charges reconciliations and bank interest reconciliations.

He added that “the demonstrated benefits of RPA have encouraged further user demand for additional automated processes”, while the long-term vision is “to integrate RPA with AI, combining process automation with intelligent decision-making to increase productivity and minimize operational friction”.

Island Oil Holdings is also assessing augmented reality for shipboard operations. According to Gregoriou, the Group is evaluating the use of AR glasses for chief engineers, noting that combined with high-speed satellite connectivity and AI capabilities the solution “would allow onshore technical superintendents to conduct live visual inspections of onboard machinery and systems”.

In case of malfunctions, it would allow “immediate remote guidance and diagnostics”, supporting safer and more efficient ship management.

On blockchain, Gregoriou said that while the technology has not yet been implemented, it has been under discussion with Danaos Systems Cyprus for use on the Danaos Trading Platform.

The company is focusing on “smart contracts in bunkering”, aiming to leverage blockchain to “ensure transaction integrity, prevent fraud, and secure agreements between suppliers and shipowners”, as well as supply-chain transparency solutions to “strengthen documentation integrity and provide real-time logistics visibility”.

When combined with AI, these systems could validate transactions, detect anomalies and flag risks in real time, while offering predictive insights from verified records.

Island Oil Holdings has already integrated AI into its cybersecurity framework. Gregoriou said the Group uses “advanced Endpoint Detection and Response (EDR), Managed Detection and Response (MDR) and Extended Detection and Response (XDR) systems”.

These tools deliver “AI-powered threat detection, behavioral analytics, and automated remediation capabilities”, continuously monitoring for suspicious activity and privilege escalation, while AI algorithms prioritise threats and reduce false positives.

Finally, Gregoriou said the Group’s digital transformation “is not based on technology for its own sake, it’s about improving efficiency, ensuring security, supporting our vessels and our people, and preparing the organization for the next decade of growth”.

As Gregoriou put it, “as AI capabilities continue to evolve, so will our ability to automate operations, make smarter decisions, and provide even higher standards of service to our global partners”.