In order to feed a growing world population we need to source an increasing amount of farmed fish. But the industry need to overcome several challenges in order to reach its potential. Advanced analytics is part of the solution and can help fish farmers improve feed efficiency, fish health and reduce mortality levels.
The world needs more food
To feed a population that may reach 9.7 billion people in 2050, we expect an increase in food demand anywhere between 60% to 98%. Due to expanding urbanization, we will need to produce this food on a decreasing amount of land suitable for agriculture and crop production.
Consequently, a large portion of this food must come from farmed protein sources, which may yield extensive growth in the aquaculture industry.
Global seafood consumption
Farmed fish production is expanding 4 to 5 per cent a year, putting it on course to eclipse the output of wild fishing as soon as 2019, according to the UN Food and Agricultural Organization.
The Norwegian seafood industry alone has been estimated to have a growth potential of six-fold within 2050. This will require an increase both in the quantity and size of fish farms, as well as improved production efficiency.
A set of interconnected challenges
To realize this potential, the industry must address a set of barriers that are currently preventing the ability for such a substantial growth. Whether we talk about acreage limitations, fish health and welfare, feed efficiency, diseases, medicine and treatment, or high mortality rate, an exponential growth will increase these challenges in strength and number.
As real-time sensor data increasingly becomes mainstream, some of the growth barriers can be analyzed in completely new ways. Advanced data analytics can help us unravel and understand how a broad set of variables and indicators influence the farmed fish from smolt to consumption.
The exploration and use of digital technologies to gather and analyze large sets of data will be crucial to increase operational efficiency and growth. Increased focus and knowledge of data-supported analyses can lead to a shift in focus from “what did happen” to “what might happen”, enhancing the operators’ ability to take proactive measures.
Unlock the value of data
We can help address these data issues. We ensure that processes are structured in a way that harvest data fit for purpose. Managing data as an asset gives the fish farmer a better understanding of:
- Which data they have and the condition of those data
- Which data they would like to have
Through our role as a trusted and independent partner, we seek to enable sharing of data and analytical insights between companies to the benefit of the industry. To accelerate this process, we promote additional access to prequalified public and commercial data that further enhance opportunities for advanced analytics. We facilitate this through the Veracity open data platform with an industry wide data lake. This is our integrated ecosystem of services that can help the industry gather, quality assure, structure and present complex sets of both historical and real-time data.
Wide experience from the aquaculture industry
We are an established player in the aquaculture value chain. We provide certification and technical services, we assist in identifying the right sensors, we analyze operations and examine food safety.
We know the industry and build trust from below the water all the way to the consumer. With our experience from digital transformation in industries like maritime and oil & gas, we also know what data fit for purpose looks like, how to gather and how to manage access.
The Veracity ecosystem collect, structure and present actionable information that can unlock a substantial growth potential in the global aquaculture industry and empower advanced analytics that help create the trust necessary for our future’s sustainable aquaculture growth.