A new trading system designed to prevent aviation chemicals from being wasted by going out of date has been developed by the Singapore Institute of Aerospace Engineers (SIAE).
Nicholas Tan, vice president of the not-for-profit organisation, revealed that it will launch a pilot of the secondary market platform for petrol, oil and lubricants having built two virtual AI agents.
One agent will track expiry dates while the other will allow the chemicals to be traded. Tan said: “We want to pilot that in Singapore. For companies you will be able to recover some of your costs by selling chemicals before they expire.
“We want MROs and airlines to work with us. AI agents are able to generate good feedback and managers can decide if they want to sell their POL [Petrol, Oil and Lubricants].”
Tan said the system will help airline and MRO operational manager predict the day-to-day use of these chemicals so they can optimise the use of their inventory though “real time visibility”.
Tan said by building partnerships in aviation businesses that include operations as well as finance teams, AI technology will help the sector to achieve its goals more quickly im moving from predictive maintenance to prescriptive.
He said airlines can make “smarter decisions across the lifecycle” and “use data science and AI agents to do that for you” while keeping humans in the loop.
“The technology is easy,” he said, “but we all know changing culture is very difficult.” He added: “In aviation trust is the only thing that flies long-haul. If our industry can trust each other we can work very, very closely with each other not just in Singapore but in Asia Pacific and globally.
“Let’s build a truly connected, productive maintenance industry. We require all the data and all the experience of airlines and MROs so we can solve the problems together."
