Mineral Resources
Today’s mining industry in more sophisticated with more significant pieces of equipment. The mining sector is slowly reshaping and rapidly evolving with machine learning and artificial intelligence. Mining is about producing commodities faster and cheaper. Using artificial intelligence, machine learning, and autonomous equipment to improve productivity and efficiency immensely helps this sector. It’s become a real game-changer for countless industries, including major players in the mining industry. Success in the mining industry increasingly depends on changing the way it does business. A better understanding of how technology can ensure resources are used optimally along with safer and more productive operations. Automation and use of AI and Machine Learning can significantly help save costs, increase efficiency, and have tons of other benefits for companies, completely changing from the traditional way. Autonomous and smart pieces of equipment are changing the industry. AI is enabling mining companies to become insight driven enterprises that utilize data to derive critical benefits.
Today, mining leaders are looking to the suite of advanced technologies related to artificial intelligence (AI), such as machine learning to accomplish tasks, make decisions, create engaging interactions, and generate more substantial business outcomes. These partnerships are increasingly critical to ensuring technology enhances its core values and capacities while remaining flexible and cost-effective. The mining sector can gain immensely from these advanced technologies in improving operational efficiency and reducing costs.
The mining sector’s challenges starting from scarce resources, changing demographics of volatile commodity prices are ongoing. In some areas, resources become deficient or depleted, pushing companies to new frontiers of exploration. With mines getting more profound, the risk of collapse has increased. With a rise in surface temperatures, the temperature of a mine is more likely to fluctuate. Companies find it
challenging to plan income and expenditure because of unpredictable commodity prices. With the rise in global warming, miners are now looking for green mining options by reducing their carbon footprints. Additionally, low-grade ore, longer haul distances, stalled capital projects, squeeze on cash flow, and pressure on profitability leaves the mining sector looking at ways to overcome barriers and stay competitive.The mining sector, from a people-oriented operation shifts to a process-oriented one with artificial intelligence, McKinsey estimates that by 2035, the age of smart mining achieved through autonomous mining using data analysis and digital technologies like artificial intelligence (AI) will save between $290 billion and $390 billion annually for mineral raw materials producers. Some of the additional benefits of AI in the mining sector are faster decisions with greater accuracy, improved health and safety, increasing efficiency through error elimination, and reduced carbon footprint.
The mining sector requires more and more investments in various artificial intelligence technologies for effective and efficient operations. The use of digital technologies, analytics, automation, and process re-engineering to tap the potential for productivity improvement will be the future of mining.
AIGC partners with mining enterprises to leverage artificial intelligence, machine learning, and digital technology. AI-driven automation enhances digital control systems to boost reliability and accuracy at mining sites. Remote sensing data is practiced for rock-face identification, soil classification, and drone-based monitoring to predict potential ores’ locations and monitor environmental changes and predict erosion, wildlife habitats, topsoil redistribution, and vegetation. We also combine robotic automation and industrial IoT to manage autonomous drilling systems and hauling fleets. AI and robotics can simplify the complex mining tasks of extraction and processing while allowing operators to control a remote location drill without entering hazardous areas. The transformation that AI can bring in the mining industry is immense. Our mining experts conduct workshops to define future operation mode and assist with digital mining assessments to improve asset management.