The mining industry has suffered a series of pressures associated with falling commodity prices. The industry is at a point where many companies are working to introduce new standards to improve productivity. Companies must continually adapt these new processes to make sure that the industries are able to transcend into new learning prediction and autonomous techniques.
AI is the key to new trends that can disrupt models for the future. Mining companies are working to adopt the use of AI in digital technology to maintain functions throughout their business and to enhance operations from the perspective of logistics, exploration, and efficiency.
The Value Chain of AI in Mining
Assessment For Underground Operations
Machine learning and geotechnical assessments are happening in a short interval of time thanks to a series of 3-D mapping data that is used for the machine learning algorithm. This can lead to fewer problems with plate the formation, mesh bagging, cracked shotcrete, spalling, and more.
AI-powered Autonomous Equipment
AI finds a series of applicability improvements through the economist operation of heavy equipment in mining across the globe. Existing technologies and fleet management systems continue to use GPS and systems like radar. The latest AI-powered autonomous vehicles use a series of augmenting conventional features that combine sensor output with deep learning systems for improvements with efficiency and precision. Autonomous vehicles can also reduce safety hazards in the mine site while improving efficiency over time.
Solutions for Procurement
There’s been a series of challenges within the mining industry including problems with sourcing for lead times, increases in regulation, vendor multiplicity, third-party supply risks, and more. Virtual advisory agents will make sure that strategic decisions can be made for on the spot buying, supplier selection, and a series of category management. Advisory agents will be able to classify some of their suppliers with risk profiles to get a better picture of when they can receive their items and how they can run a business more efficiently.
As more mining companies begin to utilize artificial intelligence applications for managing the challenging aspects of the industry, it is possible that a cultural change can be created within the workforce and these changing technologies will continue to align better efficiency from stakeholders while embracing new digital practices for a business. The customer experience and the benefits from this ripple effect will continue for years to come.
If you’re interested in learning more about AI technology in mining, contact us today for the solutions we can integrate with your company.