AI IN MINING
Artificial
intelligence – is the mining industry ready ?
Early days but adoption rising fast McKinsey ’ s Global Survey on AI in 2020 found more organizations are using AI as a tool for generating value , with highest percentages allocated to product and service development and service operations ( 24 percent ).
Michael Chui , partner , McKinsey Global Institute , said it ’ s clear we ’ re still in the early days of AI use in business with less than a quarter of respondents seeing significant bottom line impact . “ However , those seeing AI contribute more than 20 percent to earnings before interest and taxes are not just from the tech sector . So it is possible for any company to get a good amount of value from AI if it ’ s applied effectively in a repeatable way . We do think AI is worth the investment , but it requires effective execution to generate significant value , particularly at enterprise scale .”
Tim Brooks , VP of Sales and Vendor Management at PSA Security Network , believes 2021 will be the year AI becomes more mainstream . “ There will be increased deployment in edge devices , including cameras , thermographic cameras , radar and LIDAR sensors and entry point readers . Additional algorithms will be developed , greatly expanding the use and function as video surveillance transitions from a forensic tool to real-time analytics ,” he said .
In its Future of mining with AI paper , Deloitte / Norcat concludes : “ The growing evidence of their benefits indicates AIbased technologies in the mining industry are here to stay , allowing companies to make more accurate decisions faster , improve health and safety , boost efficiency and ensure human errors are almost negligible , all while helping create smaller environmental footprints .”
Bill Scudder , GM of AIoT Solutions at Aspen Technology , said there has been much investment in AI technologies in recent years among capital intensive industries as they look to improve
32 March 2021