AI and analytics
TOP 10
AI and analytics
Mining is now two industries in one , combining the physical and technological .
Digitalisation and analytics can enable safety improvement and increase the reserves base by reducing average site costs , lengthening the life of the mine , and increasing NPV .
McKinsey estimates that , by 2035 , mineral raw materials producers will save between $ 290bn and $ 390bn annually in the age of smart mining , which includes autonomous mining using data analysis and digital technologies like AI . As companies work to protect their workforce and maintain profitability during and after the COVID-19 crisis , the need to embrace AI and agile methods has only become more acute .
Companies should switch from using empirical models to AI in dayto-day management and operations decision making , and move from relatively rigid production planning using long-term budgets to short , twoweek-horizon planning and increased agility across the value chain .
They are also advised to move from ' single-recipe , plug-and-play tools ' to multiple value-driven , builtfor-purpose methods tailored to specific requirements . miningdigital . com 59