Since the dawn of civilization. Humans have mined the earth beneath us, extracting valuable resources and materials to craft tools, weapons, and items of value to share in a primitive barter economy decades ago. did.
Archaeological records show extensive mining of resources such as flint during the Neolithic period, for example. Precious metals such as copper, tin and iron were then key to the economic growth of ancient civilizations scattered across Greece, Egypt, the Italian Peninsula and the Near East.
Fast forward to modern times and mining operations are on a truly monumental scale, with even the largest mines of antiquity becoming much smaller. Modern mining plants and pits are of enormous scale, operating like small cities, employing thousands of workers across myriad functions, and working to meet the insatiable demands of the modern global economy. Everyone works in sync.
Talent remains a key factor in meeting this demand, but technologies such as artificial intelligence, machine learning and advanced analytics are transforming the industry and delivering significant benefits to operators.
speak in girder exhibition Thursday 10th In November, Weir Group Chief Data Officer Gillian Tomlinson provided some fascinating insight into how the mining industry is leveraging new technologies to unlock value, streamline operations and increase efficiency.
In particular, Gillian discussed the concept of data monetization, exploring how organizations can leverage the data they use to deliver value and long-term commercial benefits.
Data is often referred to as the ‘new oil’ for companies in many global industries, but Gillian noted that data can create much greater long-term value if used efficiently. .
she said: “There are similarities between data and oil: extracting it, processing it, driving processes and businesses.
“But the foundation of data monetization is where data and oil are not alike. First, it is a non-consumable asset and can be consumed multiple times. Can be sold and offered for the process.
“This is also regeneration. So using oil doesn’t produce more oil. But every time you use data, it produces more data.”
“The true core element of data monetization is that more connections mean more value.”
In particular, Gillian highlighted three key points about the value of data monetization and the benefits it can bring to your business.
First, organizations are becoming increasingly adaptable and innovative when it comes to leveraging internal data.
Rapid investments in data science capabilities are enabling businesses to better quantify the economic benefits, cost savings, and customer experience improvements generated by their data.
Continuing on the economic benefits, she added that giving data science teams the freedom to fine-tune their capabilities will enable companies to become more intelligence-driven and deliver products, solutions and services at a faster pace. I was.
She noted that leveraging second- and third-party data can bring significant benefits to organizations, especially the mining industry. Expanding the range of industry platforms, APIs, and marketplaces at the disposal of organizations will facilitate the development of more diverse data sets and facilitate tighter integration of data sets.
New technology in traditional industries
Drone technology is increasingly being used in the mining industry, Gillian said. This allows operators to fly over mines to identify potential obstacles, highlight key areas of interest, and address health and safety issues.
Similarly, operators are using self-driving cars and AI-powered robots to perform human tasks and monitor hazardous environments and hazardous areas at mining sites.
Wearable technology is also an area of growing interest in the industry, Gillian revealed. This enables you to provide frontline workers with dynamic new technology to streamline their daily operations.
she said:
“Imagine an engineer who has been on the ground in Chile for 30 years. I will tell you.” Operations beyond the reach of humans.”
Gillian added that a key challenge for operators is facilitating cultural change when adopting new technologies. It’s not enough to roll out a shiny new product line and expect your staff to use them effectively.
This requires close collaboration with employees to facilitate upskilling and training to maximize the value of technology.
AI and digital twins
Miners, like other modern industries, are now using AI and machine learning at scale across their supply chains.
In particular, Gillian highlighted Formula 1 as a key example of an industry where AI and analytics are being used to great benefit.
Simulations are used to model the optimal performance of vehicles and establish ideal routes around specific race tracks. All of these take into account metrics such as driver ability and weight, vehicle efficiency and dynamics, she said.
In mining, the situation is similar for operators.
She explains: This helps improve predictive maintenance.
“And there is a much bigger proposition [for AI & ML] in the industry. We believe that if we can improve the transparency of our mines or mining sites, we can generate much more insight and more value for our customers.
“We have a product that measures shadow metrics and particle analysis metrics.
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Gillian adds:
“This will help us understand how to drive predictive maintenance and prevent situations like this from occurring in the future.”
environmental concerns
However, using new technology in the mining industry does more than just improve cost margins.
In an era of heightened climate concern, technologies that help improve operational efficiency play a key role in reducing environmental impact and greenhouse gas emissions.
Mining is responsible for 4-7% of global greenhouse gas emissions, which is a significant portion of global emissions.
Gillian added that pressure from governments, investors and society at large has increased investment in innovative technologies and new methods.
she said:
“Amazing things are happening with synthetic resources, water and energy alternatives, and how materials are recycled.”
This wave of investment means that the global mining automation market is expected to appreciate rapidly. The market is expected to surge from $5 billion to about $8.6 billion by 2030, according to a Grand View Research study conducted in September this year.
Mining plays an important role in the global economy. And as long as investments in emerging technologies continue, the sector will have the tools and solutions to accelerate efficiency, feed a technology-driven world, and redefine its status as a forward-thinking, green industry. will consistently and stably provide
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