AI and ML can help the mining companies to search for minerals from which they can extract their resources.
FREMONT, CA: It hasn't been long when Artificial Intelligence (AI) was newly introduced, which has now technically impacted the world in a colossal way. With things changing rapidly, AI has also grown into being a real game-changer for numerous industries, including leading players in the mining industry. In the mining industry, factors like improved efficiency and productivity are essential for the company’s profitability. Besides, smaller improvements in yields, speed, and efficiency also out a high impact on the industry’s revenue.
The process of mineral exploration involves the collection of a massive amount of data in the form of soil samples, geochemistry, chip samples, assay results, and drill results. Every drill hole is a small picture of the entire process of forming the earth. Drill holes create more than a thousand megabytes of data, which brings a lot of difficulties to compare one project to another, to find the best insights. Leveraging machine learning (ML) can train the computers to identify the areas that show similar patterns to the traditional discoveries.
Some companies aim to make resources and minerals more for science than art by making use of machine learning. Similarly, there are a few others who collaborate to use AI to review the geological data available to figure out better drilling locations for minerals.
Leading metals and mining corporations have already implemented autonomous haul trucks that can carry more than 350 tons and independently operate while carrying out processes. The vehicles have been advantageous when it comes to fuel reduction as compared to the traditional ones and are much safer to function.
Additionally, AI can lend a hand toward the mining engineers and workers to stay safe from accidents and injuries on the job site. With an ample amount of high-quality data, companies can also predict failures that can affect the production statistics, as well as be fatal to the workers nearby. Furthermore, along with predicting failures, companies can leverage the technology to foresee other potential hazards by studying the patterns.
AI can do more than just predicting when equipment might fail, or hazards might happen. Mining companies can continuously analyze the health and performance of the machine, which is significant to eliminate surprise failures and threats to workers.