Underground Mines Seek Business Value from Artificial Intelligence and Machine Learning (AIML)
More than 75 underground mines worldwide currently utilize Newtrax sensor-based solutions to capture big data on real-time events tied to mining vehicles, workers, and the underground environment.
For years, clients have called on Newtrax’s world-class mining savvy experts to help them consolidate and transform these huge amounts of data into simple actionable insights through reports and data visualization tools.
The next step is to optimize the use of this collected data by leveraging the use of Artificial Intelligence and Machine Learning techniques and tools. According to Alexander Wissner-Gross, it is datasets — not algorithms — that have historically been the key limiting factor to development of human-level artificial intelligence. That being said, companies Like Newtrax are already at an advantage, as they have already collected large datasets, ready to be processed by algorithms.
Understanding the Volatility and Opportunity of AIML
We are in a period of fascinating volatility in AIML, as these fields are changing the marketplace at an unprecedented speed. As we all know, AI research has seen many cycles in recent history, but it is this current cycle that is finally delivering business value thanks to the recent availability of big data and the new computational models of GPUs and TPUs.
Evidently, an important success factor for sustainable AIML development for mining is to understand this volatility in the AIML technologies resulting from the massive research efforts around the world.
Meanwhile, a significant gap exists between the innovations in AIML and the fairly limited availability of AIML products and expertise in the underground mining industry. Newtrax is committed to bridge that gap.
Newtrax embodies an enthusiastic and diligent approach to working with those passionate about underground mines in order to learn how to harness AIML’s business value and opportunities despite the technology volatility.
The Focused Strategy that Starts Now
Here is a condensed list of the objectives we have set for ourselves in 2018:
- Listen to our customers. Especially those ready to be early AIML adopters. Our world-class team of underground mining savvy experts seek to capture crucial operating metrics and pain points and translate them into plausible and compelling use cases for AIML pilot projects.
- Focus on finding a plausible ROI for each use case. But actively look to uncover strategic competitive advantages for our customers.
- Leverage the open and modular architecture of the Newtrax Solutions which is meant to integrate with existing Customer Systems who can pick-and-choose the pieces they want to integrate while also making it easy for Newtrax R&D to include and connect newer more powerful AIML pieces as they become available.
- Leverage existing AIML platforms from global players (ex: Google) while creating innovative solutions that drive business value for mining industry specific applications.
- Continuously look out for emerging AIML application.
- Learn from our close relationship with Montreal-based IVADO, the largest researcher consortium in Canada in Data Science, AI and Operations Research.
- Share, interact and collaborate with Montreal’s very large community of public and private AIML and Deep Learning researchers (see this chart and this video about AIML and Montreal).
The Future is AI
According the this recent HBR article, over the next decade, AI won’t replace managers, but managers who use AI will replace those who don’t.
This is something that we at Newtrax believe is quite accurate, and our goal is to equip those managers today with the strategies and tools needed to achieve that edge.
Meanwhile, this article by Ernst & Young states that the #1 risk miners face in 2017-2018 is “Digital Effectiveness”, which is why we are focused on making sure the AI objectives set by our customers will fit seamlessly with their other digital transformation initiatives.
Without a doubt, Newtrax technologies, the world leader in big data from underground hard rock mines, holds a unique position to driving value for its customers through AIML. Newtrax is fortunate to be already working in core operations with leaders in underground mining worldwide with hands-on experience capturing and managing big data and is committed to creating real-time business intelligence and business value from underground mining big data using AIML based solutions. Let’s get started!