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Debashis Ghosh
President, Business Group Head, TCS
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TCS’ recent AI for Business Study surveyed 90 operators in the energy and resources industry, including 48 mining operator and 42 oil and gas companies, and found that most energy and resource operators (92%) have AI implementations planned, in process, or already completed. Miners and mining technologists across the globe are exploring the disruptive possibilities of AI for various corporate functions.
AI makes it possible to redesign mine operations for modular, flexible processes where capacity can be scaled up or down in small increments. It could reshape the mining industry by eliminating the boom-to-bust cycle driven by the traditional capital-intensive approach of large capacity additions.
Over half of the industry is using AI to boost productivity and sustainability, including improving ore analysis, optimizing drilling, and overhauling the mineral recovery process. A welcome shift to autonomous vehicles and AI-driven safety measures are being embraced by the industry practitioners resulting in reduced workplace hazards and environmental impact.
Key trends that are being observed in the usage of AI in the mining industry are:
From a miner’s perspective, AI and GenAI initiatives are clearly skewed toward the corporate functions of safety, procurement, marketing and sales, and regulatory compliance. But with greater benefits residing in the core processes of mining and exploration, AI initiatives in these sections of value chain are getting wider acceptability.
Looking at the wider acceptability of AI across the value chain of the industry, the impact will be felt across operations, business, and strategy. The reliability of AI is improving by the day, adoption is expected to improve significantly soon. AI’s integration is crucial for the mining sector’s evolution toward a smarter, safer, and sustainable future.
(This is an edited excerpt from an article published on Global Mining Review. Read the full story here.)
Debashis Ghosh
President, Business Group Head, TCS
By harnessing the power of AI, miners can not only meet the demands of a rapidly evolving world, but also pave the way for a more sustainable, resilient, and safe future.