AI and IOT
Artificial Intelligence (AI)
The pivotal role of artificial intelligence in today’s technology landscape, particularly within the realms of the fourth industrial revolution, cannot be overstated. Its transformative impact is expected to permeate every industry, including the mining sector. Recognising the evolutionary and revolutionary potential of AI is imperative for senior industry managers. By adopting AI, businesses can enhance job roles, streamline operations, and unlock new avenues for value creation, ultimately bolstering overall efficiency and reducing costs.
With the projected surge in AI utilisation, estimated to exceed 35 percent by 2030, leading steel industries such as ArcelorMittal, Bao Steel, POSCO, and Nippon Steel have already embraced this technology, underscoring its widespread availability.
Internet of Things (IoT)
The Internet of Things refers to the integration of sensors, mechanical actuators, and data communication technology into physical objects, enabling their monitoring, coordination, and control across a network or the internet. This technology involves the collection, processing, and analysis of data, with AI playing a pivotal role in optimising raw material management and operational efficiency within the mining and mineral industries.