Two out of five finalists in a disruptive technology competition for the mining industry feature machine learning or artificial intelligence (AI) solutions, according to contest organizers.
The artificial intelligence (AI) trend has been making waves in the technology industry, with AI being used to power voice-activated personal assistants, develop some of the first examples of self-driving cars, and offer contextual advice to professionals such as lawyers and doctors. Now it looks like the AI wave is rolling into the mining industry at the Prospectors and Developers Association of Canada conference, which is taking place on March 5 in Toronto.
The #DisruptMining event is sponsored by Integra Gold Corp. and Goldcorp Inc. and has been narrowed down from 153 initial submissions. The point of the contest is to help the mining industry unlock some potentially revolutionary advancements, something the sponsors say has been lacking when compared to other sectors. In other words, as seen in the video below, it’s time to “Uberize” the mining industry.
Here are the two firms developing AI solutions, as described by the press release:
Goldspot Discoveries developed a machine-learning algorithm capable of significantly improving mineral exploration targeting on both a regional and local scale. Goldspot Discoveries is revolutionizing the investment decision model by using the Goldspot Algorithm to stake acreage, acquire projects and royalties, and invest in public vehicles to create a portfolio of assets with the greatest reward to risk ratio. Managed by seasoned industry experts from both financial and technical backgrounds, the team is armed with a unique technological edge designed by the Data Miners, the next generation of mining genius and runners-up in the 2016 Integra Gold Rush Challenge.
Kore Geosystems Inc. The true power of machine learning and artificial intelligence can only be unleashed with robust, high quality data inputs. KORE plans to install instruments onto drill rigs that can provide real-time, automated data accelerating timelines for multiple mining stages and decision-making intelligence. The KORE team, Vince Gerrie, Aaron Maher, Sebastian D. Goodfellow, Chris Drielsma, Patrick Hooker and Chris Lane, bring together years of expertise in geology, geophysics, software engineering, and technology development.