Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) — The “Artificial Intelligence (AI) in Mining – Thematic Intelligence” report has been added to ResearchAndMarkets.com’s offering.
The global AI market is poised for remarkable growth, with projections indicating a value of $909 billion by 2030, expanding at an impressive compound annual growth rate (CAGR) of 35.2% between 2022 and 2030.
This exponential growth is fueled by recent advancements in machine-learning algorithms, such as OpenAI’s GPT-4, coupled with the increasing computing power, allowing AI to revolutionize problem-solving in real-time.
One sector where the impact of AI is particularly pronounced is the mining industry. Companies in this sector are actively seeking innovative solutions to enhance productivity, cut costs, and identify new mineral sources. Already playing a significant role, AI’s influence is expected to magnify in the years ahead, reshaping mining operations.
Despite its potential, embracing AI represents a substantial investment, particularly for mining companies grappling with the aftermath of the COVID-19 pandemic and the subsequent economic downturn. As these companies navigate financial challenges, they face the imperative to reevaluate their allocation of resources in order to adopt emerging AI technologies.
The transformative power of AI is manifesting across industries, making its mark in real-time problem-solving and revolutionizing traditional workflows. With the AI market’s projected growth and its already tangible impact on sectors like mining, companies are compelled to chart a strategic course forward to harness the full potential of this technological revolution.
Scope
AI enables mining companies to use autonomous machinery and data to improve efficiency and productivity and reduce downtime. These tools can reduce operational costs for mining companies. Autonomous machinery can also reduce the requirement for on-site workers, thereby removing them from potential hazards and improving safety. AI can help companies better understand the environment and terrain where exploitation is to begin. According to Glencore, this can save firms up to 80% of unnecessary costs
Reasons to Buy
Understand the impact of the AI theme on the mining sector. Understand the impact of generative AI on the mining sector. Access the latest data on the AI theme within the mining sector. Identify the leading digital transformation efforts from mining companies through investment into the AI theme. Access case study insights on leading players within the AI theme.
Key Topics Covered:
1. Executive Summary
2. Players
3. Consumer Challenges
4. The Impact of AI on Consumer
5. Case Studies
6. AI Timeline
7. Market Size and Growth Forecasts
8. Signals
8.1. Mergers and acquisitions
8.2. Patent trends
8.3. Company filings trends
8.4. Hiring trends
8.5. Social media trends
9. AI Value Chain
9.1. Hardware
9.2. Data management
9.3. Foundational AI
9.4. Advanced AI capabilities
9.5. Delivery
10. Companies
11. Sector Scorecards
12. Glossary
13. Further Reading
14. Thematic Research Methodology
15. About the Publisher
16. Contact the Publisher
A selection of companies mentioned in this report includes
- ABB
- Agnico Eagle
- Akkio
- Alibaba
- Alphabet
- Amazon
- AMD
- Apple
- Baidu
- BHP
- Boliden
- C3.ai
- Caterpillar
- Champion
- DroneDeploy
- Earth AI
- EVRAZ
- Fortescue
- Freeport McMoRan
- Goldspot Discoveries
- Hikvision
- IBM
- Imago
- Kobold Metals
- Komatsu
- Minerva Intelligence
- Newcrest
- Rio Tinto
- Sandvik
- SenseTime
- Teck Resources
- Tesla
- Vale
For more information about this report visit https://www.researchandmarkets.com/r/8p4o9e
Source: GlobalData
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