How Digital Innovation Transforms Mining Productivity
Digital innovation is revolutionising the way in which mining operations are being conducted, driving unprecedented advancements in productivity. According to recent industry reports, the global mining equipment market is projected to reach USD 166 billion by 2024, growing at a CAGR of 7.9%. This surge is attributed to the integration of cutting-edge technologies such as Machine Learning (ML), Artificial Intelligence (AI) and Internet of Things (IoT) into mining practices. Trends shaping the Mining Landscape: One key trend shaping the mining landscape is the emphasis on data-driven decision-making. Modern mining operations are generating vast amounts of data, and companies are harnessing this information to optimise processes and enhance productivity. Data analytic tools enable real-time monitoring of equipment performance, predictive maintenance, and resource optimisation, leading to significant cost-savings. Another key trend is the advent of remote monitoring and control syst...