The importance of digital technologies to the mining industry is increasingly recognized as organizations explore solutions to mitigate geological uncertainty, market volatility and operational risks. Big Data and the IoT provide “outside the box” opportunities to rethink existing processes in order to unlock additional value.
The question is not so much about relevance anymore, but rather about strategy: How do we get there?
Leading mining organizations are investigating & investing in transformative strategies that would leverage digital innovation technologies.
Organizations no longer seek incremental technological improvements, but rather disruptive changes in order to deliver sustainable productivity gains. Also, the investment horizon is no longer 1-5 years, but rather 10+ years.
Change is a complex process, naturally, as it involves breaking habits, rethinking methods and getting off the beaten track. It requires efforts in order to succeed and establish a new reality. This is particularly relevant to the mining industry, which is historical and subject to inherently complex factors. Yet, change has become a must for the industry and organization have started engaging on a transformative journey. Following a disciplined approach is critical for success.