The Globe and Mail reports in its Monday edition that mining
lags other industries in one critical aspect: digital innovation.
Guest columnists John Chambers and John Thornton write that shortcoming significantly
threatens the industry's ability to
meet future demands and survive
in the digital age. Companies that fail to
embrace the digitization trend will not survive.
Mining needs to reinvent itself.
The only way companies will cut
costs and increase efficiency will
be to embed digital technologies
in every dimension of how mines
are operated and managed. This transformation will require technology
companies and the mining industry to partner together
in new ways. Last week, Cisco and Barrick Gold agreed to reinvent Barrick's
business. Over the course of
the partnership, Barrick and Cisco
will bring digital capabilities to
Barrick's entire organization, from its mines around the world
to Barrick's head office in Toronto.
For instance, advanced sensing
technology and real-time operational
data will improve decision
making. Equipment will be automated
for increased productivity and worker safety. Predictive
algorithms will enhance the precision
and speed of maintenance and metallurgy.
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