Industry Report: Mining Wear Parts, Machine Learning & Deal Making
This was originally published by LCC Asia Pacific.
Demands from mining houses for greater productivity is increasing the urgency for engineering and mining services companies to deliver technology breakthroughs and service based efficiencies.
For Boards & Leadership teams that are not use to dealing with rapid technological change, a challenge exists in pinpointing investment and acquisition opportunities that will deliver both shareholder value and client "stickiness". Just as has happened in other industry sectors, today's "1.0" METS technology solutions are already becoming redundant in a rapidly changing landscape.
Then enters machine learning and "AI". For CEO's and Boards considering making investments or acquisitions in the machine learning/technology space, the decision matrix is completely different than what would be considered for a traditional industrial acquisition. there are many unique challenges, and a fair deal of "smoke and mirrors" currently around what is truly "predictive'' technology.
This paper outline several factors that need to be considered in the pursuit of the next generation of transaction. It also provides a basic overview of the Machine Learning Algorithm and its potential application in the Mining Services sector in areas such as maintenance.
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