Colossus has partnered with the Irish Centre for Research in Applied Geosciences (iCRAG) and Ireland’s National Centre for Applied AI and Data Analytics (CeaDAR) to drive research into the current climate in the industry, understand best practices, and identify innovative opportunities.
Irish Centre for Research in Applied Geosciences (www.icrag-centre.org)
iCRAG is the Science Foundation Ireland’s Research Centre for Applied Geosciences with a team of researchers creating solutions for a sustainable society. ICRAG develops innovative science and technologies to better understand the sustainable discovery of raw materials required for decarbonisation.
Colossus is proud to partner with iCRAG to research and produce a literature review outlining the current academic thinking on best practices in the development of an Operational and Business Intelligence Capability for mining operators. The broader impact of this research will result in robust data-based rationale for creating new best practices regarding the efficient running and optimisation of mining operations. In short, the research will investigate the potential opportunities arising from companies in the mining industry implementing a digital transformation.
iCRAG will focus its literature review on the following:
the existing metrics and key performance indicators (KPIs) currently in use within a modern mine principally from the geological and processing point of view;
how operational data is managed and utilised in the current context to optimised mining and processing activities;
how existing KPIs will be documented and mapped to roles (or subset of roles) in modern mining operations.
The research review will also involve exploring;
the application of existing frameworks and best practice for developing an operational intelligence capability in the mining and extraction sectors;
the existing capability maturity models and other frameworks for operational and business intelligence;
the application of existing capability maturity models and other frameworks for operational and business intelligence in the mining and extraction sectors.
Ireland’s National Centre for Applied AI and Data Analytics (www.ceadar.ie)
CeADAR is a market-focused technology centre that drives the accelerated research, development, and deployment of AI and data analytics technology and innovation into businesses. The Centre is the bridge between the worlds of applied research in AI and data analytics and their commercial deployment.
CeADAR was awarded the Dunn & Bradstreet prize for Best Analytics Research Group Ireland at the DatSci Awards and in November 2018 it received the European i-Spaces GOLD award from the Big Data Value Association in Brussels. CeADAR is the designated EU AI Digital Innovation Hub in Ireland and is one of only 30 across the EU.
The focus of the Colossus and CeADAR partnership is aimed at understanding how to apply machine learning to a contractual commercial process using game theory for the settlement of value physical commodity contracts. The “game” is the method used to reach an agreement between a buyer and a seller of payable metal in an industrial raw material commodities sales contract, through using predictive analytics, machine learning and artificial intelligence. In short, we want to investigate the use of algorithms to maximize the commercial value of sales contracts.