Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on artificial intelligence solutions. As there is a large number of startups working on a wide variety of solutions, we want to share our insights with you. This time, we are taking a look at 5 promising artificial intelligence startups in mining exploration.
Heat Map: 5 Top Artificial Intelligence Startups
Using our StartUs Insights Platform, covering 1.116.000+ startups & emerging companies, we looked at innovation in the field of mining exploration. For this research, we identified 88 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and technology among others. Depending on your specific criteria, the top picks might look entirely different.
The Global Startup Heat Map below highlights 5 startups & emerging companies developing artificial intelligence solutions for mining exploration. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 88 companies we analyzed for this specific topic.
Earth AI – Exploration Targeting
Mineral exploration involves a considerable workforce for sample collection and exploratory digging. With the advancements in technology, automated drilling rigs eliminate the need for labor and improves productivity. This consequently drives emerging companies to develop automation solutions for improving worker safety in mineral exploration operations.
Australian startup Earth AI develops AI-based mining exploration algorithms. With the assistance of machine learning techniques, the startup identifies mineral deposits in greenfield sites. Besides, drones collect geophysical data which enables autonomous drilling, thus, minimizes the costs of exploration and drilling.
Aganitha Cognitive Solutions – Modelling For Exploration
Identification of potential mineral deposits using traditional methods requires consultation with multiple experts for analyzing geo-data. Further, advancements in AI and machine learning (ML) reduce the workforce requirement for performing complicated data analysis and enable efficient utilization of resources. As a result, mining technology startups develop various AI-based models for improving mineral exploration.
Indian startup Aganitha Cognitive Solutions creates AI-based mining exploration models by combining geological, geographical, and geophysical data. Moreover, machine learning enables the startup to generate mineral deposit leads and enables them to identify potential hot spots for exploration.
Minerva Intelligence – Platform For Mining Exploration
Traditionally, accurately finding mineral deposits usually yields a low rate of success. Technological upgrades and innovations provide access to, and analysis of, historical data. AI and ML drive innovation with analytical algorithms whereas big data assimilates the publicly available data in a consumable format. As a result, organizations work to improve the success rate of accurately pinpointing the location of mineral deposits.
Canadian startup Minerva Intelligence provides an AI platform, TERRA, for mineral exploration. By combining AI, geological models, and exploratory data, the startup enables optimizing exploration efforts by identifying potential mineral deposits. As a result, TERRA reduces operating costs and improves returns on investment (ROI) for mining exploration companies.
OreFox – Systems For Mining Exploration
Advancements in aerial imaging, along with drones, improve surveying, geological prospecting, and in ascertaining drill target areas. These emerging technologies enable startups to develop innovative exploration solutions and minimize risks such as involving a human workforce to access dangerous and unstable terrain.
Australian startup OreFox offers two AI systems, Prospector AI and Hunter AI, for mining exploration. Prospector AI uses deep learning algorithms and compares existing mineral deposit data with the sample. Hunter AI uses these results and further refines the models using machine learning, to obtain an informative visual representation of the target area.
Datarock – Computer Vision
Greenfield exploration involves considerable risk in the form of initial investments in comparison with brownfield exploration. Grassroots exploration, including data on environmental impact, enables mining companies to accurately evaluate the risks and potential impact. As a result, startups develop exploration solutions that factor in the ecological cost of mining operations as well.
Australian startup Datarock utilizes computer vision and deep learning algorithms to assist in mining exploration. The startup’s cloud-based image analysis platform aids in categorizing and segmenting geological imagery and videos. As a result of automation, the geologists get to spend more time interpreting the results rather than working with the data.
What About The Other 83 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence so you can achieve your goals faster. The 5 AI-based mining exploration solutions showcased above are promising examples out of 88 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.