Old School Industries Utilizing New School Tech; AI and Resource
Industries Connect: (TSXV: $MCLD.V) (OTC: $SBGSY) (TSX: $STLC.TO) (TSXV:
$AIIM.V)
Point Roberts, WA and Vancouver, BC - April 5, 2019
(Investorideas.com Newswire) Investorideas.com, a global investor news source
covering Artificial Intelligence issues a sector snapshot, looking at how new
developments in AI, IoT and the digital tech sector are now being deployed in
seemingly "old-school" industries such as oil and gas and mining.
As
technology progresses forward at a break-neck pace, older and more established
industry sectors such as oil and gas, or mining and manufacturing are beginning
to realize that utilizing these new technologies is the only way to embrace the
future. BI Intelligence predicts that
global manufacturers will invest $70 Billion on IoT solutions in 2020, up from
$29 Billion spent in 2015.
Universal mCloud
Corp.
(TSX-V:
MCLD)
(OTCQB: MCLDF), a leading
provider of asset management solutions combining IoT, cloud computing,
artificial intelligence and analytics, recently unveiled its plans to connect
oil and gas field workers with real-time access to digital work assistance
capabilities using the Company’s AssetCare platform delivered via head-worn,
hands-free smart glasses.
Read this in full
at https://www.investorideas.com/news/2019/artificial-intelligence/04052AIEye-ResourceIndustries.asp
Originally
developed to support field workers and maintainers in mCloud’s Smart Buildings
and Wind segments, the Company expects to deliver similar capabilities within
its recently announced entry into Oil and Gas through its newly-signed
three-year global licensing agreement for AssetCare solutions with Fulcrum
Automation Technologies (“Fulcrum”). In the oil and gas industry, mCloud
estimates there are over 1.4 million field workers operating over 500,000
assets across North America whose roles would benefit from the enhanced
productivity and efficiency that would come with hands-free access to AssetCare
in the field.
Delivered
on smart glasses, mCloud’s AssetCare platform enables workers in the field to
get access to the right information at the right time combining the features of
an AI-powered digital assistant with advanced 3D and mixed reality. Real-time
digital work instructions enable workers to get guidance and verification as
they work through complex procedures, ensuring they get jobs done right the
first time. Smart work order management capabilities ensure workers focus on
those field assets in most urgent need of attention.
In
addition, remote assistance, provided through mCloud’s strategic arrangement
with Agnity Global enables workers in the field to virtually collaborate with
experts in the corporate back-office through a secure, enterprise-grade video
and audio link.
“Our
ability to deliver AssetCare on hands-free smart glasses lets us dramatically
improve the productivity and efficiency of field workers everywhere,” said Dr.
Barry Po, mCloud’s Chief Product Officer. “All across the oil and gas value
chain, there are opportunities for us to enhance the way decisions are made in
the field.”
Schneider Electric
S.E.
(OTC:
SBGSY),
a leader of digital transformation in energy management and automation, has
recently announced the launch of Schneider
Electric Exchange, the
world's first cross-industry open ecosystem dedicated to solving real-world
sustainability and efficiency challenges.
"Digitization
continues to revolutionize the way we work and behave. The world can no longer
work in independent silos; the need for better integration and collaboration
has unearthed new opportunities and solutions. Schneider Electric Exchange
brings together a diverse ecosystem of digital innovators and experts, enabling
the co-creation of solutions and enriching learning and speed through
collective intelligence. Together this digital ecosystem creates, collaborates,
and scales business growth," says Cyril Perducat, EVP IoT & Digital
Offers, Schneider Electric.
Stelco Holdings Inc. (TSX:
STLC)
(OTC; STZHF), the owners of
North America's newest and most technologically advanced integrated steelmaking
facilities recently
announced
signing an agreement with Canvass Analytics Inc., a global leader in AI
software for intelligent industrial operations to use Canvass's AI platform to
transform its steel operations, improve yield and boost productivity.
Alan
Kestenbaum, Executive Chairman of Stelco Inc. commented: "As a company
that strives to deliver the market's highest quality products in a cost competitive
manner, we are continuously looking at how we can operate better. By partnering
with Canvass Analytics, we are systematically transforming our facilities into
intelligent operations environments and augmenting a digitally oriented
workforce in order to take the efficiency of our operations to the next level.
Canvass Analytics quickly demonstrated to us the usefulness of AI in certain
areas of our operations and the potential of applying AI across our operations
in order to increase our profitability and competitiveness."
In
the mining sector, Albert Mining Inc. (TSX-V: AIIM), using Artificial
Intelligence (AI) and advanced knowledge-extraction techniques since 2005 announced on March 28th
that its technology will be used on Playfair Mining Ltd.’s RKV property
(Tynset, Hedmark County area, 295.96 square kilometres), located in Southern
Norway, 350 km North of Oslo. A fee will be paid to Albert for applying its
CARDS (Computer Aided Resources Detection Software) system using AI and
Datamining on the RKV property.
Albert
Mining says its objective is to develop a new royalty stream by significantly
enhancing and participating in the exploration success rate of mining.
AI
is changing the future of the resource sector from agriculture to energy and
mining but it also impacts almost all sectors as innovation and demand for
efficiency become key ingredients for success.
In Canada and the US, the resource sector is a key contributor the
economy, so the old must meet the new or face meeting the fate of the
dinosaurs.
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