The mining industry, often viewed as a traditional and risky endeavor, is poised for a significant shift thanks to artificial intelligence. A daring startup is reinventing geological exploration with cutting-edge algorithms, supported by tech founders like Bill Gates and Jeff Bezos.
KoBold Metals, the startup in question, has raised a substantial $537 million to fundamentally transform mining exploration. Its goal is to harness the power of machine learning to analyze vast amounts of geological data and locate major deposits of copper and other strategic metals worldwide. The aim is to make exploration more reliable and drastically reduce the usual risks in the sector, where only three out of a thousand projects come to fruition.
While many companies struggle to implement AI due to a lack of qualified teams and high costs, KoBold Metals demonstrates that when executed well, AI can revolutionize a traditional sector. The increasing availability of new GPUs and growing data volumes make deep learning more accessible, potentially paving the way for eco-friendly mining practices.
