As the economy of pure energy spreads, finding minerals and metals that become more critical. The answer could lie with artificial intelligence.
Electric cars, solar panels and hydrogen fuel cells have one common thing: the need for noble metals.
Historically, it is necessary to go through a busy process of finding a metal and then pulling them out of the ground. But new technologies from a series of companies may change the game.
Kobold Metals, Verai and Startup called Earth AI race are that my metals on the market as soon as possible. AI land combines software to detect minerals with AI drive with drilling technology. Its data date back to 50 years.
“We train our Ai to learn from the failure and success of the decades of hundreds of geologists who have explored in the past to make much better predictions where to look for metals in the future,” said Roman Teslyuk, Executive Director of Earth AI.
When the system determines what he thinks are metal deposits, the land of Ai can be drilled to check it in just a tennis ball hole. Teslyuk said that using this mining process requires half the cost and a fraction of the time that was previously needed. Individual annual revenues of mines can range from $ 50 to $ 3 billion, according to mining data online.
“We drill up to 2,000 feet and grab a rock pattern that has never seen light, and metals in that rock can build hundreds of millions of electric cars,” Teslyuk said. “They can turn our renewable network. This rock can take us off the hydrocarbon.”
The land of AI does not explore around existing mines, but finds new areas, and then sells this information to mining companies.
“The market of these minerals is enormous,” said Jamie Lee, a management partner at Tamarak Global, an investor at Earth AI. “The way they approached it really attracted our attention because there is a significant ditch in their business model and the way they trained their big linguistic model.”
Other investors include Y Combinator, Cantos Ventures, Scrum Ventures, Alpaca, Sparkwave Capital and Overmatch. The company has raised a total of $ 38 million.
The land of AI is exploring alone, as is partners to find deposits faster. The company recently discovered one of the largest checked Paladi deposits in Australia using AI as part of a common investment with inherited minerals.
CNBC producer Lisa Rizzolo contributed to this piece.
