New global research reveals that nearly two in three geoprofessionals are using or considering emerging technologies such as artificial intelligence and machine learning
CHRISTCHURCH, NEW ZEALAND, July 19, 2023 – Seequent, The Bentley Subsurface Company, today announced the findings of its latest Geoprofessionals Data Management Report, which looked at the trends, challenges, and opportunities in subsurface data.
The report found that eight in 10 geoprofessionals in mining saw data management as of high or critical importance for their organisation, and said they spent 27% of their time on data – but a third of respondents said they lacked the information they needed to make crucial data-driven decisions.
Jo Knight, Chief Customer Officer, Seequent, said, “Seequent is committed to helping the mining industry unlock the value from their subsurface data. As datasets become larger and more complex, organisations are turning towards faster, more reliable, and smarter ways to manage and analyse their data. We hope the Geoprofessionals Data Management Report provides some key insights for mining organisations, which they can apply to their business.”
More than 700 geoprofessionals across industries that work in the subsurface responded to the survey, including 296 mining professionals. Other respondents included those from the civil, energy, and environment sectors. The report is the only one of its kind.
Findings across mining and other industries included:
- An increase since 2020 in the use of emerging technologies: 64% of geoprofessionals are using or considering the use of data science scripting, advance analytics, machine learning, or artificial intelligence, with 39% using or considering using more than one of these technologies.
- Views on the future of data management:
- AI and automation will reduce time spent on menial tasks and drive efficiency and accuracy.
- Cloud adoption will enable real-time collaboration and synchronisation across platforms.
- On average 22 people are interacting with their organisation’s subsurface data.
- Despite the high number of people interacting with subsurface data, 65% of organisations do not have an established framework governing data collection, analysis, and safeguarding (the so-called data chain of custody framework).
In mining:
- 61% do not have a data management framework that is viewed as vital, with 53% of the respondents from mining planning to create one within the next three years.
- Only 26% said they were “very ready” to leverage the cloud, with security and cost cited as the main factors.
Rob Ferguson, Segment Director, Exploration and Resource Management at Seequent, commented, “The insights we have gathered provide a fascinating picture of the data challenges facing the mining industry. Clearly, the industry needs to tackle its lack of data-driven decision-making to maximise performance.
“There is some work to do to educate the mining industry about the cloud, as the cloud is a cost-effective and secure solution that can help mining organisations transform their data management and collaboration. The adoption of emerging technologies will also be really important for the future of the industry.’’
The Geoprofessionals Data Management Report is in its sixth edition. Field work was undertaken in May 2023, with a total of 704 responses. The highest response rate was from the Americas, and the mining industry made up 42% of respondents overall.
Read Seequent’s Geoprofessionals Data Management Report Sixth Edition
Images: Captioned graphs from the report are available for use here: Dropbox
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