Central regions | Materials, extraction | Finance, business

VCs support artificial intelligence in ore mining

27 Nov '19
A Russian venture fund called Gagarin Capital and Y Combinator, the famous U.S.-based accelerator, jointly invested $2.5m earlier this year in Ukrainian technology that brings artificial intelligence into the business of minerals exploration and extraction.

Set up in 2016 by Ukrainian nationals, the start-up Earth AI makes it possible to prognosticate new mineral deposits “much faster, more accurately, and at less costs” than with the current conventional techniques, claimed Roman Teslyuk, one of the cofounders of the start-up. The new funding round was expected to help the Ukrainian company fine-tune the already working technology and step up the effectiveness of search for minerals.

Earth AI’s approach is based on the analysis of big data that comes from remote sounding, radiometry, and a range of geophysical and geochemical indicators. The neural network enhanced system analyzes this information and applies probabilistic methods to predicting possible industrial-scale deposits of various metals, from gold, copper and lead to rare earths and transitions. All that is said to enable Earth AI to find spots and do test drilling on new mining fields with what appears to be an unrivaled saving of time and costs.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
 

Feature stories

23 Jul '20
21 May '20
Russian and Italian researchers have developed a...
5 Apr '20
To extend the service life of medical fabric masks—an...
Search (News archive - 22208)

World of the Future, World of AI

Dsight Webinar
Luc Jones: A Guide to Doing Business in Russia and the CIS Countries
Marchmont Tech Solutions_ENG
Advertising
Why Russians Don't Smile
Advertising
NATT
Advertising
Marchmont News

Latest News

21 Sep '20
K-Sky, an IT developer from northwestern Russia, is...
15 Sep '20
Russian researchers have come up with a new Si...
14 Sep '20
Researchers at ITMO University earlier this year...

Most read stories from last week

21 Sep '20
K-Sky, an IT developer from northwestern Russia, is...
22 Sep '20
A resident of the Zhigulevskaya Dolina technopark,...
20 Sep '20
The Additive Engineering company, which opened...