The AI Eye: Windfall Geotek Announces EagleEye Drone for AI-Driven Mining Exploration and Datametrex AI Working with US Gov’t on COVID-19
Point Roberts, WA and Vancouver, BC - March 30, 2020 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.
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The AI Eye: Windfall Geotek Announces EagleEye Drone for AI-Driven Mining Exploration and Datametrex AI Working with US Gov't on COVID-19
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (TSXV:WIN) (TSXV:DM)
Windfall Geotek Inc. (TSXV:WIN) has announced the launch of EagleEye, described as "a drone-based solution for AI-driven digital exploration in mining." The company plans to partner "with operators of leading surveying companies to obtain geophysical data and generate potential drill targets using drones, modified sensors, and the CARDS (Computer Aided Resources Detection System) AI software system." Michael Fontaine, President and CEO of Windfall Geotek, commented:
"Our new services have allowed us to bring to market the survey, sensor, and AI-driven software for digital exploration. Our ability, in the mining sector, to find targets is directly tied to the quality of the source data we receive from our customers. EagleEye will allow us to work more closely with our customers, generating a better return for their investors with our CARDS AI-generated targets.
"We are thrilled to be working with the US Government on this very important issue. We recently completed work for Democracy Labs on #disinformation in social media regarding #covid19 and #coronavirus and secured a relationship with Carnegie Mellon University IDeaS. Both announcements assisted in getting Nexalogy in front of the Government Agencies for this current opportunity in the United States. The solid foundation we have built over the past years with our Canadian Government clients like DRDC, the Canadian Military and NATO have positioned Datametrex to be able to provide military grade solutions for today's social media challenges."
Global AI in Manufacturing Market to Reach $27 Billion by 2027
A report from Meticulous Research finds that the global AI in Manufacturing market is expected to reach $27 billion by 2027 with a compound annual growth rate (CAGR) of 39.7 percent in the forecast period. An excerpt from the report description outlines the heavy metals and machine segment of the market:
Based on industry vertical, the automotive sector commanded the largest share of the overall AI in manufacturing market in 2019. However, the heavy metals & machine manufacturing sector is projected to grow with the fastest CAGR during the forecast period. In order to remain competitive, attract new talent, and retain knowledge from an aging workforce, the metal and material manufacturing companies are increasingly adopting smart technologies like Artificial Intelligence (AI). The factors such as growing need to optimize the production line, reduce unplanned downtime, improve operational productivity, reduce cost, and create synergies across the facility fuels the adoption of AI in metal and materials manufacturing sector. Moreover, the core focus of AI in metals is managing continuous production processes to ensure equipment reliability and consistency. This means using AI in areas like tracking, predicting and managing quality, and eliminating variability by learning from historical data.
Sam Mowers, Investorideas.com
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