Dig Deep From Downtime to Uptime: How DataMind AI is Transforming the Mining Industry
In this episode, we chat with Michael Zolotov, co-founder and CTO of Razor Labs, who are a leading mining technology provider that delivers advanced predictive maintenance with its flagship product, DataMind AI™️. Razor Labs’ AI Sensor Fusion technology provides real-time condition monitoring, root cause analysis, and prescriptive actions to prevent failures before they happen.
Michael’s a serial entrepreneur, an expert in AI, radar, and advanced analytics. He’s built and led companies through IPOs and acquisitions, and helped scale Razor Labs globally. Most importantly, he pioneered AI Sensor fusion in mining and he’s on the podcast today to discuss Razor Labs’ origins, how DataMind AI uses Sensor Fusion to cut costly mining downtime through real-time monitoring, examples of fast ROI, its impact on maintenance practices, the transition to trusted AI systems, and future directions for AI in mining.
KEY TAKEAWAYS
-
Unplanned downtime in mining can lead to significant financial losses, often amounting to hundreds of thousands of dollars per failure.
-
The use of sensor fusion, akin to how doctors diagnose illnesses using multiple data sources, allows DataMind AI to identify failures that traditional sensors might miss.
-
Clients have reported rapid returns on investment, with some achieving full payback within three months of implementing DataMind AI. This is largely due to the prevention of costly failures and reduced maintenance expenses.
-
The transition to AI-driven systems in mining requires building trust among teams. DataMind AI provides evidence-based diagnostics, allowing maintenance teams to understand the rationale behind recommendations
BEST MOMENTS
"We identified the mining sector as a very high potential for AI disruption... essentially like an automated doctor for machines."
"The uniqueness here is that it was a bootstrap company, and we actually reinvested the profits into the R&D of that product."
"Traditional AI systems are black box... you cannot trust the model."
"By monitoring continuously, you make sure that no matter whether it's deteriorating over three weeks or two weeks, you will be able to capture it."
VALUABLE RESOURCES
Mail: rob@mining-international.org
LinkedIn: https://www.linkedin.com/in/rob-tyson-3a26a68/
X: https://twitter.com/MiningRobTyson
YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast
Web: http://www.mining-international.org
GUEST SOCIALS
Website: https://www.razor-labs.com
LinkedIn: https://www.linkedin.com/company/razor-technologies-inc/
YouTube: https://www.youtube.com/@RazorLabsAI
CONTACT METHOD
https://www.linkedin.com/in/rob-tyson-3a26a68/
Podcast Description
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.
This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/