Globe says Barrick boss embraces technological future
Barrick Gold Corp (C:ABX)
Shares Issued 1,165,331,319
Last Close 9/16/2016 $22.88
Monday September 19 2016 - In the News
Shares Issued 1,165,331,319
Last Close 9/16/2016 $22.88
Monday September 19 2016 - In the News
The Globe and Mail reports in its Monday edition that mining lags other industries in one critical aspect: digital innovation. Guest columnists John Chambers and John Thornton write that shortcoming significantly threatens the industry's ability to meet future demands and survive in the digital age. Companies that fail to embrace the digitization trend will not survive. Mining needs to reinvent itself. The only way companies will cut costs and increase efficiency will be to embed digital technologies in every dimension of how mines are operated and managed. This transformation will require technology companies and the mining industry to partner together in new ways. Last week, Cisco and Barrick Gold agreed to reinvent Barrick's business. Over the course of the partnership, Barrick and Cisco will bring digital capabilities to Barrick's entire organization, from its mines around the world to Barrick's head office in Toronto. For instance, advanced sensing technology and real-time operational data will improve decision making. Equipment will be automated for increased productivity and worker safety. Predictive algorithms will enhance the precision and speed of maintenance and metallurgy.
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