Azincourt Energy, a Canadian-based company specializing in the exploration and development of uranium, announced this Friday it has partnered with FOBI AI Inc. The partnership will allow Azincourt to use artificial intelligence and data analytics to drive operational efficiencies and enhanced profitability.
Firstly, FOBI AI Inc. is a global leader and provider of artificial intelligence solutions. It also provides real-time data analytics. Under the terms of the agreement, FOBI will assist Azincourt in developing an operational intelligence platform.
Such a platform will help transform legacy and, in some cases, antiquated but commonly used practices in the mining and exploration sector. Consequently, FOBI will use AI applications and data mining techniques to analyze vast amounts of aggregated data.
Moreover, it will detect patterns and consistencies that may not be readily apparent otherwise. This would provide more efficient road maps for the company. It will generate more impactful drill holes in less time and with less cost.
In addition, the agreement between the parties is a 1-year $250,000 contract. The intent of it all is to allow Azincourt to benefit from FOBI’s experience developing and deploying real-time applications; and operational solutions across various data applications at scale. While FOBI will architect and deploy it’s established AI and operational applications.
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Azincourt and FOBI alliance, a powerful combination
After such a synergy, Azincourt would be able to better, and also more quickly discover resources at its East Preston uranium project. Furthermore, Azincourt’s CEO, Alex Klenman, said. “I think it’s incumbent upon us to explore new exploration techniques that can help guide us towards significant discoveries.”
He also remarked. “Artificial Intelligence, machine learning algorithms, and rapid big data analysis clearly have a place in our future and we’re eager to apply these new techniques to uranium exploration. There are multiple applications we can utilize here, and I’m excited to begin working with FOBI and their innovative team.”
On the other hand, Rob Anson, CEO of FOBI said. “I see the exploration and mining sector as a very lucrative opportunity for FOBI. This agreement with Azincourt will allow FOBI to demonstrate the power of our real-time operational data applications and real-time analytics and insights.”
Finally, he commented. “The powerful combination of FOBI’s artificial intelligence and real-time big data applications will be key to enabling Azincourt to make faster, smarter, data-driven decisions which ultimate will be key to driving further success in regard to the Company’s operational efficiencies and performance.”
