Lack of technical talent hinders mining innovation

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Technology is advancing at a dizzying pace, including artificial intelligence (AI), blockchain, the Metaverse, and self-driving cars. The list goes on. Sometimes it's just impossible to keep track of new developments, and it doesn't help that every month a hoodie-wearing startup founder proclaims from an office full of ping pong tables that he's developing the next big thing. .

It's certainly difficult to parse out what's important from all the noise coming from the tech elite. But the benefits of new technology are likely to be significant, so that shouldn't stop miners from trying. In fact, McKinsey & Company estimates that AI alone could represent up to US$390 billion in annual savings for natural resource producers by 2035, and the market for AI services in mining is expected to grow by US$240 million this year. It is predicted to be valuable. Just five years ago it was just US$76 million.

So, in an industry that has yet to take full advantage of technology, it is no surprise that EY’s 2024 Mining Leaders Survey names digital and innovation as both key risks and opportunities for the industry. It's a risk for those who don't get it right, and an opportunity for those who get it right.

The promise of automation, improved safety and more efficient operations are big enough carrots to spur investment in innovation in the mining industry. In fact, according to a recent survey by PWC, 49% of mining CEOs say digitization and automation are part of their company's long-term strategy.

So what is stopping mining leaders from making the most of technology? Well, the road to technology adoption is littered with stones and stones (the kind miners prefer). (not). High implementation costs, systemic resistance to change, and a sheer lack of understanding all prevent even the most forward-thinking mining leaders from implementing new technology. But in an industry plagued by labor issues, perhaps one of the biggest obstacles to mining's digital revolution lies at its core (and I'm not kidding): a lack of talent.

Miners lack technical talent from top management to mine sites

Organizations rely on leaders who understand and champion the adoption of new technology. Unfortunately, only 18% of senior leaders in the global mining industry come from a digital background, according to research by Egon Zehnder. Companies are only 28% of him.

It is no wonder that many mining companies struggle to implement new technologies when their top management teams lack technical understanding. One way mining companies consider to overcome these challenges is by bringing in experts from outside the industry and introducing leadership positions to ensure technology strategy is aligned with the broader vision of the organization. That's it. As a result, the roles of chief information officer and chief technology officer, leadership positions that ensure executives stay on top of technology developments, are becoming increasingly prevalent.

Top-down leadership is important to drive big ideas, but many miners are also skeptical about whether the current talent pool is ready to tackle major technological change. Given that the workforce is rapidly aging (20% of Canadian mining professionals are over the age of 55), there are concerns that the mining workforce will resist change. .

The mining industry faces a severe talent shortage, with 71% of mining leaders saying it is preventing them from achieving their strategic goals. Many mine operators are turning to automation to address labor shortages, but adding additional technology requirements to an already strained workforce will exacerbate talent problems that won't go away anytime soon. Some people worry that it will only make them more vulnerable.

To combat this, mining HR leaders should consider increasing the technical talent pool in two ways. It is about developing and attracting technical talent.

Upskilling should be a key element of any technology transformation as it tends to be less costly and allows mining expertise to be retained and enhanced within the organization rather than being lost completely.

When hiring tech-savvy talent, you need to rethink your attraction strategy. During the interview process, HR leaders should focus on getting candidates into discussions with the tech team as soon as possible, as tech talent typically prefers to talk to like-minded people.

Speed ​​is also a factor in the interview process. In a digital world where everything is on-demand, technology job seekers want to move quickly. In fact, 57% of technology job seekers are dissatisfied with the wait time during the interview process, and 35% are unwilling to wait more than a week for a response after an interview. To attract technology talent, it's important to move quickly through the hiring process.

Finally, mining leaders need to be realistic about what new technology and digitalization mean for their employees. Although some mine operators may believe that automation will solve staffing problems, mine operators often view automation as a change in labor requirements rather than as a complete removal of labor requirements. need to think.

For example, Nutrien recently introduced a remote mining program. The program didn't eliminate any jobs, but instead moved operators away from their physical locations and into more comfortable control rooms.

The total number of employees in a mine may be reduced, but more digitized equipment and software will need to be employed to operate them. This means that miners have to compete for talent not only with each other, but also with the tech giants. Instead of worrying about how to get people in and out of mines, mining leaders may need to fight soaring bean bag prices in their technology hubs.

The future of technology and its impact on mining talent is not all negative. As the mining industry embraces new technology, miners have an opportunity to rebrand themselves as a more advanced industry – one where the most innovative young people want to work. As one mining expert said: “Young people don't want to work in the mines,” they want to work at Google. As miners embrace technology, perhaps the next generation of miners can do it both ways: using cutting-edge technology while contributing to one of the nation's most important industries. Sho.

Danny Parys is a senior consultant at Calross Consulting.

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