EY’s global report ‘The digital disconnect: problem or pathway?’ points out that digital advances in mining are out of sync with the scale of opportunity for many companies. The gap between the potential from digital transformation and the poor track record of successful implementations exists because of a range of practical issues that challenge the industry.
Following are some of the common pitfalls that are driving the digital disconnect in mining, per EY’s report:
1. Perception of high costs
Adopting a new digital operating model requires investment in technology, usually causing concerns about the value of the investment.
2. Lack of digital education and understanding
A low level of digital awareness and lack of understanding of the potential opportunities derived from digital often results in fear and aversion to change.
3. Lack of detail on the implementation pathway
While stakeholders are in agreement on the digital vision, there is little discussion and detail around a practical and effective implementation pathway from the current state to this vision.
4. Poorly defined business model and business case
The lack of detail or an ill-defined business case leads to skepticism among leadership in commencing digital initiatives.
5. Unclear accountability and siloed approach
Due to a siloed approach to productivity in mining, digital solutions are adopted as point solutions in the value chain, rather than as a holistic approach.
6. Quality of data
Gaps in data quality, issues in gaining access to required information and lack of maturity in current data systems are obstacles to digital transformation.
7. Existing systems and processes not being optimized
Before implementing new approaches, mining leaders must understand the existing digital footprint and find ways to leverage digital investments made.
To overcome the digital disconnect in mining and seize the opportunities of a digital revolution, the approach taken for digital transformation is crucial. Having a clear vision and understanding of the implementation pathway is critical for a successful digital journey.
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