Daily Newsletter

11 August 2023

Daily Newsletter

11 August 2023

US Steel announces AI collaboration with Google Cloud

The steel producer is aiming to build applications using Google Cloud’s generative artificial intelligence technology.

Claire Jenns August 10 2023

The initial phase of the launch will begin in September. Credit: Vladimir Mulder via Shutterstock.

US Steel is set to use Google Cloud’s generative AI technology with the aim of driving efficiencies and improving employee experiences in the largest iron ore mine in North America.

The first gen AI-driven application that US Steel will launch is called MineMind which targets equipment maintenance by providing solutions for mechanical problems.

Underpinned by Google Cloud’s AI technology like Document AI and Vertex AI, MineMind is expected to improve the maintenance team’s experience by providing information more easily and save costs from more efficient use of technicians' time and better maintained trucks.

When fully operational, MineMind will reportedly allow a US Steel technician to reduce the amount of time to complete a work order by an estimated 20%.

The initial phase of the launch will begin in September and will impact more than 60 haul trucks at US Steel’s Minnesota Ore Operations facilities, Minntac and Keetac.

US Steel president and CEO David Burritt commented: “We’ve meaningfully accelerated digitisation through our work with Google Cloud. Faster repair times and less down time are only some of the many benefits we expect with generative AI.”

Google Cloud vice president for North America Michael Clark added: “Our work with US Steel on generative AI technology has the potential to not only transform manufacturing but adjacent industries – from trends and logistics, to supply chain, sustainability, process automation, and more.”

The two companies will seek to continue to expand the relationship to solve high-impact areas across the US Steel value chain.

The cumulative revenue generation opportunities for generative AI providers such as Google Cloud is estimated to be US$65.04bn between 2022 to 2027.

Generative AI remains an untapped potential across the consumer industry

GlobalData estimates the total AI market will be worth $909 billion in 2030, growing at a CAGR of 35.2% between 2022 and 2030. The consumer goods, foodservice, and packaging sectors are undergoing digital transformation, accelerated by the COVID-19 pandemic and changing consumer preferences. AI can help companies operating in these sectors by significantly reducing costs and production times. In Nestlé's 2022 full-year results, the company announced a renewed focus on digitalization to drive growth. Financial and reputational pressures associated with supply chain disruptions and sustainability concerns are also driving interest in the digitalization of supply chains. Data science and ML are strong investments across all areas. However, the sectors cannot stop at AI-powered data analytics applications. They must also explore computer vision (CV), smart robots, AI sensors that automate manufacturing and distribution logistics, and generative AI tools that increase efficiency across corporate departments and customer service operations and enable innovation in product design. For the most part, the consumer goods, foodservice, and packaging sectors will not play a significant role in creating and developing AI hardware or platforms. Instead, these sectors will help scale up the adoption of AI technologies, such as CV, conversational platforms, and smart robots. This adoption will be driven by the financial benefits and potential cost savings AI automation delivers across global supply chains.

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