Codelco, Microsoft sign AI deal for mining operations

SANTIAGO, March 5 (Reuters) - ‌Chile's state-owned ​Codelco, ​the world's largest copper producer, and Microsoft signed a memorandum of understanding ‌to evaluate joint initiatives in artificial intelligence, ⁠advanced analytics, automation and digital security, the miner ‌said on Thursday.

KEY CONTEXT

• ‌The agreement will run for 18 months initially with joint governance for strategic and ​operational tracking.

• Areas include intensive data use, AI for decision-making, autonomous operations, automation of ⁠critical processes and cybersecurity strengthening.

• The partnership envisions both companies ​participating in early testing of new solutions and the sharing international experiences.

KEY QUOTES

• "Working ​with a world-class technological ‌leader like Microsoft consolidates our leadership in the future of mining. Faced ⁠with an accelerated digital transformation, we have to process and consider large volumes of operational data," ⁠said Codelco CEO Ruben Alvarado.

• "This alliance with Codelco reflects ​the potential that artificial intelligence represents to advance development in the mining sector and Chilean market, facilitating ‌safer, more efficient and sustainable operations with a focus on people, productivity ‌and long-term value for the company and ⁠country," said Tito Arciniega, ‌president of ​Microsoft Latin America.

(Reporting by Fabian Cambero; Writing by Kylie Madry; Editing by Alexander ‌Villegas)

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