This is the slide deck as presented by Unearthed's Chris Schmid during the recent Demo Day 2016 in Perth. During the event startups relevant to the resources industry showcased their products and tech and notable keynote speakers such as Hon Bill Marmion, Minister for State Development Western Australia and Daniel Faber, CEO of Deep Space Industries.
5. Past
Success came from better information
Only experts had access
Protect information
Now
Information is abundant, ability to process is bottle
Diversity and breadth of ideas wins
Open Information up to extract value
What’s changed?
6. Less credible, not experts
Collective insights
Risky, Unknown
Immediate feedback loop
Difficult to collaborate
Technology enabled
7. Mining was leading the way
In 2000, GoldCorp opened up all geological data
$575,000 CAD won by Fractal Graphics in West Perth
Over 110 targets ($6bn) identified, 50% unknown
GoldCorp now top 5 gold producer
8. Ore-X Challenge with GoldFields
Automatically classify underground
rock face into high, medium, low
grade and waste
$10,000 for 1st Prize, one month
12. Ore-X Results
Algorithm with 80% accuracy in seconds
Removes subjective bias
270 Participants
Winner: Brian Lynch, Canada
Payback in less than two month
13. Phase-X Challenge with BHP Billiton
Create the best algorithm for open pit
mining phases based on block model
data
Open and hidden data sets
$50,000 prize money & $10,000 travel prize
Six month competition
Support forum and webinar sessions
16. Participation across the globe
284 Sign Ups
53 Cities from 6 Continents
Participants from ETH Zurich,
University of Southampton,
University of KU Leuven, Colorado
School of Mines and many more
17. And the first prize goes to …
Alan Bye, VP Technology BHP Billiton & Thomas Li
Thomas Li
PhD in Applied Mathematics
Australian National University Canberra
“Optimising open pit mining phases using
multi grid search”
$35,000 for winning algorithm
18. When do online challenges work?
Data driven challenges
When you know what you are looking for,
and want the best
When you want to connect with talent globally
Think of what the rebels did to the death star when they had the plans!
What if you had opened the Death Star plan up to the public and asked for insights. Maybe someone would have picked up on an open shaft to a highly fragile power source.
Access to information isn’t the bottle neck anymore, the speed of processing and adoption is.
Amount of information is doubling every 12 month, and accelerating
Change of thinking: protecting information to retain value, to open information to extract value
After visiting MIT and hearing a talk on open source linux development
Term Crowd Sourcing has only been coined in 2006
Forum, visualization Tool, Feasibility tester
Resubmit multiple times
2x Southampton, UK; Canberra, AUS; Melbourne, AUS;