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Unearthed Demo Day - Why and how Crowdsourcing works for Resources Companies
- 2. Chris Schmid Account Manager, Unearthed
- 3. WHY?
- 4. Less credible, not experts Risky, Unknown Difficult to collaborate
- 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
- 10. Ore-X Challenge
- 11. Ore-X Challenge
- 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
- 14. Phase-X Challenge with BHP Billiton
- 15. Inputs and Constraints Maximum mining rate Process plant capacity Annual discount rate Benchmark NPV Maximum Slope Angle Phase Design Constraints 1 1 1 1 11 11 1 2 2 2 1 1 1 1 11 11 1 2 2 2 x 1 2 2 1 11 11 2 2 2 1 x
- 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
- 19. Thank you Up Next Panel Discussion: Resourcing Future
Editor's Notes
- 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;