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.