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Mining and Metals
Article

Mining and Metals

Digital Transformation and the Industry’s ‘New Normal’

World Economic Forum
World Economic Forum, 2019
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Editorial Rating

7

Qualities

  • Analytical
  • Overview
  • For Experts

Recommendation

The mining and metals sector is experiencing macroeconomic and digital upheavals, explains this World Economic Forum article, and firms must be quick to understand and adapt to the changes. The report gives an overview of a shifting industry landscape – as well as a blueprint for evolving from a “digital laggard” into a “digital first mover.” 

Summary

The mining and metals industry is adjusting to a new reality of “massive excess capacity.” Global demand is sluggish, prices have slumped, the workforce lacks needed skills, and customers are adding new pressures. Moreover, nationalist policies are reshaping access to resources, and trade wars are disrupting value chains. Getting to minerals – especially high-quality minerals – has grown challenging. Alongside these forces, digitalization is rapidly transforming the industry. Through the 2020s, many tasks will become automated. Sensors, robots and 3D printing will factor prominently, and the industry will need to buffer significant job loss – about...

About the Author

The World Economic Forum is an international nonprofit working to address global and regional issues.

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