Extract of interview published by AUSTMINE
In 21st century business, miners are trying to reduce the strategic risk in their business. What do you see as the biggest challenges facing the mining industry and how will market facing AI assist executives to de-risk their businesses?
For miners, the problem they face is the impact on their share price when a crisis hits or unexpected bad news is reported to the market (e.g. a death on site, a tailings dam disaster). Another challenge is managing the expectations of the market when a site extension or new project is delayed due to a failure to obtain a social license.
AI enhances the strategic PR and communications team’s ability to understand the entire market landscape. Within a day using our robust framework and tools, a team can identify the most important stories, their sources in the mainstream or social media, the power of the content and predict which stories will continue to be significant and which will fade away.
Using these insights, the team can navigate their course through the dark and dangerous waters of a major reputational issue. They can also measure their progress on a daily, weekly basis, enabling teams to evaluate their strategies, and pivot as required. This reduces stress in an often volatile situation, enables strategy to be developed and executed and focuses the communications effort on messages which are proven to work.
From the work we have done we have discovered that as much as 93% of all spending for content has little or no engagement. That’s a lot of wasted communications budgets!
We can also assist miners to “walk in the shoes” of the community and sense a community’s emotional reaction to a project based on all available content online. This is key as was recently articulated by the Rio Tinto CEO on ABC Radio (March 21) where he said “there is a lack of trust and a lot of anxiety within the community” and “our license to operate is challenged”. ”People need to be convinced that we have a purpose”. He went onto say that Business-2-People is a key strategy in successfully connecting with communities.
That is what our tool set and methodologies enables miners to do.
To read the entire interview go to AUSTMINE
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