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Demand for metals, minerals, and other resources is increasing, driven by forces such as the energy transition, an increase in electric vehicles and rechargeable batteries, and even the growing infrastructure required to support advances in AI and automation. In fact, UN Trade and Development( UNCTAD) projections based on data from the International Energy Agency suggest that by 2050, lithium demand could rise by over 1,500 %, with similar increases for nickel, cobalt and copper 1.

Meeting increased demand while controlling costs requires organizations to increase productivity and yield more from their existing assets.

To do this effectively necessitates a shift towards real time data-driven asset management where organizations can anticipate outcomes, evaluate scenarios, and choose actions strategically to reduce risk and failure and optimize process and productivity.

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1

“ Critical minerals boom: Global energy shift brings opportunities and risks for developing countries”, UN Trade and Development, April 2024