There is no denying the fact that technology is sweeping across every sphere of human engagement. Even more so, is the rise of Artificial Intelligence (AI). The introduction of AI is helping the diamond industry think of new ways to simplify production whilst maintaining ethical standards.
Unlike some industries, the diamond industry has so far embraced AI through its inclusion in the diamond production process. This production process covers the mining and grading of diamonds.
The acceptance of AI technology has allowed for more sophistication. Processes like diamond grading can now be automated. Machines can now carry out instructions with minimal or no supervision.
Listed below are ways through which AI is changing the diamond Industry.
1. AI and Its Impact on Diamond Grading
Diamonds are a fascination for many people. When it comes to the subject of wedding day diamonds and engagement rings, the diamond shape is the first thing that comes to mind. However, there are some processes that contribute to the diamond’s shape. These processes involve the diamond cut and grade.
Diamond grading involves the inspection of individual diamonds to ascertain their quality. These qualities are based on the four C’s which include:
- Carat weight
For many years, grading has been a manual task, with many disadvantages. But, with the AI grading systems, we have seen massive efficiency improvements.
The AI technology comes with a machine-learning integration that allows it to learn the ways of a human grader. Upon learning, the AI can interpret the human function with greater consistency and accuracy. It also trumps humans in working without getting fatigued.
Additionally, AI-based grading supports the ability to grade at the source – the location where the diamonds were taken. This speed eliminates the need for transporting diamonds from one place to another.
The three ways in which AI-based diamond grading is affecting diamond manufacturing are as follows:
- Reduction in time consumption and cost of production
Diamond manufacturers usually send polished diamonds to gem laboratories for grading.
This process involves trips to gem labs for grading analysis many times. This process lengthens production costs and time spent.
However, the introduction of AI-based grading has helped manufacturers reduce the stress involved in optimizing diamond grades. It has saved time and cost.
- It allows for the best inventory
Inventory is the finished goods — any type of diamond. These can be lab-grown diamonds or natural diamonds.
- Diamond stud earrings
- Tennis bracelets
- Wedding rings
- Diamond wedding band
- Wedding sets, etc
Quality inventory helps the manufacturers earn good profits. The AI grading allows for qualitative output to the market.
- Better market suitability
AI-based grading can achieve high-end accuracy during the manufacturing stages. It allows for the creation of diamond jewelry that meets market needs.
These creations allow better suitability as opposed to just distributing to the market after production.
The flexibility of AI-based grading systems allows the diamond pipeline to be optimized. In other words, it can adapt the production process to meet customer demands in real-time.
2. AI and What It Does for Diamond Mining
Another growing importance of AI to diamond production concerns the mining sites. AI has contributed a lot to the automation of the mining process.
In mining, there is a term known as the ‘diamond pipeline’. A diamond pipeline refers to the manufacturing procedures involved in producing diamonds. These are the channels through which production is passed from start to finish.
The channels may involve:
To get good grade diamonds to the market at minimum production cost and the best possible profit margins, there is a need to simplify the diamond pipeline — procedures. This is where AI comes in.
Artificial Intelligence can assist mining operations in terms of tracking and surveillance. Drones can be employed for aerial photography as well as installing sensors in drilling rigs to capture data.
The following are three ways through which AI has helped improve mining processes:
- Simplifying the production pipeline through machine learning
Artificial Intelligence comes with a feature called machine learning. Machine learning is the process through which an AI system is fed information. This information enables it to act in a certain way and, through a series of trial and error it learns, to make predictions.
AI is similar to how the human mind works. The only difference is, that when the machine has sufficiently learned the production process, it will not need to be taught what to do anymore. It will also not get fatigued from working. This process eliminates mental barriers, increases mining hours, and saves manpower costs.
When an AI is fully optimized for mining duties, it reduces the length of production. Allowing it to go from start to finish in the quickest time possible.
3. Deploying better gadgets to monitor proceedings
The deployment of AI tools in mining operations allows for more sophistication. No doubt, an aerial surveillance drone system can track proceedings better than any human eye can, especially in zones where the terrain is not 100% safe or accessible to humans.
Drones can provide better mapping routes and ease of feedback during mining. The deployment of other AI-based tech trumps traditional methods.
Data is captured faster. This efficiency enhances planning and decision-making.
4. The rise in blockchain technology
One of the ills of diamond mining in recent times has been the challenge of curbing the distribution of conflict diamonds. This challenge can be solved by embracing blockchain technology.
Blockchain is a shared system that supports the tracking of transactions and assets. Its entire system employs the duplication of transactions across the AI network. This makes it difficult to hack or hide information.
Blockchain has gained ground in popularity because of its use in cryptocurrency. With blockchain, you can track diamond origins and eliminate conflict diamonds from its distribution chain.
Blockchain gives each diamond transaction a unique identity in the distribution chain. Its decentralized powers allow it to take on a role as the technology of the future.
Artificial Intelligence is relatively new on the terrain. Nevertheless, it appears to be gathering momentum in its application to the diamond industry even as the excavation of diamonds changes. The technology around it too must adapt to the new times.
As the years roll by, there will be better adaptation and more improved technology on the horizon.