Artificial Intelligence- Positively Transforming the Diamond Industry with Simulated Learning
Posted by Hari Krishna
August 24, 2022
This blog talks about how AI has revolutionized the diamond industry by increasing the efficiency in mining and production techniques. Few people have extensive knowledge regarding this topic because it is a section of the diamond trade that is rarely talked about.
Diamonds have existed in our ecosystem for thousands of years, while their use as precious stones and gems remains the same.
In contrast, the technology surrounding their excavation, manufacturing, and maintenance has changed immensely over the years.
Without further ado, let’s evolve our learning about this topic!
The use of artificial intelligence has effectively expedited the manufacturing process with the help of sentient learning, while machine learning has pushed the threshold of the automation systems capabilities.
The very first revolution in diamond manufacturing came around the early 2000s, when a group of Israeli developers realized that when the characteristics of the diamond (shape, size, color etc.) were simply thought of as data, a programmable automation system (Artificial Intelligence) could take over the production decisions.
From the stone’s color, shape and size to the likelihood that a human operator will make a certain decision for production, many factors come into play while making a decision for production.
Artificial Intelligence, coupled with Machine Learning takes these factors into account and runs simulations based on various scenarios. The system executes trial and error runs based on a large amount of input and determines patterns that have to be followed to arrive at an economically viable production decision.
Once a preset database has been established by the system, it recognizes the volume and categories in which the diamonds have to be manufactured. It then starts making accurate production decisions faster, leading to more diamonds being produced in a lesser amount of time.
The usage of AI driven processes for enhancing sales and customer service is becoming increasingly abundant by the day as diamond sellers and manufacturers have started realizing the benefits that they provide.
Some of the ways AI based analysis benefits the diamond industry are:
• Boosting sales
• Enhancing customer services
• Optimizing the manufacturing process
• Improving process efficiency
• Maximizing the profits
The three major ways through which AI-based analysis and grading are affecting diamond manufacturing are as follows:
1. Easing up the Mining process ➡️
The diamond manufacturing process is an extremely time consuming affair as it passes through various channels of miners, gemologists, manufacturers, traders, and retailers.
However, the excavation of diamond ores takes up a huge chunk of the time.
This is where AI comes in.
Geological tracking devices, drones for aerial photography, and sensors in drilling rigs that capture real-time data are all components of an advanced system of AI and Machine learning that enhance the planning and decision making during the mining process.
Thus, AI can be used to decrease the production costs and make the entire mining process easier to execute.
2. Expediting the Grading process 🏃💨
Manufacturers tediously go through the grading process of a diamond in a repetitive fashion. This is because the diamonds are submitted to the gem laboratories to enhance grading results and optimize the quality of the polished diamond.
In order to get the polished and graded diamonds out into the market quicker, there is a clear need to simplify the whole process for the benefits of all the parties involved.
With the help of an instantly accessible AI-grading technology, the time taken to complete this process can be reduced drastically and manufacturers can avoid the hassle involved with optimizing the diamond grades.
AI-based grading allows for the greatest flexibility in how diamonds are examined and graded. Advanced scanning and imaging technology, coupled with machine-learning-based grading algorithms, can enable faster diamond grading, without the need for extensive lab equipment.
Additionally, it frees up the production line by shortening the grading process as there is no requirement to send the diamonds to the labs multiple times. This is a crucial factor for saving both time and money.
3. Improved Inventory 🛠️
A high quality inventory is the primary requirement for increasing the profits of a company. With AI-based technology, while the diamond is being treated, producers can effectively maximize their polished output on several grading metrics.
The development of an AI with a concoction of programs best suited for this purpose assists the promoter of the business in establishing a point of parity in terms of quality, between their products and the competitor’s products.
Moreover, efficiency in the production process can be enhanced manifold owing to the sentient nature of AI Systems that analyze repeated data lots faster and more accurately. The supply of top notch diamonds in the market can be made available on a larger scale and proprietors can capitalize on this opportunity.
Rather than flooding the market with assorted polished diamonds graded after the production, the diamond producers might use flexible AI-based grading procedures to orient their polished inventory to the right customers and markets or even to adapt their manufacturing process in real-time based on grading data and customer demands.
• DiaCam360 – The most recent Israeli venture, which results in the automatic determination of a diamond’s color and clarity based on a proprietary database of hundreds of thousands of diamond pictures. The diamonds in the database have been graded by the GIA.
• Ringo – The World’s first AI diamond selecting tool, created by experts of Diamond Pro. It has been programmed to assist you in finding a crystal-clear diamond depending on your budget, shape, setting preference, and preferred metal type.
• Sarine e-Grading – Sarine Technology Labs’ first AI to enable automated 4Cs grading based on real-world technologies and artificial intelligence, providing objective, trustworthy diamond grading with unparalleled consistency.
• International Diamond Grading System™ – The AI clarity system developed with the cumulative efforts of GIA and IBM. It is supported by data from tens of millions of gems analyzed by GIA’s experienced diamond graders in their world-class grading facilities.
Just like Diamonds, technology can be pretty fascinating. As the techniques for diamond mining and excavation have changed over the years, the technology around them changed too.
The notion of ceaseless improvement is what we at Hari Krishna Exports Private Limited believe in, as the amalgamation of technology and human intelligence can create wonders when working hand-in-hand.
We always seize the opportunities for positive technological enforcement to change the world around us for good.
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