The Australian Resources & Energy Employer Association (AREEA) has released a groundbreaking report, Megatrends, predicting significant technological advancements that will reshape the resources and energy sector.
These innovations, driven by the transition to net-zero emissions, include exoskeletons enhancing miners’ strength and endurance, collaborative robots augmenting labour supply, and sensors monitoring workers’ health and wellbeing.
AREEA CEO Steve Knott emphasised the transformative impact of these megatrends on the industry.
“Megatrends ranging from generative AI to the energy transition are changing the world and the future of work,” said Knott.
He stressed the need for strategic planning and investment to ensure the sector remains robust and profitable amidst these changes.
The report highlights key megatrends, such as the Fourth Industrial Revolution, the materials revolution, and the bio-revolution, as key drivers of innovation in the industry.
It also notes a growing demand for trust and governance, as well as the need for upskilling and restructuring to meet changing workforce demographics and expectations.
Technological advancements like biomechanical exoskeletons, augmented reality-enabled maintenance, and virtual reality training are set to revolutionise mining operations.
In the oil and gas sector, innovations include thermal imaging drone inspections, virtual reality walkthroughs of offshore installations, and smart sensors for decision-making.
Despite the potential benefits, the report cautions that the sector’s “cyber maturity” remains low, necessitating a new trust architecture to defend against cyber threats.
Additionally, the materials revolution will introduce lightweight nanomaterials for exploration, while the bio-revolution will upgrade infrastructure to higher hygiene standards post-COVID.
Overall, the report underscores the need for the industry to adapt to these megatrends by investing in technology, upskilling the workforce, and embracing innovation to remain competitive in a rapidly evolving landscape.
The Megatrends report is available for download on the AREEA website.
