AI-Powered Solutions for Gemstone Industry Challenges

[ANUGAMAGE]

Hello @everyone I have a specific idea related to gemstone industry. I need your guys thoughts related to my ideology.

Idea and solutions :
The global gemstone market, valued at $33.2 billion in 2023, is projected to witness a steady growth trajectory with a compound annual growth rate (CAGR) of 6.00% from 2023 to 2030, according to Cognitive Market Research. Despite rapid advancements in Artificial Intelligence (A.I.) across various industries, the gemstone mining sector has yet to fully leverage its potential. Research pertaining to A.I. applications in gemstone mining and market analysis remains limited, presenting a significant opportunity for innovation. From a business standpoint, the gemstone industry faces several challenges, including the prevalence of synthetic gemstones, overpriced rough gems, and the high costs and time associated with gem identification and classification. This creates barriers for newcomers entering the market, leading to financial losses and reliance on community platforms for gemstone authentication. A viable solution lies in the development of a user-friendly, open-source application utilizing machine learning models and computer vision technology to aid gemstone business owners in identification, classification, and price prediction.

Additionally, the absence of a universal molecular nomenclature specific to gemstones further underscores the need for computational research in this domain. Leveraging A.I. can enhance efficiency across various facets of gemstone production, including maintenance of fuel efficiency in mining operations, gem identification and classification, price prediction, and gem cutting and enhancement processes. Through these advancements, the gemstone industry can optimize production outputs and quality while mitigating financial risks for stakeholders.

Common problems that rises in the gem communities when buying gem stones :
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Summery:

• Gemstone market valued at $33.2 billion in 2023, projected steady growth at 6.00% CAGR from 2023 to 2030.
• Gemstone mining sector lacks utilization of Artificial Intelligence (A.I.), presenting innovation opportunities.
• Challenges include prevalence of synthetic gemstones, overpriced rough gems, and costly gem identification.
• Proposed solution: Develop user-friendly, open-source application using machine learning and computer vision for identification, classification, and price prediction.
• Lack of universal molecular nomenclature for gemstones highlights need for computational research.
• A.I. can enhance efficiency in mining operations, gem identification, price prediction, and cutting processes.
• Aim: Optimize production outputs, quality, and mitigate financial risks for stakeholders.

References :

1. https://www.researchgate.net/publication/357182798_SUSTAINABLE_DEVELOPMENT_OF_GEM_PRODUCTION_AN_APPLICATION_OF_THE_ANALYTICAL_HIERARCHY_PROCESS
2. https://www.researchgate.net/publication/375647223_Gemo_An_AI-Powered_Approach_to_Color_Clarity_Cut_Prediction_and_Valuation_for_Gemstones
3. https://www.researchgate.net/publication/371490185_Gemtelligence_Accelerating_Gemstone_classification_with_Deep_Learning

Journals :

1. https://gem-a.com/publications/the-journal-of-gemmology/#:~:text=A%20leader%20in%20its%20field,treatments%2C%20synthetics%20and%20simulated%20gemstones.
2. http://jogg.cug.edu.cn/
3. https://www.gia.edu/gems-gemology-publication-info-winter-2023

I kindly appreciate your ideas and thoughts. Thanks!

[Roque-MPZ]

Hello Anu, I recently reviewed this idea a little, it seems to me to have a good basis to start a quite challenging job, I have been thinking a little about it.

[Roque-MPZ]

It seems like a good idea to me to explore to see if we could develop a sensor based on artificial intelligence with optics or photonics. I know some techniques that I explored in my PhD.