Is Artificial Intelligence the Future of Minting?

In June, the Mint Director’s Association held a webinar focusing on artificial intelligence (AI) as a tool and how it can be implemented to improve productivity. Titled ‘The Future is Here: How Artificial Intelligence Will Change Modern Minting’, the webinar was hosted by Aditya Berlia – an entrepreneur, educator, and AI advocate – and sponsored by Carveco.

Mr Berlia opened the webinar by providing context about where the industry is at the moment, noting that most mints currently have ‘four or five major struggles’ – with the move away from coins as currency, and more generally physical currencies, as one of the main issues. The requirement to fill this gap with other products such as bullion and collectables, the not insignificant issue of cost, differences in technologies and using these as a way of differentiating from other products, and sales channels creating a personal connection with the customer and e-commerce, were all mentioned as other ongoing concerns.