Russia's MMC Norilsk Nickel PJSC is investing $100 million in artificial intelligence to discover new uses for palladium as electric vehicles threaten the metal's traditional automotive demand. The mining giant is racing to diversify palladium applications beyond catalytic converters, which have been the metal's primary market.

The AI initiative represents a strategic pivot for Norilsk Nickel as the auto industry shifts toward electric vehicles that don't require palladium-based catalytic converters. This $100 million investment signals the company's urgency to secure palladium's future as traditional demand erodes. The move comes as palladium prices have faced pressure from changing automotive technology and supply chain dynamics.

By leveraging AI to identify alternative industrial and commercial applications, Norilsk Nickel aims to create new revenue streams and stabilize palladium markets. The company's proactive approach reflects broader concerns in the mining sector about adapting to technological disruptions that threaten established commodity demand patterns.