As some entities identify new (or at least overlooked) sources to meet the growing demand for rare earth materials, others are looking toward new tools. UK deep-tech company Materials Nexus announced on Tuesday that it has designed a new rare-earth-free permanent magnet with the help of its AI platform. It says the AI-driven discovery and development process was 200 times faster than the resource-intensive manual route, bringing new hope to an electrifying world with a growing appetite for powerful magnets.

With the world moving away from internal combustion engines and gradually embracing electric mobility, the demand for compact, high-power motors is rapidly rising. By far the most popular option in the automotive industry right now is the permanent magnet motor, which powers upward of 80% of modern electric vehicles.