Increasingly, agribusinesses are embracing new forms of tech made specifically for agriculture. Technologies have been proven time and again to improve efficiency and increase profit margins for agricultural companies. The emergence of new innovations - such as automation, AI and cloud computing - mean much more advanced farm processes are now possible, prompting a surge in interest from distributors and growers alike.
In this article we cover the main types of technologies disrupting agribusiness and how they’re helping farmers to improve efficiency, reduce waste and increase profit margins.
Artificial intelligence (AI) is a method of learning from historical data using statistical analysis. For farmers, this type of technology can be used to capture and harness farm data - empowering them to optimise farm processes from planning through to harvest.
AI is being exploited by farmers to perform predictive analytics. Sensors and drones are able to capture a range of data sets; such as soil moisture, wind speed and leaf wetness. With clever computing, such as statistical analytics and predictive modelling; it is possible to use this data to forecast how, when and where is best to plant, irrigate, protect, feed and harvest crops.
In this way, AI can be used to improve yields and, therefore, significantly improve profit margins. For example, with the use of drones and remote sensors, farmers are able to assess planting conditions by taking images of farm land and collecting data from remote sensors, including PH levels and soil moisture. Then, by capitalizing on AI algorithms, farmers can continually tweak crop inputs to boost yields.
AI is also enabling more precise demand forecasting. AI makes it possible to forecast three times more accurately than with traditional methods. By leveraging contextual data, AI algorithms are able to provide actionable forecasting information - including when is best to water and harvest crops. This is particularly impressive in the context of fresh produce, where harvests are more difficult to predict.
These types of technology can help farmers to best prepare, maintain and harvest their crops - meaning they can produce more, waste less and, ultimately, increase profits.
Crop protection and fertiliser is a hidden, but highly significant expense. In fact, farmers are spending more on pesticides today than ever before - according to the National Agricultural Statistics Service, the agricultural costs resulting from production for the year 2017, in the US, reached an increase of 3.7% compared to previous years.
As commodity prices continue to surge, companies incur higher growing costs, forcing many farmers to re-evaluate their approach to input use and cropping. IoT, or ‘Internet of Things’ could provide a solution.
IoT, or ‘Internet of Things’, describes everyday objects embedded with electronics to enable data transfer, without the need for human-to-human or human-to-computer interaction.
Using this type of technology, farmers are able to simplify and streamline the collection, inspection and overall distribution of agricultural resources - such as where and when to treat crops - simply by collecting data from equipment and produce.
Today, farmers are able to collect air-borne and space-borne data from fields, as well as corresponding historical and climate data. With this, the technology applies crop, variety and region specific analysis of data as well as crop phenology and attributes.
With greater insight, farmers are able to isolate undesirables such as agronomic issues, nutrient deficiencies, disease infections, as well as pest and weed infestations.
This makes it possible for farmers to apply treatments optimally, helping to ensure that outputs exceed inputs. Furthermore, with greater insight, farmers can avoid fronting the huge costs incurred by misdiagnosis or unnecessary treatments.
