The Food and Agriculture Organization has warned for years that crop production needs to increase by 60-70% by 2050 to feed the demands of a growing global population. Energy, water and natural resource management, carbon emissions, labor shortages, natural disasters and economic uncertainty are affecting the industry that turns to technology for intelligent solutions.
While technology innovates to solve many of these issues, for example, reducing energy and water usage with AI analytics and sensors, or using geospatial imagery to increase weather resilience, other problems are proving to be more complex.
Luckily, the digital transformation of agriculture is in full swing. Industrial IoT devices, robotics, satellite connectivity, artificial intelligence and cloud-edge platforms are driving the acceleration of the sector.
Agriculture is one of the largest and most significant industries in the world, with a global value of $2.5 trillion, according to the World Economic Forum. The sector is dominated by companies like Cargill, CNH Industrial, Bayer and John Deere.