- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
The agriculture industry now is experiencing rapid growth and adopting advanced technologies in order to bolster the overall yield of the crops. Accessibility of a large number of equipment and state-of-the-art technologies like intelligent monitoring system, drones, robots, among others has totally revolutionized this sector.
Artificial Intelligence is one such vital technology in today's digital agriculture that is being implemented and deployed on a large scale for more sustainable use of available resources.
In 2017, the global market for artificial intelligence in agriculture was valued at around US$ 545 million, which is now increased and predicted to reach nearly US$ 2,075 million by 2024. The market will rise at a growing CAGR of 21% throughout the forecast period.
By leveraging AI, farm enterprises and farmers will be able to enhance agriculture production to meet the food demands in need of the hour. Since humans work hard and can only perform for some hours, machines have no fixed time to work. Every person's mind has not strong decision-making abilities that can lead the inadequate and indecorous decisions. Conversely, AI-powered machines better learn the situations or environment and make strong decisions.
Today, AI has a huge impact on agriculture space, so, look at these trends how it revolutionizes this sector.
Advanced technologies such as remote sensing accompanied by the 3D laser scanning are helpful and can provide crop metrics across thousands of acres of farming land. It can bring revolutionary changes from the perspective of time and efforts are monitored by the farmers.
With the help of emerging solutions, farmers and farm enterprises can make better decisions during the farming as well as can assess a variety of things like weather conditions, temperature, water usage, or soil conditions in real-time.
With the help of computer vision technology and drone-based data collected, farmers can take immediate actions in real-time in order to generate the alert to speed up precision farming. This is one of the significant areas in today's farming. Computer vision technologies can be deployed in areas including disease detection, crop readiness and identification, field management, and soil survey and mapping.
Environmental challenges like climate change and others are the biggest threats to agricultural productivity, but AI-powered techniques and data-driven farming can help in making it easier for farmers to navigate shifts according to environmental conditions. It assists to address climate change by powering smarter resource management.
In this process, farmers can detect pests, diseases in plants, and poor plant nutrition of farms with the help of AI. Also, AI sensors can identify and target weeds and then decide which weed killers or herbicides to apply within the right zone. It assists to thwart over application of herbicides and excessive toxins that find their way in today's daily food.
By leveraging AI, farmers are also creating seasonal forecasting models to enhance agricultural accuracy and productivity.
Despite a huge number of opportunities for applications in agriculture, there is still a lack of familiarity with the latest technology across most of the world. Also, the high initial cost associated with the deployment of AI in agriculture can be a restraining factor towards digitalization of the agriculture sector.
Rising investments in and adoption of AI and robotics are majorly accelerating the growth of the global AI in the agriculture market. AI applications in agriculture comprise agriculture robots, autonomous tractors, agricultural drones, crop health monitoring, facial recognition, and automated irrigation systems.
