Providing food for the residents of planet Earth has become very expensive. Costs are increasing in seeds, fertilizers, and herbicides by 38 percent. Costs are also increasing in labor forces by 30 percent. Not only are economic costs increasing at an alarming rate, environmental costs are increasing even more rapidly. That’s where AgTech comes in to play.
Some of these AgTech companies are showing up just in time to address these increasing costs—primarily in sensors, improvement in computational capabilities and the advancement of machine-learning techniques. As stated in the article, “Whether it is the ability to capture more data, analyze it more robustly, or act on it more precisely, these are all components that lead to a reduction in inputs, a better management of the production cycle and automating costly processes.”
If AgTech and the increasing costs were to be in a battle, AgTech would win and save the world. It’s helping farmers be more productive, make smarter decisions for their farms, and waste less of their resources. Resources can range from environmental and economical. Regardless, they are using the right amount of resources with the help of these precision agriculture based AgTech companies.
The AgTech industry is really leaving a strong and lasting impression for the Agriculture industry and the Tech industry. It’s combining two of the most important things on earth right now, and improving our standard of living. AgTech is really going to save our world.