AgriTech, the fusion of agriculture and technology, aims to maximize yields and efficiency by using technologies and applications such as artificial intelligence (AI), big data, and robotics. It is an enabler to agriculture data creation and deep analysis using advanced algorithms and is also an end-use product used by players across the agriculture value chain.
Smart farming uses conventional inspection and research to optimize farms and fields and makes them more efficient. AgriTech strives to build such a smart farm ecosystem. Credit and risk are the key dimensions of agriculture across the world. Technology helps in hedging risks and providing predictive insights; it is also used to underwrite credit.
Technology Has Created an Intersection of AgriTech and FinTech
AgriTech isn’t limited to automating farming activities. AI, IoT, and autonomous agricultural vehicles are among the technologies that are being supplemented with data to automate agricultural decision-making. AgriTech offers the possibility of transforming stand-alone farming to a more connected and efficient value chain.
FinTech is leveraging progress in AgriTech and using the agriculture value chain data generated by technologies such as drones, sensors, IoT-based monitoring, and satellite imaging to offer financial services to AgriTech stakeholders.
Here are the four dimensions throug …