Transforming Agriculture through Digital Technologies
In a world where population is expected to grow significantly, natural resources become scarcer and climate changes dramatically, we need to produce much more with much less.
In this sense, the role of the agricultural industry becomes fundamental in supporting global food supply.
This is also demonstrated by the latest developments in regulatory frameworks and policies, including the expected changes in the Common Agricultural Policy (CAP) within the EU.
To respond to the rapid changes in their external environment and maintain their global competitive footprint, companies and organizations operating in agriculture should adopt a high level of awareness, practicality and timeliness when forming and implementing their strategies.
In this context, recent technological advancements in Artificial Intelligence, Internet of Things, Blockchain and other digital areas, are employed in agricultural production and value chain. Indicatively, the use of precision farming, robotics and drones not only increase production and optimize the use of resources, but also reduce waste and ensure food traceability and quality.
As we will see in this report, we are moving towards a challenging, yet exciting period of the agricultural industry.
The increasing convergence of tech and agriculture (“AgTech”) makes the industry attractive for new entrepreneurial initiatives, financial investment and enterprise clustering and this is evident by the developments across companies and organizations that Deloitte serves.