Artificial Intelligence in Agribusiness is Growing in Emerging Markets

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Business models utilizing artificial intelligence can help meet rising global demand for food and support a more inclusive and sustainable food system by:

(1) enhancing the resilience of farming methods; 
(2)reducing the cost of quality inputs and services to underserved farmers; and 
(3) improving market access to facilitate smallholder farmer integration into regional and global supply chains. 

AI technologies are transforming agtech business models, it also extends products and services to underserved farmers. Farmers need access to credit and insurance to expand their businesses and manage risk, and to enhance the resilience of their operations. Many emerging market farmers lack access to affordable financial products because of the significant time and cost required to price their risk and collateral, as well as the difficulty of serving farmers in rural and remote areas. Technological advancements in satellite weather data collection and the wider adoption of mobile technology has dramatically reduced these costs, facilitating the extension of financial products to farmers in emerging economies

Document Information

Document Type Article
Author Peter Cook, Felicity O’Neill
Year of Publication 2020
Publisher IFC
Number of Pages 8
Region / Country Global /
Primary Language English (en)
Keywords Agribusiness, Artificial Intelligence
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