It’s no longer news that we’ll need to feed 10 billion people in a few years with the same arable land we have today. The challenge is placed and the solution goes through targeting a continuous evolution for a greater efficiency in our agriculture.
In addition to this challenge, there’s a transformation in consumer behavior that increasingly demands that sustainable practices are a “must have” of the products they consume every day.
In this context, Precision Farming is a very powerful instrument to drive this transformation from field to fork.
Precision Farming is an innovative approach that has changed the way farmers manage their agricultural activities. Through the use of technologies such as GPS, sensors, drones, geographic information systems among others, Precision Farming allows farmers to accurately monitor and control each step of the production process, from planting to harvesting.
Some benefits of Precision Farming adoption by producers include:
1. Cost reduction: It is possible to reduce inputs such as fertilizers, pesticides and water, as the application is made in a more precise and controlled way. That reduces waste and production costs, increasing the profitability of the business.
2. Increased productivity: By more accurately monitoring soil, weather, and plant conditions, it is possible to identify problems early and take corrective actions quickly. That increases production efficiency and improves product quality.
3. Sustainability: Precision Farming helps in reducing the environmental impact of agricultural production. By using natural resources more efficiently and reducing the use of agricultural inputs, it is possible to reduce carbon emissions, preserve soil health, and make farming more sustainable in many aspects.
Our solutions are supported by innovative MERCURY and MARS frameworks which serve as platforms to enable new features in agency banking. The frameworks can integrate with existing structures in streamlining the development process for scalability in digital finance
However, the adoption of Precision Farming can also face some barriers to be overcome by farmers and companies in the sector. Among the main challenges, here are some highlights:
1. Investment in technology: The adoption of Precision Farming requires an investment in technology, such as monitoring systems, sensors, drones and data analysis software. This investment can be a barrier for smaller farmers, who often do not have sufficient resources to acquire these kind of technologies.
2. Technical training: Precision Farming requires more technical training of farmers and professionals involved in agricultural operations, so that they can properly use the solutions and understand the data collected. It’s necessary to invest in training and capability building so that the technology can be used efficiently in the right way.
3. Infrastructure & Connectivity: to use Precision Farming technologies, good connectivity is required, which can be a challenge in some rural areas. It is necessary to invest in infrastructure for farmers to be able to use the technologies properly.
One way to overcome the barriers to Precision Farming adoption is through a collaborative approach involving different players in the agricultural sector, such as farmers, technology companies, startups, researchers, financial institutions, and government. This collaborative approach can foster the innovation ecosystem and generate solutions to Precision Farming challenges.
An important point to be taken into account is the communication and understanding of the real value for all stakeholders, so that a real engagement for the solution’s implementation, partnerships, and business models can be created.
It’s the famous “what’s in for me?”’
The value for a farmer might be a higher productivity or a sustainable harvest, while for a company it might be to increase its sales or achieve its ESG goals. For a startup it could be to test and validate a solution in the field, while for financial institutions it could be to increase their credit lines, for example.
Partnerships between companies in the agricultural sector, startups and producers are fundamental both for the companies, who are constantly developing new solutions, as well as for the producers, who seek access to innovative technologies and solutions. Farmers should participate in pilot projects to test and evaluate technologies on their properties, collaborating with the development, validation, and improvement of new solutions.
Encouraging access to credit and investment is key to enable farmers to invest in Precision Farming technologies. Companies can work in partnership with financial institutions and investors to create specific credit and investment lines for the agricultural sector, encouraging the adoption of innovative technologies, while producers should seek these lines of credit to finance the adoption of these new technologies. In addition, companies must work together with government agencies to encourage programs to improve infrastructure and connectivity in rural areas.
The promotion of training programs, events, and discussion forums help producers to understand new concepts and techniques and also serve as a good networking for exchanging experiences with other professionals and companies in the industry.
In summary, this collaborative approach, that generates value for all stakeholders, is the path that will boost the adoption of Precision Farming, contributing to the sustainable development of the agricultural sector.
We can transform the challenge of feeding our growing population in an increasingly efficient and sustainable way, into a great opportunity to drive the development of technology, infrastructure, new policies and new business models solutions that are profitable for the entire ecosystem, generating a "win-win" relationship through the innovation network.
After all, since the topic is agro, why don’t we turn this lemon into a tasty lemonade?