Category : Artificial Intelligence
The growing world population facing the scarcity of resources is not new to the world. According to Malthusian Theory of Population, the human population grows exponentially in geometric progressions (2,4,8,16, 32…) while that of food production grows arithmetically (1, 2,3,4…). Thus, defining a wide gap between the food requirements for the growing population.
According to UN projections, the global population will reach 8.5 Billion in 2030 and 9.5 Billion by 2050. Presently, we are not even capable of feeding the 7.3 Billion people in the world. The FAO has estimated that the food production will have to grow by 70% in order to meet the requirement.
However, his theory (1798 and revised 1803) was a thing of the past. He wasn’t having any idea of the Artificial Intelligence which incepted in 1940 with the dawn of modern age. He didn’t included Artificial Intelligence and its use cases in the agriculture. The growth of AI in agriculture is remarkable in the past few years. And if this progress continues, we could be able to meet that 70% food production growth.
Growth of AI in Agriculture
The use of AI has made the agriculture smarter than ever. Smart agriculture is used to enhance the food productivity and address the issue of food supply and make the farms more connected and intelligent. According to a report by Statista, the share of US agricultural retailers that offer yield monitor data analysis is expected to grow from 51% in 2015 to 62% by 2020.
Smart agriculture employs a range of AI and IoT based applications such as precision farming, variable rate technology, smart irrigation as well as smart green houses.
The modern times is having many companies which are utilizing AI for increased food productivity.There are many applications, use of image recognition to identify weeds, assess plant help, predict weather patterns, to name a few.
Investment in Smart Agriculture
This smart agriculture has seen a tremendous growth in investment collectively for the production of drones for farming and other applications of AI in agriculture. According to an article published in CNN News, the US-based company NatureSweet has raised 15 million investment from investors like Qualcomm Ventures and Cisco Investment for the adoption of AI in their greenhouse.
Not only this, Sweden-based AI focussed company, Imagimob has received 400 K Euro in funding for its Edge AI research in Farming.
On the basis of these facts, we can clearly depicts that with the dawn of AI, there is a significant room for agricultural productivity to improve. However, AI is still in its infancy and there is much more to come that could provide a solution for future food shortages.