Risk Management
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Precision forecasting is the backbone of another agricultural AI tool: risk management.
Risk management offerings and algorithms are used to determine economic trends, commodity prices, supply chain management, if a farmer should use government insurance and minimum yield requirements
Benefits for the company
Growing a sustainable crop in mass quantities requires a farmer to take enormous financial risks that rely on razor-sharp agricultural yield estimates to fulfill supply chain orders but farmers are taking advantage of forecasting and predictive analytics to reduce the risk of crop failures.
Feasability
Medium
Type of expertise/ AI domain
Forecasting and Predictive Analytics
Internal data required
Plant population,, Plant strain, irrigation, soil preparation, pest control
External data possible
Climate and Weather data