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.
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