Transforming Agribusiness Operations with Machine Learning

According to a Markets and Markets report, the global agriculture analytics market size is expected to grow from USD 0.8 billion in 2020 to USD 1.4 billion by 2025. The ag industry is increasingly embracing machine learning to aggregate trends, assess and manage risk, and create more accurate yield forecasts.

Despite seasonal differences from one year to the next, machine learning is transforming agribusiness by providing valuable insights into critical elements such as weather, soil condition, equipment performance, and crop stress. Using machine data, agribusiness operations can:

• Monitor crop development, identify signs of pests and diseases, and assess risk levels to improve crop protection.
• Analyze current field conditions to make informed decisions about irrigation, product application, and planting and harvest timing.
• Estimate evapotranspiration and evaporation rates.
• Analyze and predict patterns in output to provide data around what, when, where, and how to plant.
• Make better decisions across the entire ecosystem, help with workload, improve processes, and create operational efficiencies.

Using Machine Learning for Fleet Performance

When an unexpected incident occurs with machinery, it is more than just an inconvenience. Idle machines impact the operation’s bottom line. With new developments in machine learning however, agribusiness operators can now collect, organize, and share data across their fleet to derive performance insights.

Data collected can be used to proactively reduce the number of unexpected incidents, control costs, improve safety, and provide other business-critical benefits such as:

• Reduced fleet repair costs
• Predictive maintenance
• Task automation
• Reduced downtime

Historically, the ag industry has focused on agronomic data. But with powerful new machine learning technologies, modern agriculture has an opportunity to gain greater insight into the operational environment – increasing production and quality while providing real-time data for decision support and action.

Contact a member of AssuredPartners Agribusiness team to learn how we are using technology and data to help our clients make informed decisions on deductibles and limits, as well as have specific conversations about their operations.