The future of the agricultural industry enabled by technology is
promising. As explored in this publication, certain technologies can
easily be positioned to enable the industry’s current scenario, while
others hold promise in the long-run. Blockchain technology can present
new opportunities in agricultural management, trends, and livelihood,
along with areas that IBISA is currently tackling. A clear understanding
of the technology by governments will bring about regulatory clarity,
which will allow usage of internationally traded agricultural
crypto-currencies. Supply chain and production will become more defined
and efficient, thus creating new market opportunities. Due to financial
and technological improvements through current processes within the
agricultural industry, an emerging economy will provide new incentives
to onboard technologies such as IoT, AI, Genetics, Biotechnology, and
localized agricultural machinery. According to a report published by FAO
(Food and Agriculture Organization of the United Nations), the total
population of the world will hit 11.2 billion by the year 2100 and
current food security needs will double.
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As emerging economies are positioned to oversee the largest rise in
population, it is fair to say that the agricultural industry will carve
out a massive chunk of the consumer economy in the future.