Precision Agriculture: The Role of Big Data and Future Trends

Current Applications of Big Data in Precision Agriculture

Deere & Company is leveraging big data through precision upgrades and Solution-as-a-Service offerings, enhancing fleet performance and delivering significant value to customers.

"In the future, we're going to continue accelerating the utilization of technology as we grow our precision upgrade retrofit business as well as Solution-as-a-Service offerings." --- (DE, earning call, 2024/Q2)

"Combine that with performance upgrades and precision upgrades together with what we're doing with precision ag essentials, and we'll be able to take most of the value we're creating out through the fleet into each of those customers. So, we feel pretty good about that." --- (DE, earning call, 2024/Q2)

Role of IoT and AI in Technological Advancements

Advancements in AI and IoT are driving technological progress in precision agriculture, with companies like Intel, Google, Microsoft, IBM, and Amazon expanding their services and addressing challenges in AI reasoning, logic, and workforce skills. AWS's extensive IoT and AI services highlight the significant role these technologies play in modern agricultural practices.

"Driving the shift are advancements in foundational technologies, including AI, semiconductor electronics, compute power and infrastructure solutions among others." --- (INTC, conference, 2024/06/12)

"Planning is really challenging for AI to get right. It requires advancements in reasoning, logic, space-time awareness." --- (GOOG, twitter, 2024/05/14)

"To ensure that the adoption of generative AI is managed responsibly and in a way that cultivates trust, skilling programs, such as Cognizant's Synapse, will play a key role in preparing the modern workforce to thrive in the age of enterprise AI, and help reduce friction in changing roles as the technology changes the nature of work." --- (MSFT, press release, 2024/04/22)

"Skills also proved to be an area of focus for the CEOs. While 60% of surveyed BFM CEOs say their teams have the skills and knowledge to incorporate generative AI, more than half (53%) of respondents say they are already struggling to fill key technology roles." --- (IBM, press release, 2024/06/05)

"AWS has been continually expanding its services to support virtually any workload, and it now has more than 240 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, media, and application development, deployment, and management from 105 Availability Zones within 33 geographic regions, with announced plans for 18 more Availability Zones and six more AWS Regions in Malaysia, Mexico, New Zealand, the Kingdom of Saudi Arabia, Thailand, and the AWS European Sovereign Cloud." --- (AMZN, press release, 2024/04/30)

Emerging Technologies in Precision Agriculture

Customers are increasingly investing in integrated technology solutions and precision agriculture to lower input costs, improve margins, and enhance profitability, productivity, and sustainability.

"A potential benefit is that customers may invest in integrated technology solutions and precision agriculture to lower input costs and improve margins." --- (DE, sec filing, 2024/Q2)

"Trends and Economic Conditions Industry Sales Outlook for Fiscal Year 2024 Agriculture and Turf Construction and Forestry Company Trends Customers seek to improve profitability, productivity, and sustainability through technology." --- (DE, sec filing, 2024/Q2)