AI Transforms Farming 🤖: Smarter Crops 🌱 Loans 💰 & More 🚜!

EDITOR’S NOTE

Dear Reader, welcome to another edition of Nanobits.

Yesterday, I read about Rajesh, a farmer from the heart of rural Maharastra who spoke about how AI transformed his life! With a simple app on his smartphone, Rajesh can identify pests and diseases, get tailored advice on fertilization, and even predict the optimal time to harvest.

AI is not just changing the way Rajesh farms; it's transforming the entire agricultural landscape in India. And, that brings me to today’s edition where we will explore more about how innovative AI solutions are shaping the future of the global agriculture industry. 

In Today’s Newsletter:

• The Language of Crops: KissanAI's Dhenu Llama 3

• Seeding Success: AI-Powered Lending for Latin American Farmers

• Farm to the Future: AI's Impact on the Agriculture Industry

• Latest AI Job Opportunities in India

• Latest AI News from Around the World

TOP NEWS
KissanAI’s Dhenu Brings AI-Agri Expert to Farmers

KissanAI launches Dhenu Llama 3, an Indian language AI model for farmers, now available on Hugging Face. It's based on Llama3 8B and promises to be even more helpful for farmers than the previous version Dhenu 1.0.

Why is it relevant?
This AI model is like having a pocket-sized agricultural expert who speaks your language! It can provide farmers with personalized advice and information, empowering them to make better decisions and improve their livelihoods. It's a testament to how AI is revolutionizing even the most traditional sectors, making information and expertise accessible to all. Read More

TOP NEWS
Traive's AI Transforms Latin America’s Farming

Startups like Traive are using AI to revolutionize agritech lending in Latin America. They analyze vast amounts of agricultural data to assess risks for lenders and improve farmers' access to credit.

Why is it relevant?
Traive's AI-based platform is transforming the industry, enabling farmers to access credit more easily and reducing financial risks. This innovation has the potential to increase agricultural productivity, efficiency, and sustainability, benefiting farmers, lenders, and the environment. Read More

NANOBITS RESEARCH
Holy Crop! AI is Cultivating a Farming Revolution

The global AI in agriculture market size was valued at USD 1 billion in 2022. It is projected to reach USD 5.96 billion by 2031, growing at a CAGR of 25% during the forecast period.

According to another research, the generative AI in agriculture market size is expected to be worth around $1.2 billion by 2032 from $138 million in 2022, with a CAGR of 25%.

Some factors that contribute to the growth of AI in the agriculture market include: Demand for high crop yield, Focus on enhanced crop management, Drones for pesticide spraying, Labor shortage and rising labor costs, and High adoption of advanced technologies.

In this segment, we will explore the workings of the global agriculture industry and how AI is shaping it:

Top Tech Companies Pioneering the AI Revolution in the Agriculture Industry by Use Case:

1. Detect & Manage Pests:

   • Plantix, a Germany-based agritech firm focused on India, is experimenting with GenAI to enhance its plant disease diagnosis app, offering users diagnoses and treatment options through image analysis.

   • Niqo Robotics, previously known as TartanSense, has pioneered AI-powered spot spraying for pesticide application on the continent, deploying their RoboSpray™ across several Indian states, covering 90,000+ acres and aiding 1800+ farmers with significant chemical cost savings.

2. Farm Management:

   • Kryzen Biotech has 2 AI-based solutions that aid the vertical farming ecosystem in India. One of them is Price Watcher — it uses AI to predict crop prices and informs which ones would yield more ROI in a particular cycle.

   • HydroBuild is an AI-based remote monitoring automation system, that enables the farmer to maximize their yield by automating the dosage and balancing water quality

3. Crop Breeding: OlsAro is a Swedish agritech startup developing crop varieties that are resilient to environmental stressors. Their first product, salt-tolerant wheat, has shown a 52% increase in yield compared to a moderately salt-tolerant variety in saline conditions in Bangladesh, enabling farming on otherwise unfarmable land.

4. Soil Health: KrishiTantra uses AI to expedite the soil testing process, offering farmers rapid insights into soil health and fertilizer recommendations.

5. Lending & Insurance: Companies like SatSure use satellite data to generate a report for the farm, which helps banks make better agriculture loan decisions. It also helps insurance companies process compensation for agricultural losses after diseases or extreme weather events.

6. Irrigation: Using AI, an Argentina-based start-up Kilimo provides farmers with data-based tools to optimize their irrigation and manage their water better, reducing water usage by 20%. In India, Fasal provides farmers with similar insights on irrigation best practices.

7. Weather Condition: Beyond Weather employs AI-powered models to deliver precise and actionable weather forecasts, enabling European agricultural businesses to proactively mitigate risks, like crop damage, and enhance profitability.

8. Farm Inputs: FarmWorks is a Kenyan agritech startup that provides farmers with access to farm inputs, a market for their produce, and other services. It uses AI to enhance production and influence planting and lending decisions.

9. Chatbots: AI-powered bots like Digital Green, JugalBandi, Wadhwani AI, Farmer.CHAT, AmaKrushAI assists farmers with answers to their questions, gives advice and recommendations on specific farm problems, and informs them about the various government schemes they can avail.

Despite its numerous benefits, the introduction of AI in agriculture has farmers worried about the steep learning curve, lack of rural internet access, data privacy, high costs, over-reliance on technology, lack of agricultural expertise among AI developers, and potential job displacement.

While AI promises to revolutionize agriculture, farmers' concerns highlight the importance of addressing potential socioeconomic impacts and implementing supportive policies to ensure a successful transition to AI-powered farming. Building trust by addressing these concerns is key to widespread adoption.

AI JOB OPPORTUNITIES

• Amazon - Applied Scientist, Ad Fraud Detection - ML

• Nokia - Applied Scientist - GenAI

• Databricks - Leader, Solution Architect (Data & AI)

• Sciative Solutions - Product Manager AI SaaS

• Neutrino Tech Systems - Technical Product Owner

• Productize Tech - AI Intern

Click here to browse more AI jobs in India

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