The agriculture industry now is experiencing rapid growth and adopting advanced technologies in order to bolster the overall yield of the crops. Accessibility of a large number of equipment and state-of-the-art technologies like intelligent monitoring system, drones, robots, among others has totally revolutionized this sector. Artificial Intelligence is one such vital technology in today's digital agriculture that is being implemented and deployed on a large scale for more sustainable use of available resources. In 2017, the global market for artificial intelligence in agriculture was valued at around US$ 545 million, which is now increased and predicted to reach nearly US$ 2,075 million by 2024. The market will rise at a growing CAGR of 21% throughout the forecast period.
Recently we have discussed the emerging concept of smart farming that makes agriculture more efficient and effective with the help of high-precision algorithms. The mechanism that drives it is Machine Learning -- the scientific field that gives machines the ability to learn without being strictly programmed. It has emerged together with big data technologies and high-performance computing to create new opportunities to unravel, quantify, and understand data intensive processes in agricultural operational environments. Machine learning is everywhere throughout the whole growing and harvesting cycle. It begins with a seed being planted in the soil -- from the soil preparation, seeds breeding and water feed measurement -- and it ends when robots pick up the harvest determining the ripeness with the help of computer vision.
Old days of hard and not always profitable human labor is over, Smart Farming powered by Machine Learning with its high-precision algorithms is a new concept emerging today. Aiming to increase the quantity and quality of products, this cutting-edge movement makes sustainable productivity growth for everyone working in the agriculture realm. Farming goes digital and now we are observing 4th Agricultural Revolution. Everyday machines learn to solve complicated tasks, and they are doing it better with time. So, what is Machine learning applications in farming today and why should farmers care?
From cultivation to improving harvesting quality, AI is known as one of the main elements for a surplus yield but that too for the ones who are capable enough to make use of it. Agriculture is seeing rapid adoption of Artificial Intelligence and Machine Learning, both in terms of agricultural products and in field farming techniques. Apart from that, most of the countries are looking forward to involving such techniques. In 2016, the estimated value added by the agricultural industry was estimated at just under 1% of the US GDP. The US Environmental Protection Agency, estimates that agriculture contributes roughly $330 billion in annual revenue to the economy, thus such techniques would definitely speed things up.
Artificial intelligence belongs to the development of computer systems able to act as the human mind, such as visual perception, speech recognition, decision making, and translation between the languages. The predictions are made that the global population will reach about10 billion people in 2050, enhanced agriculture production to meet the food demands in need of the hour which is about the 70% increase in food production. Farm enterprise needs new and advanced technologies to overcome these challenges. By using artificial intelligence we can overcome these demands. Just imagine what will happen if the farm is under the control of such machinery which acts like humans and store information like human accurately and efficiently.