Agriculture Leaders Struggle with Tech Anxiety: A Growing Concern

Artificial intelligence (AI) and machine learning have become increasingly important in the digital transformation of various industries, including agriculture. A recent study conducted by global digital transformation consultancy, Kin + Carta, reveals that nearly half (43 percent) of agricultural business leaders see AI and machine learning as key drivers for the sector’s digital transformation. However, the same study also highlights concerns among these leaders, with 41 percent attributing their “tech anxiety” to a lack of funding.

The term “tech anxiety” refers to the feeling experienced by senior leaders due to the rapid pace of technological advancements that raise concerns about how their businesses operate. The research shows that disruptive technologies like AI and machine learning generate the highest level of anxiety among agricultural leaders. Specifically, 27 percent cite AI and machine learning as their biggest concern, while 24 percent are worried about sustainability strategy and tracking.

These findings are part of Kin + Carta’s broader report titled “Technology Leadership Priorities for 2024: Leading through Technology Anxiety in Agribusiness.” The report is based on insights gathered from 800 senior business leaders in the United States and the United Kingdom. The sample consisted of executives and decision-makers in organizations with a turnover exceeding £800 million or $1 billion in revenue.

Given their transformative potential in addressing major sustainability challenges faced by the agricultural sector, senior business leaders recognize the importance of implementing AI and machine learning correctly. As a result, 92 percent of agricultural businesses plan to invest in data over the next year to aid strategic decision-making processes related to these implementations.

Richard Neish, Global Strategy Director at Kin + Carta, emphasizes that agriculture is at the forefront of innovation as farmers turn to AI and machine learning solutions to reduce production risks. He acknowledges that change can evoke mixed feelings among industry players but stresses the need for investment in the right areas to make a significant impact. Neish further adds that digital transformation may seem daunting, but it also presents exciting possibilities. Investing in strategic data can help agricultural leaders leverage new capabilities while mitigating risks.

The full report provides comprehensive insights into the priorities and concerns of senior business leaders in the agriculture sector. The study underscores the significance of funding for AI development and highlights the role of technology in shaping the future of agriculture.

It is alleged to be, agricultural leaders are aware of the need for financial support to drive AI advancements in their industry. As disruptive technologies continue to reshape various sectors, it is crucial for stakeholders to address funding gaps and provide adequate resources for innovation and digital transformation in agriculture.

EDITOR’S TAKE:

It is no secret that AI is advancing rapidly and will change many aspects of our day-to-day life. We have previously reported in this AIR, some of the early developments involving AI in the agricultural sector. However, this article focuses on the concern and anxiety being caused by FOMO (fear of missing out) on the part of ag leaders. Agriculture has always been friendly to innovative technologies. At the same time, the ag industry has always had a heavy dependence on public/private partnerships to help research and develop those technologies. This will likely be the case with AI. Land Grant Universities in each state coupled with private sector funding and involvement will serve as a model for the required R&D. But never underestimate the willingness and eager adoption once the R&D phase is validated by field demonstrations. Agriculture is strong today and it will remain strong thanks to leaders who are concerned about its future!