As the world’s population grows, so does the need for sustainable farming. According to the United Nations’ Department of Economic and Social Affairs, the world’s population is projected to be at 9.7 billion by 2050. Meanwhile, the surface of the Earth is not growing, and therefore, farmers are under enormous pressure to produce successful crops quickly. The good news is, researchers believe that food is not lacking; it is often just poorly managed. There are a number of solutions that improve the way agriculture is managed in order to keep up with the growing demand for food and commodities.
What is the magic factor that ensures the balance between increased crop production and preserving the environment? Technology.
Technological advancements in agriculture are not only helpful, they’re necessary. Without the development of agritech and digitalized farming, the industry will never be able to keep up with product demand. The need for precision agriculture is greater than ever, and the ability to measure and control farming with accuracy is no longer a luxury, but an essential resource. Technological innovations such as GPS guidance, control systems, sensors, robotics, drones, GPS-based soil sampling and secure trading software make the entire process precise and reliable.
Technology has typically advanced in tandem with the economy, simply for the reason that technology is an effective method of adjusting to economic change and meeting arising needs. Embracing technological innovation requires short-term investment, but yields long-term solutions.
Development economist, Vernon W. Ruttan suggests, “The ability of a society to achieve rapid growth in agricultural productivity and output seems to hinge on its ability to make efficient choices among alternative paths.”
Here at The Seam, we believe that investing in agritech innovation is the key to a sustainable future. By providing our customers and colleagues with secure technology, and educating them in the functionality and long-term results of agritech, we aim to build a foundation of commodities trading that creates efficient solutions.
Not only does agritech innovation improve production rates and crop quality to merely keep up with the growing population, but it also provides opportunities for more people to work in the industry, through coopetition. Thanks to agritech innovation and integration, businesses are now dependent on one another to succeed, by establishing an industry standard together.
Population growth adds undeniable pressure to the agriculture industry. However, the solution is not as far off as we may think. The economic benefits of agritech innovation far outweigh the costs. From increasing crop production and quality, to providing work opportunities in the industry, and ultimately, cultivating success for more people, agritech innovation is the future.