According to the report Agriculture 4.0 – The Future Of Farming Technology, the agriculture industry is facing four key challenges when meeting the demands of the future.
A report titled Agriculture 4.0 – The Future Of Farming Technology, launched at the World Government Summit, highlights that demographics, scarcity of natural resources, climate change and food waste are the main changes that the agricultural industry faces when meeting the demands of the future.
In collaboration with Oliver Wyman, the World Government Summit report states that even though demand is continuously growing, by 2050 we will need to produce 70% more food. Unfortunately, the increasing demand for food coincides with agriculture’s share of global GDP shrinking to just 3 percent, one-third its contribution just decades ago.
According to Oliver Wyman, roughly 800 million people worldwide are suffering from a limited food supply and a predicted 650 million will be undernourished in 2030. In order to meet these challenges, there needs to be great investment from governments and research bodies to create agricultural technologies for tackling these issues.
How will Agriculture 4.0 impact the future?
The report states that Agriculture 4.0 will no longer depend on applying water, fertilizers, and pesticides uniformly across entire fields. In place of these farmers will use the minimum quantities required and target very specific areas.
The report states that: “Agriculture 4.0 the coming agricultural revolution, must be a green one, with science at technology at its heart.
“Agriculture 4.0 will need to look at both the demand side and value chain/supply side of the food-scarcity equation. Using technology not simply for the sake of innovation but to improve and address the real needs of consumers and reengineer the value chain.
“Modern farms and agricultural operations will work differently, primarily because of advancements in technology, including sensors, devices, machines and information technology.”