Three-quarters of US AG Businesses Increase 2020 Investment in AI

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Three in 4 – 76% – of US agriculture companies have upped their spend on AI applied sciences in gentle of the pandemic, based on new analysis.

Agriculture was second solely to the insurance coverage trade, which reported a slightly increased funding stage of 78%, and of the eight sectors canvassed, agriculture spent probably the most on AI coaching.

The findings come from the most recent annual 2020 RELX Emerging Tech Study, carried out by Proagrica mum or dad RELX by means of IPSOS Mori. The third annual cross-sector research canvassed greater than 1,000 senior executives in the US on their funding, perspective, and predictions on AI applied sciences.

Key insights embrace:

  • 81% of all execs surveyed say AI applied sciences are being utilized inside their enterprise – an general rise of 33% on 2018 and up 9 per cent on 2019
  • The tempo of AI adoption throughout all segments has accelerated for the third consecutive 12 months. 
  • AI adoption in agriculture dropped from 84% in 2019 to 74% this 12 months.
  • 91% of ag respondents imagine moral issues are a strategic precedence in the design and implementation of their AI programs 

“Our research shows that not only is ag investing more in AI than segments such as healthcare and government – it also rates ethical considerations more highly than both,” mentioned Anthony DeNome, Proagrica’s VP of gross sales, Americas. “There is a concern among ag respondents that other countries are becoming more advanced than the US in the fields of AI development and implementation – some 83% of ag execs reported feeling this way, and we may have seen the number of ag businesses using AI fall slightly year-on-year. But the value realised by those that are getting it right is immediately apparent, especially in light of the pandemic.”

In phrases of how the know-how is getting used, 79% of ag execs report AI is getting used to extend efficiencies/employee productiveness. Of all of the sectors coated, agriculture is utilizing AI to exchange human labor least usually – at 21% in comparison with a cross-segment common of 26%. 

The commonest use case for AI in agriculture is at present in the HR division, almost three-quarters (71%) say AI applied sciences are boosting the general effectivity of the recruitment course of. 60% report AI is probably to impression hiring by growing the equity of the appliance/interview part. 

“There’s a broad consensus across the sector that emerging technologies are helping the ag sector to be more competitive,” added DeNome. “AI is a case in point and we’re already seeing the benefits. This is a great start and the tech has the potential to do so much more in driving overall operational efficiencies, capabilities and pace.” 

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