The COVID-19 pandemic has introduced dynamic changes for global agriculture. As the sector
recovers from disrupted patterns of food consumption, impacted labor supply, and disrupted
transportation across national borders; heat, droughts, and floods continue to add to producers’
concerns. Moreover, price fluctuations due to international market conditions are creating
uncertainty in futures markets that are of great concern to farmers hedging prices.
To cope with uncertainties, the agriculture industry is looking to precision farming technology.
It promises to improve efficiency operations in the field as well as integration with agribusinesses
concerned with purchasing, storage, transportation, and processing. One study reported that
those adopting precision farming increased crop production by 11 percent while lowering input
expenses by 9 percent on average.
However, as is so often the case across most industries, efficiency gains from new technology
comes at a price with increased vulnerability to cybercrime topping the list.
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