Revolutionizing AgriTech: Unleashing the Power of Artificial Intelligence (AI) and Data Analytics
I am writing a “Whitepaper” that explains how we can unleash the power of AI+IoT (combined) and data analytics to develop a centralized platform where Agricultural stakeholders can fetch data, connect business deals, and sell/buy/market their products.
ABSTRACT
This whitepaper delves into farmers’ challenges in current market dynamics by exploring the transformative potential of data analytics and artificial intelligence in the agricultural sector. By presenting a solution that empowers farmers with direct access to market updates and transparent pricing, it unveils a future of AgriTech innovation. Ultimately, farmers can gain strategic insights through predictive analytics to optimize their planting, storage, selling, and harvesting decisions. The goal is to create a platform to reshape the agriculture industry and unlock new growth opportunities.
Overview
The dynamics of various markets, including Forex, Crypto, NFTs, and Stocks, are primarily influenced by the interplay between supply and demand. Carefully observing these markets reveals that this fundamental economic principle largely determines prices. However, the impact of data flow on the price factor in agriculture is a significant consideration. In this scenario, it is observed that the selling price of products varies between farmers in different counties. Specifically, a farmer in County A sells their produce at 30 shillings per Kg, whereas a farmer in County B sells their produce at 50 shillings per Kg. Something manipulates supply and demand in different regions, and perhaps, different regions have different “markets” and “supply,” hence different prices — however, centralized control is necessary if farmers have to establish profitable Direct-to-Consumer (D2C) business models.
Generally, this paper discusses the issue of brokers manipulating prices through extreme brokerage and the “buy cheap, sell high” technique. The impact of these practices on the market and the potential consequences for all stakeholders in the agricultural sector — Farmers (as producers), different on-and-off market consumers, Agri-insurance companies, and many more. The paper will examine the evidence and analyze the implications, seeking to understand the SWOT analysis of the issue and offer insights into possible solutions comprehensively.
Lastly, the paper will discuss the advent of Direct-to-Consumer (D2C) Models in Kenya and rapid changes in the market. Lastly, the paper will introduce the emergence of data analytics has the potential to introduce a new form of disruption that may not be readily apparent to the market.
Coming up, next.
Project Rationale <<
