by Dr. Dave Kohl, Professor Emeritus, Virginia Tech University as it appeared in Farm Futures magazine
Let’s take a longer-term view and discuss some of the megatrends impacting the agriculture industry. The book “Megatrends” was written by John Naisbitt and was required reading in Graduate School at Cornell University. Despite being written decades ago, it is still very relevant for strategic planning.
Regenerative agriculture
Regenerative agriculture, with an emphasis on soil and water health, will be a focus in the decades to come.
Data โ Organized information
Turning data into organized information will be another competitive edge. Whether it is transparency, linking production and distribution to the consumer and marketplace, or feedback and alignment to society initiatives, moving from complexity to simplicity will be the key.
Artificial intelligence (AI)
Artificial intelligence (AI) will have both its ups and downs. There is no doubt that it will eliminate administrative paperwork tasks and some white-collar jobs. As the human IQ equivalent of AI exceeds 1,000 by 2028, it will be used across the spectrum of marketing, finance, operations, and planning.
Next generation
The next generation of agriculture is on board with the technology, innovativeness, and the energy to accelerate the agriculture industry. With that being said, they will face extreme economic volatility and rapid changes in the marketplace.
Women in agriculture
The next two decades in the agriculture industry will be moved by women. First, women outlive men on average by five to seven years and will inherit many of the farm assets. However, you are going to see more women owners and managers of agricultural businesses in many regions of the country as well.
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