IMF highlights AI's role in agriculture, driving the global agritech market to $49.2B by 2031.
The IMF emphasizes the need for efficiency in agriculture as food production rapidly evolves. AI is revolutionizing the sector, developing new crop varieties, providing soil data, and using precision drones for fertilizers and pesticides. Agritech innovations accelerate, driving the global agritech market from $24.4B in 2023 to $49.2B by 2031 at a 12.33% CAGR, fueled by AI, IoT, and biotech applications.
May 17, 2024
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