Cooperative Ventures Backs Precision AI to Boost Sustainable Farming with Drone Technology
The investing partner of farmer-owned cooperatives CHS and GROWMARK (Cooperative Ventures) has announced an investment in Precision AI, a Canada-based startup, as reported by Crop Life. The specialization of this investment would be AI-powered drones, aiming to achieve precision in agriculture. The collaboration is expected to enhance crop production and increase the efficiency of farmers living in North America.
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AI-Powered Drone Technology
Technology is rich in utilizing computer vision and machine learning to detect insects and weeds at the plant level, helping farmers to get along with more sustainable farming instead of relying just on chemicals. The drones are self-equipped and don’t require remote internet connectivity for operation. The operation makes them suitable for various farming environments.
Winning the Innovation Challenge
Precision AI emerged as the winner of the Cooperative Ventures Innovation Challenge at the World Agri-Tech Innovation Summit in San Francisco. The company won against 100 other global entries; the approach was deemed very innovative, and field data was used to provide farmers with different insights on how they can enhance their farming practices.
Strategic Collaboration
With the help of such an investment, Precision AI is expected to gain better access to the technical experience of CHS and GROWMARK. It is also likely to provide better customer insights and better support for pilot programs and in-field trials. The collaboration also aims to provide better solutions and adopt AI-driven hypotheses in agriculture, which would further benefit cooperative members and farmers.
Future Prospects
Such a partnership between the two firms, Cooperative Ventures, and Precision AI, helps one understand how well the technology is functioning in terms of farming practices. The combination of AI innovation and cooperative support can help increase agricultural productivity, sustainability, and profitability.
