How AI Is Transforming the Role of Agricultural Suppliers
New artificial intelligence (AI) technology is enabling agricultural retailers and farm supply cooperatives to optimize their operational performance while strengthening all-important customer relationships. In addition to broad-based AI platforms that can be leveraged to simplify everyday business operations, farm suppliers now have access to AI apps specifically designed to support field agronomy and crop production.
According to a new research brief from CoBank’s Knowledge Exchange, artificial intelligence technology offers ag retailers a new set of tools to optimize workflows, inventory management, employee performance, and other key business functions. Farm supply businesses that rise to the challenge of adopting artificial intelligence can also enhance their position as trusted advisors and essential partners in the ag supply chain.
“AI in agriculture can be utilized in a company’s back office, front office, as well as within agronomy and supply chain operations divisions,” says Jacqui Fatka, farm supply and biofuels economist with CoBank. “Early adoption and reliable partnerships will provide an advantage for those willing to test the AI landscape. Ag retailers should research companies and pick AI partners who understand agriculture and promise value beyond just lofty ROIs.”
Agricultural cooperatives and retailers serve as a critical relationship bridge between farmers and input providers. The potential erosion of those relationships due to alternative distribution models, disruptive technologies, or other competing forces is one of the biggest challenges ag retailers face moving forward. Early adoption of AI can help the ag retailer sector stay ahead of competitors while maintaining and strengthening customer relationships.
Fatka suggests ag retailers start with easy-to-implement, low-stakes AI applications for things like email and presentation assistance and customer interaction summaries before tackling more complex tasks. “Testing out different pathways to gain internal acceptance can lead to greater long-term success. For instance, an easy initial test might be recording virtual meetings with CoPilot. Within minutes, it can deliver an AI-generated summary of the meeting with key takeaways, immediate action items, and future tasks.”
For additional information, please read the original article found on the CoBank website.
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