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Despite their familiarity with automated systems, precision agriculture, and AI through their smart phones and online applications, many producers remain undecided about integrating Artificial Intelligence into their operations. While some believe it’s only for large farms and big business, others have concerns around operational implementation and the overall benefits.
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AI isn’t just on the horizon for agriculture; it’s making significant strides across various industries. However, in Canadian agriculture, adoption has been slower compared to other sectors**. Currently, only a small fraction of agricultural businesses are leveraging AI technology. This presents a unique opportunity for those willing to embrace these advancements to gain a competitive edge. With AI capabilities becoming more accessible and advanced, integrating these technologies into your business plan could be a game-changer.
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What is AI and how can it help your operation?
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Simply put, AI enables machines to think (perceive, interact, learn, reason and solve complex problems). The big advantage of AI is its ability to instantaneously analyze large amounts of data to find correlations and patterns, then use these patterns to make predictions and propose solutions.
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Because farming is a data-driven industry that seeks to maximize productivity and profitability, AI has found a perfect fit with producers looking to:
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- Streamline processes
- Enhance data analysis
- Improve data processing and accounting
- Conduct cost optimization analysis
- Access powerful research tools
- Create business plans
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AI isn't just a future concept in agriculture; it's here now. Smaller to mid-sized farms, where a single producer makes most decisions, can benefit greatly. AI can handle basic tasks, freeing up time for more critical activities.
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How can you get started with AI?
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Testing AI is easy and accessible. Start with a free AI program like ChatGPT. From there, it’s a matter of experimenting with the application to test its capabilities.
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Try prompting the program to help you create a crop rotation plan, design a maintenance schedule for your tractor or suggest strategies for improving your operation's sustainability. Don't worry if you don't get perfect results immediately. It's like conversing with a person – you go back and forth, refining your questions until you get the desired output.
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Then once you get the hang of it and learn how to prompt effectively, you can start getting more specific. Once you get to this point, it’s more about making sure you’ve clearly defined your goals and parameters. Not only is it easier than you might think, it’s definitely worth the effort.
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*This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.
®/™Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
RBC Royal Bank | Royal Bank of Canada l RBC Waterpark Place, 88 Queens Quay West, 12th Floor, Toronto, ON, M5J 0B8, Canada | www.rbcroyalbank.com
**Source: Analysis on artificial intelligence use by businesses in Canada, second quarter of 2024 (Stats Canada, 2024)
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