Applications of Machine Learning For Precision Agriculture and Smart Farming

Abstract

Recent deglobalization movements have had a transformativeimpact and an increase in uncertainty on manyindustries. The advent of technology, Big Data, and MachineLearning (ML) further accelerated this disposition.Many quantitative metrics that measure the globaleconomy’s equilibrium have strong and interdependentrelationships with the agricultural supply chain and internationaltrade flows. Our research employs econometricsusing ML techniques to determine relationshipsbetween commonplace financial indices (such asthe DowJones), and the production, consumption, andpricing of global agricultural commodities. Producersand farmers can use this data to make their productionmore effective while precisely following global demand.In order to make production more efficient, producerscan implement smart farming and precision agriculturemethods using the processes proposed. It enablesthem to have a farm management system that providesreal-time data to observe, measure, and respondto variability in crops. Drones and robots can be usedfor precise crop maintenance that optimize yield returnswhile minimizing resource expenditure. We developML models which can be used in combinationwith the smart farm data to accurately predict the economicvariables relevant to the farm. To ensure the accuracyof the insights generated by the models, ML assuranceis deployed to evaluate algorithmic trust.