World Economic Forum: Technology’s Role in Transforming Agriculture for Food Security in Emerging Economies

The World Economic Forum has released a report highlighting the role of technology in shaping agriculture in emerging economies for food security. The report, titled “Agritech: Shaping Agriculture in Emerging Economies, Today and Tomorrow,” emphasizes the integration of Fourth Industrial Revolution technologies in the agriculture sector.

According to the report, governments and the private sector need to scale solutions and ensure that technology transformation is inclusive. Sebastian Buckup, Head of Network and Partnership at the World Economic Forum, stated that emerging economies must create a common vision for an agritech ecosystem shared by all stakeholders.

The report identifies technologies such as augmented reality, artificial intelligence for weather prediction, traceability, smart logistics solutions, and the internet of things as promising solutions to reduce information gaps and empower farmers to manage challenges. These technologies are crucial for growing an additional 70% of food for 9.1 billion people by 2050.

However, the report also highlights challenges such as climate change, natural disasters, and soil degradation that threaten food production globally. Srinivasan Krishnan, Chairperson of PwC India, emphasized the transformative capabilities of agritech in empowering farmers to navigate climate shifts and protect natural resources.

Krishnan stressed the importance of fostering public-private partnerships that are scalable and adaptable to each country’s unique context for widespread success and sustainable impact. The report underscores the need for stakeholders in the agriculture sector to become more knowledgeable to make informed decisions in addressing these challenges.