HOW WILL ARTIFICIAL INTELLIGENCE (AI) DISRUPT THE FARMING INDUSTRY?

As the world becomes increasingly reliant on technology, the agricultural industry is no exception. With the help of artificial intelligence (AI), farmers are finding new ways to increase productivity, reduce costs, and improve efficiency. However, as with any technological advancement, AI is also impacting the job market and the future of work in the agricultural sector.

For those of us who are unfamiliar with AI and ChatGPT…Artificial intelligence, or AI for short, is a field of computer science that focuses on creating machines that can perform tasks that typically require human intelligence, such as understanding natural language, recognizing images, or making decisions based on data. When you hear AI you may think of robots in movies such as The Terminator or The Matrix, which is an extreme dystopian example of AI.

In reality, AI as it exists today, is much less dramatic and more practical. ChatGPT is a specific type of AI that uses advanced algorithms and machine learning to generate human-like responses to text-based inputs, such as questions or statements. You have likely used a remedial form of this anytime you have used a Help Chat box on a website or called your bank on the phone.

Another way to think of AI in its current form is it is like a having a personal assistant that has access to every data point known to man and it can recall data on every subject in a matter of seconds. It can write anything you ask it from a poem about any subject in any style to complex computer code in any language. It can write books, movie scripts, paint pictures and graphics, and create video content. The use cases and potential are endless and quite frightening.

While AI has the potential to improve productivity and efficiency in many industries, it’s also important to consider the potential impact on job markets. According to some estimates, AI and automation could displace up to 800 million jobs globally by 2030.

Some of the jobs most at risk include those that involve routine or repetitive tasks, such as data entry, manufacturing, and customer service. At the same time, there may be new opportunities emerging in industries that are less reliant on AI, such as healthcare, education, and agriculture.

30 Occupations Most Likely to be Disrupted or Replaced by Artificial Intelligence:

1. Data Entry Clerk
2. Telemarketer
3. Receptionist
4. Retail Salesperson
5. Cashier
6. Bookkeeping Clerk
7. Courier
8. Dispatcher
9. Proofreader
10. Tax Preparer
11. Loan Officer
12. Travel Agent
13. Order Clerk
14. Bank Teller
15. Insurance Underwriter
16. Meter Reader
17. Financial Analyst
18. Medical Coder
19. Library Technician
20. Claims Adjuster
21. Payroll Clerk
22. Insurance Appraiser
23. Title Examiner
24. Procurement Clerk
25. Customer Service Representative
26. Paralegal
27. Data Analyst
28. Graphic Designer
29. Market Research Analyst
30. Technical Writer

Source ChatGPT

Occupations Least Likely to be Replaced or Disrupted by AI:

1. Registered Nurse
2. Dentist
3. Physician Assistant
4. Physical Therapist
5. Occupational Therapist
6. Surgeon
7. Speech-Language Pathologist
8. Psychologist
9. Veterinarian
10. Optometrist
11. Postsecondary Teacher
12. Healthcare Social Worker
13. Mental Health Counselor
14. Social and Community Service Manager
15. Athletic Trainer
16. Recreation Worker
17. Dietitian and Nutritionist
18. Audiologist
19. First-Line Supervisor of Mechanics, Installers, and Repairers
20. First-Line Supervisor of Firefighters
21. First-Line Supervisor of Police and Detectives
22. First-Line Supervisor of Correctional Officers
23. Electrician
24. Plumber
25. Construction Manager
26. Industrial Machinery Mechanic
27. Carpenter
28. Heating, Air Conditioning, and Refrigeration Mechanic
29. Commercial Pilot
30. Aerospace Engineer

Source ChatGPT

Agricultural-Specific Occupations Least Likely to be Replaced or Disrupted by AI:

1. Agricultural Scientist
2. Farm Manager
3. Farmworker
4. Livestock Farmer
5. Aquaculture Farmer
6. Agricultural Engineer
7. Agricultural Consultant
8. Agricultural Inspector
9. Horticulturist
10. Forestry Technician
11. Agricultural Equipment Operator
12. Soil and Water Conservationist
13. Agricultural Extension Agent
14. Pest Control Technician
15. Dairy Farmer
16. Poultry Farmer
17. Fish and Game Warden
18. Agricultural Pilot
19. Farm Equipment Mechanic
20. Agricultural Journalist
21. Farm Appraiser
22. Veterinarian
23. Food Scientist
24. Agricultural Economist
25. Animal Geneticist
26. Agricultural Education Teacher
27. Agricultural Lawyer
28. Agronomist
29. Agricultural Policy Analyst
30. Agricultural Loan Officer

Source: ChatGPT

In particular, agriculture is an industry that may see increased demand for workers as the use of AI and automation becomes more prevalent. While some aspects of farming and ranching are already highly mechanized, there are still many tasks that require human judgment and dexterity, such as monitoring crops or caring for animals. In addition, the growing demand for organic and locally grown food may create new opportunities for small-scale farmers and producers.

For job seekers looking for new opportunities, it may be worth considering industries that are less likely to be fully automated or that require human skills that are difficult to replicate with AI. In addition, there may be opportunities to work in industries that support the development and deployment of AI, such as software development, data analysis, or engineering.

AI and the Future of Work in Agriculture

As AI continues to evolve, many industries and jobs are likely to be impacted. In the agricultural sector, AI is already changing the way farmers work and jobs that are available. For example, AI-powered machines are being used to automate tasks such as planting, harvesting, and irrigation. This means that some manual labor jobs may become obsolete, while new jobs will be created in areas such as machine maintenance and programming.

In addition to changing the job market, AI is also transforming the farming industry itself. By using sensors and data analytics, farmers can now monitor crop growth and health in real-time, making it easier to optimize resources and maximize yields. This means that farms can become more efficient, sustainable, and profitable, while also reducing waste and environmental impact. There are many other potential use cases for AI in farm production when automation in vehicles and equipment becomes safer and more reliable.

How Can AI Like ChatGPT and Other Language Learning Models Help Farmers and Small Business Owners?

While AI may impact some jobs negatively, it also has the potential to greatly benefit farmers and small business owners. Here are a few examples of how AI could help with financial organization and analysis for producers and business owners:

1. Financial Planning: AI can help farmers and small business owners with financial planning by analyzing their financial data and providing recommendations for improving their financial health. For example, AI algorithms can help identify areas where costs can be reduced, such as optimizing crop yield or energy usage.
2. Loan Document Preparation: AI can streamline the loan application process by automating document preparation. For example, farmers could use AI-powered software to generate loan application documents based on their financial data, reducing the time and effort required to complete the application.
3. Tax Planning: AI can help farmers and small business owners with tax planning by analyzing their financial data and identifying tax-saving opportunities. For example, AI algorithms can analyze a farmer’s expenses and identify eligible tax deductions, such as equipment purchases or energy-efficient improvements.
4. Estate Planning: AI can assist with estate planning by analyzing financial data and providing recommendations for estate planning strategies. For example, AI algorithms can help identify the most tax-efficient ways to transfer assets to heirs or charitable organizations.

In addition to financial organization and analysis, AI can also help with risk management, such as predicting potential crop losses or assessing financial risks associated with a particular investment.

AI and the Future of Farming

While AI is undoubtedly changing the farming industry and the future of work in agriculture, it also has the potential to greatly benefit farmers and small business owners. By automating routine financial tasks and providing actionable insights, AI can help farmers and small business owners make more informed financial decisions and ultimately improve their financial health. As AI continues to evolve, it’s important for farmers and other agricultural professionals to embrace new technologies and find ways to use them to their advantage.

Disclaimer: Please note that the information provided in this article is for educational and informational purposes only, and should not be construed as financial or investment advice. While we have made every effort to ensure the accuracy and reliability of the information presented, Conterra Ag Capital and its affiliates make no representation or warranty as to the completeness, correctness, timeliness, suitability, or validity of any information contained in this article. You should always consult a qualified financial advisor, tax professional, or other qualified professional for advice on your specific financial situation.