Emmetts Blog

Artificial Intelligence (AI) applied to on farm decision making.

Rather than plagiarize this article about Artificial Intelligence from the Harvard Business Review, I will provide the link which is worth the read. How AI Will Change the Way We Make Decisions https://hbr.org/2017/07/how-ai-will-change-the-way-we-make-decisions

As you read it, think of the on farm management decisions that could be made if artificial intelligence were developed, proven and could be directly applied to your business. My immediate thoughts were grain trading, pasture calculations (days of feed), stocking rates, fertilizer purchasing, and currency hedging.

To backtrack, the definition of artificial intelligence "is the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages."

The next level of AI is machine learning, defined as "a method of data analysis that automates analytical model building. Using algorithms that iteratively learn from data, machine learning allows computers to find hidden insights without being explicitly programmed where to look."

With these system built for the objective of commodities trading, with all decision making parameters set by the programmers, there may come a time when the computer program asks for your final sign off and human judgment on commodity trades, stock movement recommendations etc.  in real time, with the financial benefits already calculated. 

Something to think about...

machinelearning.jpg

References:

Definition of artificial intelligence from:https://www.google.com.au/search?q=What+is+artificial+intellegence&rlz=1C1CHZL_enAU744AU744&oq=What+is+artificial+intellegence&aqs=chrome..69i57j0l5.8477j0j8&sourceid=chrome&ie=UTF-8

Definition of machine learning from:https://www.google.com.au/search?rlz=1C1CHZL_enAU744AU744&q=What+is+machine+learning&oq=What+is+machine+learning&gs_l=psy-ab.3..0l4.85442.89100.0.89340.18.14.0.0.0.0.351.1828.2-4j3.7.0....0...1.1.64.psy-ab..11.7.1826...0i131k1.eHVuEBfFQ7U

Image sourced from: https://goo.gl/images/3pYDXy

 

Topics: Technology, Industry News

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