Orchestrating digital ecosystems to transform the agriculture industry
Growing global food demand presents financial institutions with an opportunity to help the industry embrace agriculture technology such as precision agriculture, IoT, and big data, all enabled by a digital ecosystem. Improving access to finance and facilitation of long-term investment finance, along with new value-added products and services, can deliver a transformative customer experience to farmers besides unlocking exponential value for all the stakeholders.
To build a healthy ecosystem, financial institutions must initiate some important measures:
Strengthen the digital platform: Integration of various ecosystem players on a single digital platform with components such as advisory chatbots and collaborative features
Establish a data ecosystem: Leverage digital cloud technologies and the data ecosystem to identify risks better
Leverage actionable insights: Tap into AI and ML techniques to harvest valuable insights