Farming: Waking the sleeping giant

TitleFarming: Waking the sleeping giant
Publication TypeNewspaper Article
Year2016
AuthorsBőgel, György
NewspaperBudapest Business Journal
Start Page10
Issue DateApril 8-21, 2016
LanguageEnglish
Abstract

Agriculture appears to be a sleeping giant for many of us. The sector is huge, but its economic significance within the economy (measured as a ratio in GDP) has been in almost continuous decline over the last 50 years. When digital capabilities are discussed, agriculture is frequently regarded as a field where one might least expect a technology revolution. Regarding ICT solutions and digital mastery, the industry is described as a beginner at best by many observers, lagging well behind others.
Our sleeping giant faces new challenges. Due to dramatic world population trends and the rise of a new middle class, demand for agricultural products is continuously growing. It is highly probable that we will need to grow 50-100% more food within a few decades to meet the needs of a world of more than 9 billion people and the emerging (mainly urban) middle class. A widening gap between supply and demand may lead to political unrest if left unaddressed. Obtaining bigger yields with limited resources and without destroying the natural environment, exploiting soil, polluting air and water is a challenge everywhere in the world.

Publisher linkwww.bbj.hu