Smart Agriculture, Data and AI in in the Context of Cobit 2019: Analysis of Potential and Risks

Veljko Dmitrović, Mladen Petrović and Nemanja Jakovljević

Western Balkan Journal of Agricultural Economics and Rural Development (WBJAERD), 2024, vol. 6, issue 2

Abstract: Modern agriculture, which is becoming an increasingly interesting topic in scientific circles, has been commonly linked to widely widespread application in practice. Actually, it represents a comprehensive integration of smart solutions in agriculture, dominantly driven by progress in data analysis and artificial intelligence, and as such represents a direct and unambiguous significant shift in modern agricultural structures. The aim of the paper is to consider the potential benefits and associated risks in the implementation of smart agriculture. By presenting the essential elements of smart agriculture, and above all the decisionmaking process with the application of artificial intelligence and large-scale data management, the paper aims to provide a balanced perspective on how these technologies can improve business success in agriculture. At the same time, the subject of the work is consideration of the challenges of managing information technologies in smart agriculture. The results of the work provide a significant contribution to risk management using the various possibilities of smart agriculture. Derived conclusion shows that the main risks in new technologies use in agriculture in many countries is insufficient knowledge towards technology and high costs of its use, while its greatest potential is increasing the incomes with the less engagement of human factor.

Keywords: Agricultural and Food Policy; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iepwbj:348013

DOI: 10.22004/ag.econ.348013

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