South Korea's government has decided to move forward with the establishment of a "National Agricultural AX Platform," including private sector-led artificial intelligence (AI) farming solutions and leading smart farm models. To allow the private sector to fully leverage its technology, capital, and expertise, it plans to move away from the existing government-led subsidy approach and establish a special purpose company (SPC) through joint public-private equity investment.
The Ministry of Agriculture, Food and Rural Affairs announced this "Plan to Promote the National Agricultural AX Platform" at the Economic Ministers' Meeting on February 4.
An official from the Ministry of Agriculture, Food and Rural Affairs explained, "We are pursuing the establishment of the National Agricultural AX Platform to create an environment in which anyone can manage agriculture easily and professionally by utilizing AI and robots," adding, "The government intends to serve as a catalyst by creating a business model that can secure both the profitability and public nature of the SPC, so that world-class private AI technology can be applied to agriculture."
The National Agricultural AX Platform will largely cover agricultural industry services and smart farms. In agricultural industry services, the goal is to develop and disseminate ultra-precision AI models, such as optimal growth algorithms that can be scaled up to general farms, and to realize customized farming management based on AI and robots tailored to each farm's level.
Read more at The Asia Business Daily
