Global agri-tech giant Syngenta harnesses AI to narrow digital gap in farming

Syngenta Group is deploying artificial intelligence (AI) and advanced agricultural technology to help farmers overcome volatility and bridge the digital divide, said the company's Chief Information and Digital Officer Feroz Sheikh.

Speaking to China Global Television Network (CGTN), Sheikh explained that volatility in farming stems from factors such as weather, geopolitical issues, and commodity prices, creating significant challenges for farmers. He said the company is addressing this by developing predictive algorithms to help farmers anticipate changes in prices and weather, enabling better decision-making.

"I would say, the other important factor is essentially access to the technology. And small farmers, but in particular in countries like China or other Asian countries, for them to be able to really get access to that technology. What you can describe it as a digital divide. And that's where we believe that data and AI can start to help bridge that divide," said Sheikh.

Sheikh likened agricultural advancement to a jigsaw puzzle, noting that while significant progress has been made in chemistry, genetics, and machinery, data and AI are the final crucial pieces that help farmers make precise decisions.

"In fact, if you think of it as a jigsaw puzzle, over the last few decades, we have seen major advancements in new chemistry, new genetics, and machinery on the farm. The final piece of that jigsaws puzzle is data and AI. With data, we can help farmers make better decisions. Those decisions could be related to applying the products and the machines that can spray it with precision. So that final piece of that jigsaw puzzle is really the key, in my opinion. So, when it comes to Agri-Tech, it's about putting the final piece of puzzle in it," he said.

As a wholly-owned subsidiary of ChemChina, the Switzerland-headquartered agricultural technology company's businesses span seeds, crop protection, plant nutrition and digital agriculture, focusing on improving farm productivity and advancing sustainable agricultural practices.

Global agri-tech giant Syngenta harnesses AI to narrow digital gap in farming

U.S. stocks closed mixed on Friday as investors weighed a favorable cooling in consumer inflation against the artificial intelligence (AI) anxieties.

The Dow Jones Industrial Average edged up 0.1 percent to 49,500.93. The Standard and Poor's 500 rose 0.05 percent to 6,836.17, while the Nasdaq Composite Index shed 0.22 percent to 22,546.67.

Data released by the U.S. Bureau of Labor Statistics offered some optimism for the Federal Reserve's disinflationary efforts.

The consumer price index rose 0.2 percent month on month in January, bringing the annual inflation rate down to 2.4 percent, the slowest pace of increase since May. Core inflation, which excludes food and energy costs, fell to 2.5 percent year over year.

Major tech leaders, including Nvidia, Apple, Alphabet and Meta, recorded losses exceeding 1 percent as investors reassessed valuations amid fears that new generative tools could soon render certain white-collar functions obsolete.

On the corporate earnings front, Coinbase soared 16.46 percent as the company reported improved subscription and service revenue despite recent volatility in the digital asset market.

In the bond market, the yield on the 10-year U.S. Treasury bond eased to 4.05 percent as the market balanced positive inflation progress against broader economic uncertainty.

U.S. stocks close mixed amid cooler inflation data