The farm is moving into a new technology era and investors are taking note.
United States farmers, driven by the need for higher yields, are embracing technology that does everything from analyzing data to harvesting crops, according to CNBC.
Robots and modern technology solve many problems for today's farmer.
Because of provisions in the 2014 Agriculture Act that call for increased reporting of data on government programs and crop insurance, farmers are learning and installing technology that records and reports analytics. As the new immigration mandates impact farm workers, the use of machines in the field are expected to increase dramatically.
But while those are two examples of major advances in the industry, there are many new facets to the use of technology on the farm. Investment firms are all in - they've invested in everything from drones that fly over the fields to record and disseminate data on fertilizer distribution, to software that helps farmers manage their crops and their businesses.
Billions of dollars in venture capital money has been invested in farm agriculture technologies since the late 1980s in anticipation of precision farming. Investment firms have also placed billions in plant genetics, and weather and logistical software.
Monsanto has emerged as the leader in the farming tech field as the corporation strategically repositioned itself from a chemical company, once known for its distribution of DDT, to a biotech research and agriculture giant. The company introduced its Round-up Ready soybean in 1996 - a soybean that is resistant to pesticides and is the current product of its biotechnology research.
Monsanto bought several hardware and software makers, including Precision Planting, that helps farmers accurately plant seeds; it also purchased Climate Corporation which forecasts the weather for planting.
"I think the influence of crop insurance and sustainability is really going to push digital agriculture rapidly forward in the U.S.," said John Fulton, associate professor in the Department of Food, Agricultural and Biological engineering at Ohio State University. He spoke at the annual meeting of the Mississippi Agricultural Economics Association, the Delta Farm Press reported.
Fulton said that seed technology is the key part of today's agricultural technology.
"It's the major part of the cost of a bag of seed. On average, the cost of seed for corn is $125 per acre, of which $100 is for the technology in that seed."
Sophisticated machinery will play a role in the data being generated.
Aerial drones and unmanned ground vehicles are becoming more and more common on farms, helping owners to reap profits and ensure precision practices, according to The Robot Report.
Robots are not solely used for planting. Robotics are also involved in milking cows, picking lettuce, pruning vines and driving tractors, HNGN previously reported.
