Pakistan’s leading Agritech Startup Farmdar has launched a new fintech venture AgromAI in Brazil which will utilize artificial intelligence (AI) and geospatial data to provide financial services.
“Pakistani technology will be used by some of the largest businesses in the world, and with more developed markets as a stomping ground” stated Muzaffar Manghi, co-founder of Farmdar while talking exclusively to ProPakistani.
He added that Latin America is under severe climate change impact with evolving temperature and rainfall patterns which increase the risk for insurers and AgromAI will mitigate it and prepare agribusinesses to respond to these risks.
He also said that this improved tech will benefit Pakistan as well and the knowledge exchange will work both ways.
Brazil is the third-largest exporter of agricultural products after European Union and United States. It contributes significantly to global food production, with total agricultural production valued at $170+ billion, while crop insurance alone accounts for $9+ billion annually.
By leveraging advanced algorithms and cutting-edge technology, we will provide financial institutions and insurers with highly accurate, individual farm-level intelligence. This enables optimized credit and insurance risk management.
This enables optimized credit and insurance risk management, paving the way for enhanced productivity, profitability, and sustainability in the agricultural sector.
“We are extremely proud to export our artificial intelligence and data-backed products developed solely by Pakistani engineers,” stated Farmdar in its official release. This is a testament to the innovation of Pakistani talent and their potential to make a contribution to the global agritech industry, it added.
Farmdar should speak the truth!
They don’t make the cutting-edge AI technology, and all their claims about the sophisticated algorithms and them built their very own agro-intelligence platform are blatant lies.
They act as a middle man. They use global satellite-data company’s intelligence platform to get all the data and sell it at a higher price to make profits.
If that was the case would’nt everyone be doing that? kindly please research your facts before posting comments.