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Stakeholders all over the European Union (EU), including academics, local and national authorities, business representatives, civil society, and the EU institutions are interested in creating a better life for citizens inhabiting rural areas. Building up on previous successful policies, including for instance the Common Agricultural Policy (CAP) and political actions, such as those outlined in the Cork 2.0 Declaration, these stakeholders assessed the current and future challenges of EU rural areas. The EU agri-food sector is not only the backbone of the EU rural areas but it is also a driver of the EU economy, that is, delivering 44 million jobs in the EU and representing 3.7% of EU GDP. The EU is thus the world’s number one exporter of agricultural and food products amounting to 138 billion, in 2017.

Today, the technological progress and the digital economy are transforming the EU economy in a way and speed never seen before; agriculture and food production are no exception. Obviously, the agriculture and the food production activities may have less obvious significance to the smart city but are key in the smart village concept. The ongoing technological transformation of agriculture will certainly enable and influence the design and implementation of any concept of smart villages. The question is therefore complex: How can agriculture and food production contribute and influence the smart villages concept and related policy strategies? This chapter dwells on this issue.

The purpose of this paper is to identify, present and compare agricultural production financing alternatives available to grain producers in South Africa. From the South African perspective, agricultural land cannot always be utilised as collateral and therefore alternative financing has developed.

The study makes use of an exploratory study by applying qualitative techniques. The research population was agricultural finance providers in South Africa and semi‐structured interviews were conducted with representatives of the sample.

The production financing alternatives identified and presented include: grain contract financing; grain contract financing with additional collateral; and corporate farming. A comparison of these alternatives indicates that although the traditional balance sheet financing is a cheaper form of financing, using agricultural land as collateral has a number of limitations, especially within the South African context.

Using agricultural land as collateral to obtain production financing is not always viable considering the present South African agricultural environment. Commercial grain producers should therefore consider the identified alternative production financing.

Limited research on agricultural production finance from the South African perspective has been performed. Furthermore, no previous research on identifying production financing alternatives without utilising agricultural land as collateral has been performed. This paper therefore provides new knowledge by combining South African practice with theory.

Supply of food from the early stages of societies was one of the most important needs of humans. Sustainable supply of food is a demand in modern societies. The agri-food market grows as the population rises every year. The increase in the demand side of the market is more than the growth of the supply side. The rate of using technology in the supply side is increasing rapidly. By using technology in some parts, the efficiency of production improved and caused more production while resources are the same. Availability of resources in different areas causes different ways of production and nurturing innovative technologies to maintain food security. Water, soil, climate change, and growth of population are drivers of using technology in food security. To depict the role of different technologies in the food industry, the authors have reviewed the role of the most important technologies in this field. Knowing the trends of changes in the industry will help to focus on the most important questions and solutions. Having a share in the global food market requires the major use of technology in production processes. In this chapter, the authors will review the most important trends of technology absorption in the food industry.

Information and communication technologies (ICT)-presented technological developments, such as soil sensors, remote sensing, artificial intelligence (AI) and big data, have shown the potential to increase crop output and quality while consuming fewer resources and having a smaller environmental impact. The first step in ushering in a new era of technological advancement in the agricultural sector in the Kingdom of Bahrain is evaluating how prepared farmers and farm owners are to adopt these technologies. Therefore, the current study examines how ICT are prepared, accepted and adopted in agriculture in the Kingdom of Bahrain.

The study's goals were attained by using both quantitative and qualitative methodologies. A survey was created to learn more about the present state of ICT usage in agriculture, including its awareness, readiness, acceptance and adoption. To strengthen the conclusions and investigate the current situation related agricultural behavior, production and the use of information technology (IT) to support agriculture in the chosen farms, four exploratory field visits were made. Additionally, a strength-weakness-opportunities-threat (SWOT)-threat, opportunities, weakness, strength (TOWS) analysis was performed to evaluate the Kingdom of Bahrain's readiness and long-term plans for implementing ICT in agriculture. On the basis of secondary data, survey data and interview findings, SWOT-TOWS were created.

The findings revealed insufficient knowledge and awareness about ICT in agriculture. Despite the high level of digital infrastructure readiness in Bahrain, farmers are not ready to adopt sophisticated devices and complex applications such as crop sensing tools, the internet of things (IoT) and AI; however, there is a strong acceptance among farmers to implement new ideas and agriculture approaches.

The Arabian Gulf Countries, which are characterized by an arid environment, sporadic vegetation, weak soil and a lack of water supplies and arable land, have few studies that explore the crucial role of ICT in growing the agricultural sector. Considering the influence of ICT on the provision of more productive agriculture in a challenging and complicated environment, the study contributes to the body of knowledge by conducting an empirical investigation that addresses an urgent issue. The study is considered one of the few in the countries of the Arabian Gulf to address this subject.

The purpose of this paper is to provide insights about the approaches and techniques of professionals that nowadays are designing Digital Products and Services (DPS) in the European agriculture. The emphasis is paid on the integration of end-users and participatory approaches such as agile, considering its current influence.

A survey was conducted to professionals of businesses and entities from 14 European countries. A balanced sample of replies was achieved between private–public background, size of the business or experience of experts. Afterwards, the collection of answers and the opinions of professionals were compared with the state of the art referred in the literature. It allowed checking its soundness and critically discusses the results.

From the raw analysis of responses, professionals show awareness about the importance of end-user involvement and they are eager to incorporate innovative farmers and early adopters to collect the best requirements for products and services. They also declare knowledge and uptake in their companies of new approaches, such as agile. Confronting results with literature, the discussion highlights some inconsistencies and possibilities for leveraging. Types of end-users considered should be enlarged. Their superficial participation must also be avoided.

There is a lack of research on procedures for projects in agro-food sector. Due to the momentum in the digital transformation of agriculture, there are many project teams working in developing DPS and are relevant to discuss about proper methodologies for improving success.

This paper is a literature review on use of artificial intelligence (AI) among agricultural value chain (AVC) actors, and it brings out gaps in research in this area and provides directions for future research.

The authors systematically collected literature from several databases covering 25 years (1994–2020). They classified literature based on AVC actors present in different stages of AVC. The literature was analysed using Nvivo 12 (qualitative software) for descriptive and content analysis.

Fifty percent of the reviewed studies were empirical, and 35% were conceptual. The review showed that AI adoption in AVC could increase agriculture income, enhance competitiveness and reduce cost. Among the AVC stages, AI research related to agricultural processing and consumer sector was very low compared to input, production and quality testing. Most AVC actors widely used deep learning algorithm of artificial neural networks in various aspects such as water resource management, yield prediction, price/demand forecasting, energy efficiency, optimalization of fertilizer/pesticide usage, crop planning, personalized advisement and predicting consumer behaviour.

The authors have considered only AI in the AVC, AI use in any other sector and not related to value chain actors were not included in the study.

Earlier studies focussed on AI use in specific areas and actors in the AVC such as inputs, farming, processing, distribution and so on. There were no studies focussed on the entire AVC and the use of AI. This review has filled that literature gap.

The Internet of Things (IoT) is becoming increasingly popular in agribusiness to help increase food production capacity for the ever-expanding global population. This chapter provides a holistic overview of the latest trends around the applications of IoT in agriculture. We begin by giving an overview of IoT and its capabilities, followed by a deep dive into the practical and realistic aspects of leveraging IoT into the agroecosystem. IoT is already being used for many intelligent agriculture applications, such as open-field agriculture, controlled environment agriculture (greenhouse), livestock breeding, agricultural machinery, and more. This chapter examines those applications and ventures beyond the farm into several other aspects of the ecosystem, including storage, warehouse ambiance control, agri-data analytics and decision control, logistics, environmental safety, etc. The contents of the chapter would be based on extensive studies and empirical analysis of the latest research papers on this subject from around the globe, accurately interpreted and transformed by the authors in light of their academic background and professional experience in the digital transformation arena.

The purpose of this paper is to shed light on the role of and relationships between human, structural and relational capital assets for strategic management in a farm business. In particular, it analyzes the interaction between human capital’s creativity skills and the introduction of climate-smart technologies for the competitiveness of the firm.

An explorative case study was conducted on one of the largest Italian farm businesses to gain an understanding of the drivers of intellectual capital (IC) and of their implications for strategic management. Full-time employees’ perception of the skills required to achieve strategic goals and their perception of whether they possessed these abilities were investigated to determine if an alignment was present. The skills were subsequently classified using the framework of Amabile (1988) into domain-relevant and creativity-relevant skills. Then, two linear regression models were used to investigate the effects of training on the acquisition of these two sets of skills.

The analysis confirmed the strategic role of interactions among human capital assets to effectively exploit the structural capital of the company. When investigating employees’ perceptions, a gap emerged about informatics capabilities and knowledge of soils. As the company’s investments in innovation are oriented to ICT technologies, the company could strengthen informatics training to enable its employees to implement effective innovation.

The paper contributes to the literature on IC by highlighting the role of interconnections of assets to align organizations with their strategic goals. Therefore, the provision of IC accounting contributes to the strategic management of human capital.

The use of management accounting in the agricultural industry has received very little attention by accounting researchers. Agriculture is currently in an era of significant change and adjustment, where change in accounting practice needs to occur in response to external pressures. The traditional use of the gross margin system of accounting has tended to underline a notion that has had a powerful influence on farm business planning that most costs are fixed and that the best way of reducing them to achieve profit maximisation is to spread them by increasing the scale of operation. This logic has been supported by an economic environment heavily influenced by agricultural policy measures that focused on artificial support for market prices and/or direct payments linked to production activities. We argue that the decoupling of support from production has combined with a number of other changes related to payments and cost structures (including those linked to the recent dramatic rise in the price of oil) to provide a very different economic context for farm business planning. The response we advocate to this changed situation is to make greater use of two alternative methods of cost analysis; namely relevant costing and target costing. These have been developed and applied outside agriculture. They have not so far been used in a formal sense within agriculture but have links to existing methodologies used in farm business planning, such as partial budgeting, and in intuitive approaches already adopted by farmers as revealed in recent fieldwork.

The increased availability and adoption of precision agriculture technologies has left researchers to grapple with how to best utilize the associated high-frequency large-volume of data. Since the wealth of information from precision equipment can easily be aggregated in real-time, this poses an interesting question of how aggregates of high-frequency data may complement, or substitute for, publicly released periodic reports from government agencies.

This study utilized advances in event study and yield projection methodologies to test whether simulated weekly harvest-time yields potentially drive futures price that are significantly different from the status quo. The study employs a two-step methodology to ascertain how corn futures price reactions and price levels would have evolved if market participants had access to weekly forecasted yields. The marginal effects of new information on futures price returns are first established by exploiting the variation between news in publicly available information and price returns. Given this relationship, the study then estimates the counterfactual evolution of corn futures price attributable to new information associated with simulated weekly forecasted yields.

The results show that the market for corn exhibits only semi-strong form efficiency, as the “news” provided by the monthly Crop Production and World Agricultural Supply and Demand Estimates reports is incorporated into prices in at most two days after the release. As expected, an increase in corn yields relative to what was publicly known elicits a futures price decrease. The counterfactual analysis suggests that if weekly harvest-time yields were available to market participants, the daily corn futures price will potentially be relatively volatile during the harvest period, but the final price at the end of the harvest season will be lower.

The study uses simulation to show the potential evolution of corn futures price if market participants had access to weekly harvest-time yields. In doing so, the study provides insights centered around the ongoing debate regarding the economic value of USDA reports in the presence of growing information availability within the private sector.