Article by Dale Woodruff
ARTIFICIAL intelligence (AI) is rapidly changing industries, and agriculture is no exception. For family-owned farming enterprises, AI offers practical tools that can simplify daily tasks and improve efficiency. As someone who works closely with farming families, I’ve seen how AI can be a game changer. Let’s explore how AI can be practically applied to help make your workday a little easier.
Streamlining Communication and Decision-Making
One of the most immediate applications of AI is using tools like ChatGPT (yes, I use it myself!) to summarise lengthy reports. As many of you know, consultants often provide in-depth reports full of critical information. However, sorting through pages of data can be time-consuming, especially during peak seasons. With AI, you can upload a report and ask for a quick summary. This can help you extract essential details and recommendations, allowing you to make timely, informed decisions without getting bogged down in the technical jargon.
Financial Forecasting and Budgeting
Managing farm fi nances is a critical component of long-term success. AI-based accounting tools can analyse past financial data to create more accurate forecasts. This allows you to plan ahead with greater confi dence, whether it’s preparing for seasonal fluctuations in crop yields or determining when to invest in new machinery. For example, combining Xero and Cashpeek can provide easy-to-understand, real-time fi nancial analysis. Some tools can even track expenses in real-time, sending alerts when you’re nearing budget limits or offering suggestions on where to cut costs.
Assistance with Writing Emails and Letters
Another practical application of AI, such as ChatGPT, is helping you draft professional emails and letters quickly and easily. For example, if you need to send an email to a supplier, but you’re not sure how to phrase it, you can type a rough draft or even just a few key points. Simply copy and paste this into ChatGPT and provide a clear instruction, like: “Please draft a polite email to my supplier about the delayed delivery of seed, asking for an updated timeline.” ChatGPT will then generate a well-worded email for you. You can review the text, make any necessary adjustments, and send it off confidently. This can save time and effort, especially if you’re managing multiple communications. Whether it’s a formal letter to a government department or a casual note to a neighbour about a shared fenceline, AI can help you craft the right tone and language. AI doesn’t need to be complicated to be useful. With a little bit of integration, family businesses can use these tools to improve efficiency, save time, and ultimately increase profitability. It’s a practical step towards future-proofing your business.
Contact a Byfields Director at any of our offices to discuss further.