Profitability of Digitalization on the Example of Precision Farming

The process of digitalization has long embraced all spheres of human activity, and it is the turn of such traditional industries as agriculture. At this stage of human development, increasing yields is attractive from the point of view of increasing the profitability of the agricultural business, but not yet from the point of view of the food crisis. For a long time, the competitiveness of farmers depended only on the amount of land, the vagaries of the weather and the experience of agronomists that are not enough in the modern world. Agricultural companies that are actively introducing technological innovations can harvest more in a smaller area than its competitors with a larger field but without innovations. The article reveals the urgent issues of the expediency of digitalization of the agricultural sector, shows the experience of farmers from different countries in the implementation of precision farming technologies and monitoring systems, and also considers the prospects and profitability of introducing agricultural technological innovations.