John Deere: AI Transforms Farming

Deere CFO and senior vice president Josh Jepsen talked about the company's growth on 'The Claman Countdown.' John Deere is using artificial intelligence to help farmers deal with a shortage of workers and allow them to take care of other jobs related to their business.

Jepsen said that they will make all the steps a farmer does for corn and soybeans autonomous over the balance of the decade.

Deere hopes to solve customer issues, such as job quality and access to skilled labor, through the creation of autonomous machines, according to Jepsen. The company announced in January that it was creating new autonomous tractors, an autonomous dump truck, and an autonomous electric mower. According to a press release from John Deere, the machines use computer vision, cameras, and AI to navigate.

Jepsen said that bringing autonomy to tractors and tillage creates opportunities. He added that customers can be at home, with their family, at high school football games, or doing other more value-added jobs on the farm.

Deere introduced its first autonomous tractor in 2022. It was made with six pairs of stereo cameras for obstacle detection.

Jepsen stated that they believe they are going to build out the full production system.

The tractor was created to help feed the world, with Deere noting that global food demand is expected to increase by 50% by 2050.

Jepsen said that there is a tremendous amount of opportunity for them and that this is just the beginning.