ClimateAi Launches AI-Driven Crop Yield Outlook Amid Global Climate Volatility
April 23 2024 - 7:15AM
ClimateAi, the world’s first climate resilience platform that
applies powerful machine learning to climate risk forecasting,
today announced the public launch of its latest product offering,
ClimateLens Monitor Yield Outlook. This new solution offers
climate-driven yield forecasts for key commodity crops, including
corn, potato, canola, oats, hops, soybeans, sorghum, wheat and
barley, as well as insights into the climate factors driving the
variability.
Today’s extreme weather and climate events continue to pose
significant disruptions for food and agriculture supply chains, as
we have seen recently with cocoa prices skyrocketing due to drought
in South Africa, or soybean production taking a hit in the
midwestern US and South America. These disruptions cause costly
ripple effects, creating challenges for farmers' livelihoods,
companies sourcing key inputs, and global agricultural trade.
“We continue to see extreme weather, from heat and droughts to
excessive moisture, wreak havoc on our global food supply,” said
Himanshu Gupta, CEO of ClimateAi. “This volatility will only
increase year over year, so it is imperative that both businesses
and governments understand the impact on production, imports,
exports, and food prices with enough time to react.”
Monitor Yield Outlook draws on ClimateAi’s 6+ years of
experience providing patented seasonal and sub-seasonal weather
forecasts and depth of agronomic risk expertise across more than 50
customers. This new product formalizes yield forecasting
initiatives that have proven valuable for a number of global
customers, whose successes with ClimateAi’s yield outlooks drove
the company to scale up their offering. One such customer is
Japanese multinational brewing and distilling company, Suntory, who
have been using ClimateAi’s forecasts to gain insights into climate
risk to corn yield. Brian Golden, Suntory’s Head of Global
Supply Solutions, commented, “The yield tool is very insightful for
us and a quicker way to understand impacts. Understanding county
level yield predictions of different commodities is quite impactful
for us.”
The product offers weekly yield outlooks from planting through
harvest for key production countries, states, and specific sourcing
locations, surfacing the key climate risk factors contributing to
yield with models uniquely calibrated by crop and region. Monitor
Yield Outlook offers more frequent updates and increased
actionability over public reports or consultants, allowing sourcing
and procurement professionals to drive more effective contracting
strategies, anticipate key drivers of sourcing risks, and take
early action in commodity markets.
For Immediate ReleasePress
Contact: media@climate.ai
ABOUT CLIMATEAIClimateAi helps companies better
manage climate risk with actionable intelligence to design and
protect global supply chains. Leveraging proprietary AI modeling,
ClimateAi delivers unmatched weather and climate predictions and
conversion into business impact that set a new industry standard
for accuracy, precision and scale. Its ClimateLens™ platform
quantifies climate impacts, providing business-specific insights,
reducing risk, and creating new value opportunities for its
customers. Headquartered in San Francisco, ClimateAi is committed
to working with industry leaders to standardize climate risk
assessments across supply chains to help businesses adapt and bring
climate resilience to our global economy.
For more information, please visit: https://www.climate.ai and
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