News Summary

• 17% of the world's farmers now use generative AI in farm-related tasks, McKinsey says.
• The AI adoption follows a multiyear farm slump that crimped spending.
• Costs for labor, land, equipment, financing and fertilizer have remained elevated and volatile.
• The report is based on results of McKinsey's Global Farmer Insights survey, which gathered responses from 5,500 farmers across 10 countries between April and June.
• "More than half of specialty crop farmers now using at least one biological," the report says.