Improve decision making, provide traceability, enhance market opportunities, and improve the products' overall quality and quantity through a farm record data model over several years. Food traceability can create efficiency improvements that can help reduce food waste. Measure resources and inputs to quantify results from both. It allows using the most precise and correct inputs (water, fertilizer, chemical controls, or seeds). This could be extended to the other acres that are not being used for your vocation.

Increase in GHG emissions due to the use of technologies or land exploitation. Contamination of water and soil due to the excessive use of fertilizers and chemical components. Loss of biodiversity due to alteration of the regular cycle of the ecosystem. Overexploitation of land by demanding practices. Gender inequality and/or marginalization risk: It can affect in certain regions the cultural or spiritual value that the land has for indigenous communities due to exploitation.

Execution risk: The various available tools often do not follow the same technology standards. As a result, there is a lack of uniformity in the final analysis. Getting farmers thoroughly acquainted with the concept of smart farming is of the utmost importance before they can proceed with the implementation. Stakeholder participation risk: The Government, together with the National Development Plan, must fulfill its digital transformation initiative. Technology providers (hardware and software) need to provide advice and support for the tools' proper use. Drop off risk: That farmers do not adapt to the new measures presented, and therefore abandon projects due to difficulty or lack of digital skills. External risk: Lack of connectivity in many remote rural locations makes the implementation of digital farming problematic. Unexpected impact risk: Drastic changes in the environment that are not accounted for in big data, such as earthquakes, tsunamis, and other natural disasters. Gender inequality and/or marginalization risk: Understanding that agriculture is a sector predominantly developed by men, it must be ensured that women can have the same access to technological improvements. A significant percentage of indigenous communities' land is for agricultural use. These communities must be included despite their remoteness and geographical complications.

(SNCTI): Develop and implement the information, knowledge management, and specialized expert systems based on ICT solutions for adequate decision-making in territorial agriculture production systems.

(Agricultural and Rural Development Policy (2018-2022)): Advance towards a field with more significant equity, productivity, and competitiveness aligned with implementing an integrated rural reform (20).

(National Development Plan(2018-2022)): Seeks to invest in rural agriculture so that 550k producers have access to technologies, training, and productive assets to increase productivity. It also aims to promote companies oriented to provide complementary services based on the Internet (IoT), analytics, drones, and artificial intelligence (AI) (21).

Financial incentives: The National Commission of Agricultural Credit approved (2019) new credit lines to strengthen competitiveness and associativity in agricultural value chain schemes (22). VC, such as Accion Venture Lab, has financed companies directed to remote technologies for precision monitoring and decision-making.

Fiscal incentives: Decree 849 of 2020 provides an exempt income tax incentive from investments that increase productivity in the agricultural sector for a term of 10 years (30).

Other incentives: There are 20 investment vehicles available in LatAm that finance entrepreneurs in the AgTech sector that have performed 450 in startups focused on tech-innovation for agriculture (23).

(MinAgricultura (2020)): "Productive alliances for life" is an instrument that links small rural producers with the markets through an agribusiness scheme with a formal commercial ally (20).

(Law 1876 of 2017): It created the National Agricultural Innovation System (SNIA). Among its functions is the introduction of services, methods, adaptations that improve the production, financial, credit, and informational environment, aiming to significant improvements in the agricultural sector (28).

(Law 101 of 1993): States on the constitution that the technological development of agriculture should be favored and the provision of technical assistance to small producers (29).

NXTP Labs created an AgTech Accelerator (invests in agricultural technology), and by 2017, it invested in a platform for managing traceability and risk prevention in agriculture (24).

Microsoft and MinTic, are expanding high-speed and low-cost internet connectivity through devices that take advantage of blank spaces in the radioelectric spectrum (25).

IFC agreed to lend USD$ 150M to Yara International to support production in Zambia, Brazil, and Colombia. Within the pact, Yara will offer training to farmers to promote the adoption of precision farming techniques (15).