Fair trade certification is the confirmation from an official organization that a product was produced and sold according to fair trade principles: mainly, fair compensation to farmers for their labor.
Additional goals of fair trade networks include environmental sustainability and women’s empowerment.
Precision agriculture refers to the management of farms with satellite and other data and technologies. The resulting maps provide highly detailed information about the topology and condition of farms, down to the individual plants.
Other common terms for precision agriculture include satellite farming and site-specific crop management.
Banks, credit unions, credit card companies, insurance companies, stock brokerages, investment funds, and more must report their activities to government regulatory agencies. Following financial crises in the late 2000s, regulatory compliance has become stricter and more onerous on financial services companies like those listed above.
From the stricter need for reporting and the massive amounts of data generated by financial institutions, the regtech industry has sprung up, combining regulatory reporting and big data technology.
Smart factory technology allows factory sensors to communicate with each other, with employee mobile devices, and with management's software platform. This enables employees to monitor equipment 24/7 and receive immediate alerts whenever there is a problem. The technology also enables the equipment itself to automatically adjust operations in order to keep the factory running smoothly.
Smart farming refers to the use of connected technology and artificial intelligence in the field of agriculture. It is also referred to as smart agriculture, agritech, agrotech, or even agro technology. However, the terms agritech and agrotech include the fields of horticulture and aquaculture.
AI has been used to improve supply chain and demand forecasting for a couple of decades. Demand planning applications use data driven algorithms to take historical data and use it to forecast. Demand forecasting can include promotion planning or stock and sales forecasting. The machine looks at the forecast, compares it to actual shipments, and suggests alternatives and optimization options. Over time, many companies started doing more specific forecasting for specific regions, products or stores or for more granular points in time. Both retailers and their suppliers (CPG companies or 3rd party shipping and supply chain companies) use their data to help conduct automated decision making within the supply chain.
Cities produce large amounts of waste, from litter to sewage; managing this waste is a constant challenge for municipal authorities. Waste management as part of the smart city model involves the use of IoT technology and machine learning to run and to optimize city waste management.