Innovation is more important in modern agriculture than ever before. The industry as a whole is facing huge challenges, from rising costs of supplies, a shortage of labor, and changes in consumer preferences for transparency and sustainability. There is increasing recognition from agriculture corporations that solutions are needed for these challenges. In the last 10 years, agriculture technology has seen a huge growth in investment, with $6.7 billion invested in the last 5 years and $1.9 billion in the last year alone. Major technology innovations in the space have focused around areas such as indoor vertical farming, automation and robotics, livestock technology, modern greenhouse practices, precision agriculture and artificial intelligence, and blockchain.