Agribusiness companies are expanding into new markets, according to a consulting firm.

247 - The 29th edition of the Global CEO Survey by PwC (PricewaterhouseCoopers) showed that 50% of Brazilian agribusiness companies have started operating in new business areas in the last five years. This percentage is almost identical to the national average across all sectors (51%), but is above the global average (42%), according to data released by the consulting firm. The reports were published in... Globo Rural. 

4,4 business leaders (CEOs) from different sectors in 95 countries, including Brazil, were interviewed. PwC Brazil did not say how many executives were interviewed in the country, but stated that 20% of them represent agribusiness. 

Mayra Theis, partner and agribusiness leader at PwC Brazil, mentioned the case of the sugarcane and energy sector, which, in addition to generating electricity and producing ethanol and sugar, has invested in technologies for biogas production. "Technology and the pursuit of sustainability have driven the shift in revenue streams. Agribusiness is diversifying its operations to compete better," she said. 

Artificial Intelligence

Statistics showed that in Brazil, 33% of agribusiness CEOs reported increased revenue due to the use of artificial intelligence (AI). The global average is 29%. Another 58% stated that there was little or no change in revenue. According to the research, 33% of Brazilian CEOs also reported that the use of AI helped reduce expenses, and 48% reported little or no change. 

According to 60% of Brazilian agribusiness CEOs, companies will need fewer entry-level professionals in the next three years because of AI. A third of this group predicts a reduction of more than 16% in their workforce. 

Executives believe that staff reductions will be smaller in middle and senior-level positions. "There is progress, but there is still a long way to go before most people realize the benefits of AI," said Theis.