Solving Problems for Ag Lender With Technology
Tim Hammerich
News Reporter
One of the shortcomings ag lenders experience is not having the right tools, time, or labor to accurately verify feeder cattle and rangeland cattle. That’s why Andrew Minarick founded BovEye, a remote livestock verification tool using computer vision and AI. Minarick says it’s intended to reduce risk and improve efficiencies for lenders.
Minarick… “Well, let's start with what does the lender care about and not try to overdesign a solution that solves all the problems in the industry, but solves a really focused problem. And one of the things we landed on was the need to be as fully remote as we can and really low implementation frictions at the same time, we saw some really interesting trends with satellite imagery, both in the spatial and temporal resolution. That was kind of reaching an inflection point where the resolution was high enough to detect individual animals and the reach and frequency was high enough to meet the lender's needs for frequency. Like you said, computer vision isn't new, hadn't really had the resolution to be effective. You know, we're right on the edge of it being possible or feasible. Then you bring in the power of some of those neural networks to really detect the nuances in the imagery that we use to reach accuracies that, that are also sufficiently, sufficiently accurate for the, the lenders requirements as well.”
Learn more at boveye.com.
