The Tesla of Farming? -- Should You Buy John Deere Stock Now?
Believe it or not, Deere & Company (NYSE: DE) currently employs more software engineers than mechanical engineers. How is this possible? The farming industry is experiencing significant disruption. Innovative technology is enabling what is called "precision agriculture" to come to fruition. Farmers are able to leverage technology to monitor their crops in ways that were once unfathomable. John Deere's next-generation machines use artificial intelligence (AI) to exponentially increase efficiencies, enabling farmers to reap increased crop yields with less work and lower costs.
Deere does not manufacture electric vehicles like Tesla (NASDAQ: TSLA), but you may be surprised to hear it is working on autonomous electric tractors, semiautonomous tractors, autonomous drone sprayers, and much more. Is John Deere the Tesla of agriculture?
In July 2020 John Deere hired Jahmy Hindman as the company's first chief technology officer in its 184-year history. Did that number surprise you? That's right, John Deere was founded in 1837. Hindman leads Deere's Intelligent Solutions Group, and his role is responsible for building out the company's tech stack, which includes connectivity, embedded software, data platforms, and applications.
Source Fool.com
