A NEW agtech start-up will use artificial intelligence to help create analytics around wheat, corn, barley, canola and soybean production.
Octopusbot, based in Sydney, creates outlooks for both domestic and international production.
Company founder Rodrigo Cortes said the concept was to create more informed decision-making.
"Using the best analytics created using our proprietary artificial intelligence models can help people within the grains industry gain a critical edge," Mr Cortes said.
Fellow founder Carolina Ferreira said the models, which incorporate satellite imagery, helped with making assessments with what was often a volatile space.
"Forecasting grain production can be difficult when dealing with volatile factors such as the weather," Ms Ferreira said.
"We're aiming to create a product where people can make confident decisions based on data," she said.
Mr Cortes said the Octopusbot platform would not be limited to just grain production information.
"Through our global production and supply and demand estimates we are also able to provide information on price direction and probabilities right through to data on protein spreads and port zone differentials," he said.
Ms Ferreira said the pair had decided to set up the company to fill a hole in the market.
"We identified a lack of accurate information and more particularly accurate forecasts as a key challenge for the industry.
"This platform will help provide that critical and unbiased information to those that need it."