By Sam Korus, Analyst for ARK’s Autonomous Technology and Robotics Strategy
Agriculture has been an important case study in automation. The tractor, for example, transformed agriculture from a human- and horse-powered industry into a mechanized industry during the past hundred years. If agriculture is any indication, other industries in the process of automation are likely to enjoy increased productivity and margins, both of which should boost their returns on invested capital over time.
The tractor is a good proxy for the level of automation in the agriculture industry. As shown below, the adoption of the