Cargill’s Brian Sikes, the board chairman and chief executive officer, foresees a complex future.
He wrote a letter in the annual report saying slowing population growth, aging consumers, shifting dietary preferences, geopolitical tensions, artificial intelligence (AI) and climate disruption are reshaping the global food system, requiring companies to focus on “smarter movement, stronger connections and deeper trust” rather than simply increasing production.
Cargill said it has spent the past two years restructuring its operations, consolidating five enterprises into three and reducing its business groups from 23 to 14 while investing in digital technologies, AI capabilities and acquisitions, including Mig-Plus and Teys, to improve efficiency and better serve customers.
As an example of its use of technologies, he said an AI-powered hypothesis engine is helping researchers reduce work that once took months to just hours. Cargill has been using AI in supply chain management, product development, grain forecasting and research.