Technology’s Impact on Farming and the Rural Midwest

The Federal Reserve Bank of Chicago held a conference to explore the opportunities and challenges presented by new technologies to farms and rural areas in the Midwest and other parts of the U.S. Experts from academia, industry, and policy institutions gathered to discuss how technological advances have reshaped the rural economy and how they may affect its future. The goals of the conference included understanding technological change and its impact on farming and rural communities; examining policies that affect the availability (and adoption) of technological innovations in the countryside; analyzing the primary influences of new technologies on the rural Midwest, especially on its employers, health care systems, and educational institutions; and considering potential ways to fund rural broadband and agricultural innovations, particularly given lower farm profits in recent years.