The equine industry is a growing segment. The market in the USA is around $120 billion and is employing more than 1.5 million people, generating about 80 million in salaries, wages and benefits. Given the huge market size, the industry is adopting technology to play a vital role in its transformation especially on health-related issues.
Horses injure themselves on a frequent basis and are it rather common to see abrasion, leg injuries and cuts. If the injury is manageable, the farm staff will usually handle it but when they detect changes in the horse’s behaviour or eating habits that will indicate the start of a problem Veterinary will administer if more advanced treatment is required. The usage of technology will aid this process a lot more
The use of artificial intelligence (AI) can be implemented to track how horses move. AI makes it possible for machines to learn from experience, adjust to performing human-like tasks. Computers can be trained to accomplish specific tasks by processing large amounts of data and recognizing patterns in the data. In this instance, this will can track the horses’ movement to understand their health. This is what the horse owners want. They cannot just depend on the trainers or the CT machines. AI tracks and records every movement. Any movement that is deviated from the original set of data is worth of the owner’s attention.
Wearable technology has evolved the way people interact with their environment. This works the same for horses as well. IOT wearable devices that are attached to the horses can also provide another level of data to track the horses’ condition. It can better track their speed, constant reading of their body temperature and heart rate. Horse owners can get these data as their convenience, anywhere, everywhere. The combination of AI and IOT data will help the trainers and owners find out how their horses are doing and when are they at the maximum performance.
Next, blockchain technology. This is an undeniably ingenious invention. The blockchain is based on a distributed, peer-to-peer topology where data can be stored globally on thousands of servers – and anyone on the network can see everyone else’s entries in real-time – it’s virtually impossible for one entity to gain control of the game network. It plays an important role to ensure data security and integrity. Horses medical records and information should be on the chain. This will aid in the breeding process, ensuring the horses’ heritage and bloodline.
The tokenised economics behind blockchain is also something interesting. Horse syndicates can use a platform to allow members to co-own a purebred racehorse, Jocky Clubs can use the tokens to regulate Horse Racing and Equine Lovers can use tokens to get news, insights and even tips. Platforms like RacingLand.com looks at the overall equine industry and hopes to use tokens as a form of utility. This will open up a new market, allowing more people to know about horses and even own a horse together with people from another part of the world.
“We want to bring new blood into the equine industry. We want to bring in more horse lovers together using the blockchain technology. At RacingLand, we create a brand-new horse racing ecosystem, making the participants feel more at ease and engaged” Mr Wally Pyrah, Committee Member of RacingLand and Senior Racing Advisor to the Hong Kong Jockey Club (HKJC) said.
Horse owners and fans want their horse to do well in races. With the help of technology, it provides many data points for fans to analyse their favourite horses. This gives the fans a sense of belonging, they feel that they know the horses more and are part of their lives. This is how the equine industry should be like and this is how the industry can grow bigger and stronger with the help of technology.
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