Significant up gradation of agriculture sector is vital to meet the growing needs of food and other agriculturalproduce by the rapidly increasing population. Artificial Intelligence with various applications in several fields is makinginnovative inroads in to farming sector to improve productivity, identify diseases with 98% accuracy, and recognize pestdamage. It gives growers a weapon against cereal-hungry bugs. Sensors monitor the fruit ripening, adjusting the light tospeed up or slow down the pace of maturation. Farmers can monitor the well-being of their crops or the movement of theiranimals from their home farm, it can make agriculture less labor intensive, and more efficient. Companies are using highresolutionimagery from drones, planes and satellites to diagnose problems of pests, diseases, moisture stress and nutrientdeficiencies in the field. BEEWISE uses artificial intelligence to automate beehive maintenance; and ARMENTA is workingon new therapies to treat sick dairy cows. Other firms are targeting trendy sectors like pharmaceutical crops and alternativeproteins. This kind of farming requires considerable processing power and is expensive. Artificial Intelligence has to bedeployed with discretion by the natural wisdom of users. Machine Learning can just do the repetitive jobs taught and lackscreativity and doesn’t get better with experience. The point that use of AI can lead to unemployment is debatable in the faceof shortage or non-availability of laborers. This paper attempts to discuss the promises AI holds for farming, problems ofits application/implementation, current concerns briefly touching uponthe future prospects and Sustainable Agri-FoodSystem Business Models in the COVID-19 Scenario.