Precision agriculture uses technologies such as GPS or automation to make farms more efficient. For example, farmers can use auto-steering equipment to precisely plant a field, and activity monitors can help dairy farmers collect data about their cows' health. In this Technology Assessment, we review the benefits and challenges of precision agriculture technologies. They can make farms more profitable and have environmental benefits—like reducing fertilizer runoff in waterways. But they can also be complex and have high up-front costs, making it hard for some farmers to access them. We examine policy options to help address these challenges.