First Published on WEEDSPEEK.COM
Cannabis is not only the fastest growing industry, but it is also one of the most innovative spaces of our time. Every day new products and services are popping up. So companies are always looking for creative ways to stand out in the cannabis industry.
With that and the recent push toward global legalization, the worlds of technology and cannabis are colliding head-on. Both fields are helping to improve virtually every aspect of the cannabis industry, from growing to cultivation and regulation.
And with good reason. The cannabis industry is brimming with a $43 billion market by 2025. Moreover, technology has the power to change how people consume cannabis, how they interact with dispensaries, and how they view cannabis.
Keep reading to find out about five innovations in technology that could radically reshape the cannabis industry.
Artificial Intelligence (A.I.) Cannabis Technology
Cannabis consumption is something that varies drastically from one person to another. Variations are due to two reasons.
First, individuals have different biochemical profiles that are unique to their genetics, lifestyle, and environment. Plus, cannabis strains are essentially different varieties of the same plant. Some have more CBD, THC, or other chemicals.
Secondary factors could also affect how cannabis affects someone’s body, such as:
- The amount of cannabis you’re consuming
- How often you’re using it
- What other medications you’re taking
Because of this, A.I. machine learning technology allows cannabis companies to gather an extensive amount of data. This information can give insight into what combination of ingredients consumers want, including how often they want it.
Having a quality customer experience is essential, and it’s no different for cannabis brands. A.I. can help companies predict changing trends so they can offer their consumers the best possible experience.
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Seed-to Sale Inventory Tracking Technology
One of the most significant benefits of legal cannabis sales is that consumers can buy quality products. Likewise, customers should have trust in what they’re consuming. Therefore, increasing loyal cannabis consumers serve manufacturers, dispensary owners, and everyone connected to the cannabis marketplace.
In comes inventory tracking technology. This innovation does for the cannabis industry just as the name says – track inventory. It helps companies cut down on theft, comply with state regulations, and increase their margins. Accordingly, companies can quickly identify discrepancies in their inventory. And, they can see where their product is coming from and where it is going.
Most important, inventory tracking technology is a proven success for cannabis companies that comply with state laws. Furthermore, it allows businesses to improve their customer service by knowing which products they stock.
Smart Packaging Technology
In today’s cannabis industry, embedded or smart technology gives businesses a range of functionality. A product’s package is just a critical as its contents. Like phones and T.V.’s, packaging can be innovative.
Smart packaging technology uses the internet to provide consumers unique content or value-added digital experiences. According to research from Smithers Pira in “The Future of Active & Intelligent Packaging,” the Smart packaging market is projected to increase an annual average rate of 5.9%, thereby reaching $7.56 billion by 2023.
Q.R. codes and NFC tags feasibly combine into packaging fit for pharmacy shelves. Combining the two allows consumers to scan a code with their phones and get information like potency, dosage, and lab results.
In addition, NFC tags are programmable to show opened or altered products. Most important, they can verify the authenticity of a product, which is a critical when the illicit market makes thousands of counterfeit items every year.
Virtual Reality Cannabis Technology
Cannabis companies have been making use of virtual reality technology to offer customers an immersive experience. With the help of V.R., people can take virtual tours inside a cannabis shop and view cannabis being grown without leaving home.
By using a digital 3D scanning process, V.R. can create a strain library, scientific lab data and user reviews for customers to make educated decisions about their purchases. All without going to a physical dispensary.
Looking ahead at cannabis technology, V.R. will play a significant role in shaping cannabis consumption. V.R. is on target to define our cannabis experiences from facilities to modernizing how we use it.
In fact, MMJ patients can look forward to extended comfort with e-commerce and V.R. dispensaries.
Related Topic: Here’s What No One Tells You About Online Dispensaries
Robot Technology
The world of manufacturing is changing significantly. Robots now handle many of the tasks that humans have done for years. It is only at the early stages of making an impact in the cannabis market. Thereby, it could provide many opportunities.
Robot technology is used for indoor or outdoor operations to harvest and help process products from seed to sale—for example, cultivation, harvesting, or even in laboratory applications for refining oil.
Israel-based company Seedo, for instance, started selling mini fridge-sized cannabis farms for personal use. The technology offered computerized systems and climate control for home-based cannabis growing.
Seedo promised controlled conditioned cannabis ‘from seed to flower’ without leaving your home. Now, they aim to take a step further with what Seedo calls the ‘world’s first automated cannabis farm, using not only A.I.-based technology but also robotic arms.
In The End
Regardless if you’re already in the cannabis industry or are just interested in learning more about it, there will be more to see how cannabis technology reshapes the way we enjoy the plant.
Resources:
5 Technology Innovations Driving the Medical Cannabis Industry Forward. (2020, August 23). Socialist Health Association. https://www.sochealth.co.uk/sp/subs/5-technology-innovations-driving-the-medical-cannabis-industry-forward/
Dorbian, I. (2021, June 21). Legal Cannabis Market Projected To Rack Up $43 Billion By 2025. Forbes. https://www.forbes.com/sites/irisdorbian/2021/06/18/legal-cannabis-market-projected-to-rack-up-43-billion-by-2025-says-new-study/?sh=b23bba136b49
Downer, S. (2020, April 19). What It Takes To Be A Successful Cannabis Content Writer. Sabine Downer Consulting. http://yourcannabizsolutions.com/what-it-takes-to-be-a-successful-cannabis-content-writer/
How AI and Robotics are Disrupting Trends in the Cannabis Industry. (n.d.). Cannabis Tech. Retrieved September 21, 2021, from https://www.cannabistech.com/articles/how-ai-and-robotics-are-disrupting-trends-in-the-cannabis-industry/
J. (2021, August 19). Seed to Sale Tracking: Why it’s Crucial. Blaze Blog. https://www.blaze.me/blog/why-you-should-care-about-seed-to-sale-tracking/
Jensen, T. K. (2020, April 18). How Technology Is Transforming the Cannabis Industry. PCMAG. https://www.pcmag.com/news/how-technology-is-transforming-the-cannabis-industry
Mattio, R. (2020, January 3). How Brands Can Redefine The Cannabis Industry Through Smart Packaging. Forbes. https://www.forbes.com/sites/forbesagencycouncil/2020/01/03/how-brands-can-redefine-the-cannabis-industry-through-smart-packaging/?sh=1cee38431c6e
Restrepo, J. J. (2020, December 31). Best Cannabis Tech of 2021. Herb. https://herb.co/guides/best-cannabis-tech/
Spielman, S. (2021, January 29). Smart packaging: Connecting the physical with the digital. Foodengineeringmag. https://www.foodengineeringmag.com/articles/99310-smart-packaging-connecting-the-physical-with-the-digital
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