14 Apr 2022
Development of IT in the Cannabis IndustryDue to the marijuana ban in many countries, innovation in the cannabis industry has been slow and difficult, with many pitfalls on its way. The legalization of cannabis for recreational use in several countries, including the United States, has created new opportunities for growth by allowing more people to be involved in the industry. As more people embrace cannabis for its therapeutic benefits, cannabis businesses are adapting by simplifying operations with cutting-edge technology and taking cannabis commerce online. Indeed, one factor propelling the cannabis market forward is the increasing use of technologies that allow better harvests, connect customers and marijuana businesses, ensure excellent safety rules, and provide a diverse variety of cannabis consumption options. Today, we can see that there are not only a plethora of farming and security technologies used for growing cannabis but also various tools, ranging from AI robots to all-in-one ERP systems. Photo by Ryan Lange on Unsplash.
Top Emerging Technologies Shaping the Cannabis Industry’s Future Growth
IoT Solutions and AutomationMany cannabis farms have turned to “Internet of Things” technology, such as agricultural sensors, to link their growing operations and modify settings specifically designed for cannabis cultivation. Cannabis plants’ volatile nature requires precise attention to detail and strict timetables. So, marijuana growers may use a connected growing system to add thermostats, temperature controls, humidity sensors and controls, scheduled watering, light cycles, and other features to assure the best conditions for their plants. Moreover, the use of the newest technologies in the medical cannabis industry allows specialists to better separate medical substances from marijuana components. Cannabis is subjected to testing before it is used in the final product to ensure quality and product safety. In the future, such technologies will help researchers extract and investigate the number of other molecules present in marijuana. For now, we know that there are 400 chemical compounds in marijuana, and only four of them – d-9-THC, CBD, d-8-THC, and cannabinol, are well researched. With IoT solutions, cannabis producers can now trace their product from seed to sale by utilizing tracking IDs to identify plants throughout the germination phase and follow them as they grow, are harvested, dried, and sold. Such stringent tracking enables the government to monitor the sector and trace any problem situations back to their source, while also increasing transparency to the customer across the entire supply chain. Photo by Lucas Vasques on Unsplash.
Artificial IntelligenceArtificial intelligence is another emerging technology in the cannabis sector. Growers may use AI to adjust to environmental changes and even modify the strain of their products. Thus, cannabinoid biosynthesis is a novel creative technique that has been shown to be a low-cost means of producing CBD, THC, and other cannabinoids. The current technology employs microorganisms to build yeast strains capable of producing more best-selling cannabinoids. The technique is used to reduce manufacturing expenses, increase quality, and reduce the overall cost of cannabis products. Moreover, due to advanced technologies, consumers now have a great choice of customized cannabis products, including vapes, oils, gummies, candies, and other varieties of forms. Because marijuana is a psychotropic chemical, using a strain that is different from the physiological demand might result in serious consequences. Technology helps overcome this problem by preparing cannabis content in purposeful and calculated amounts. AI is also helpful in the effective and timely delivery of crops. Many entrepreneurs are exploring how they may utilize this technology to increase their capacity to ship merchandise across the country. Some cannabis companies use AI-based apps to organize marijuana delivery, forecast supply and demand, and change inventory and delivery depending on the received information. AI technologies can assist cannabis firms in anticipating market trends, pricing adjustments, and volume swings. As competition increases, prices in the cannabis sector are expected to fall, making it more vital to use big data to gather insight into rivals, pick the proper sales strategies, and target the correct consumers.
Usage of Cloud StorageWhether it’s producing plants, task management, or state compliance, cloud solutions are helping cannabis growers, sellers, and other partners to take crucial information and increase efficiency throughout cannabis businesses. Computing services and solutions, such as Amazon Web Services, Microsoft Azure, and Google Cloud, now provide storage and processing capacity, allowing enterprises across the industry to monetize collected information. These cloud platforms are accessible from any smart device that has an internet connection. Data moved to the cloud is retrievable at any moment.
Technology for E-CommerceMore customers have access to cannabis due to advances in web technology. Almost everyone can easily order and acquire high-quality cannabis products from the comfort of their own home. The rapid expansion of the e-commerce sector in the cannabis industry contributes to global cannabis sales. The appearance of all-in-one seed-to-sale software solutions that track every stage of the cannabis supply chain, including growing, manufacturing, testing, distributing, and selling, helps farmers and merchants simplify their operations. With such software, there is no need to retain manual records with medical marijuana software, making stock tracking and getting the key inventory data easier. The cannabis business also benefits from a variety of electronic payment methods, including prepaid cards, bitcoin, and e-wallet payment systems. Photo by Add Weed on Unsplash.
Medical Marijuana Telehealth Has Got the Green LightWith the introduction of IT technology, it has become not only easier to buy any kind of marijuana, but also to get the right to purchase it. Speaking of the US, marijuana is currently legal in 37 states. Due to the COVID pandemic, people got the temporary right to consult and be prescribed medical marijuana online. In some states, this right has become permanent enabling patients to legally use telehealth for getting medicinal marijuana cards. Telemedicine services provide a lot of advantages to their users:
- It’s convenient and private. With an online service, you can schedule your consultation at any time that is comfortable for you and do it from anywhere. Moreover, the online procedure helps avoid judgments and criticism from your primary healthcare physician.
- It’s easy to find. Patients who do not live in a major metropolis can now obtain a medicinal marijuana recommendation through telemedicine. Not only that, but they may save long-distance trips by just going online to visit an expert.
- It saves your healthcare costs. Telemedicine has significantly decreased healthcare expenses for millions of people across the country by reducing hospital visits. Patients save money on gas since they do not have to go to their clinic.
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