Have you ever imagined an industry where machines help you to pick the right cannabis strains and grow the plant like a pro? What do you think about a system where machines assist you to reduce procedural and operational errors while saving you money? Well, you can experience this and so much more in the cannabis industry through the optimization of machine learning or artificial intelligence. In this post, I will discuss how cannabis businesses can optimize the power of artificial intelligence (AI), as well as explain how AI impacts the US cannabis industry in several smart ways.
4 Areas AI is Impacting the Cannabis Industry
1. Improved Customer Experience Using Apps and Chatbots
Improved customer experience through apps and chatbots is the first way in which AI is impacting the US cannabis industry. Consequently, many chatbots and applications are entering the market to assist consumers to find the best cannabis products. This way, cannabis businesses can enhance their online customer experience and in their physical outlets. For example, Potbot, a mobile app available for Android and iOS users, uses artificial intelligence to do the following:
- Analyze more than 30,000 cannabis strains.
- Go through peer-reviewed medical journals to examine and compare studies on cannabinoids. Users can match the information with 37 symptoms and get the most appropriate types of products for their health conditions.
Global Cannabis Applications Corp (GCAC), another data technologies development firm focusing on the cannabis industry, plans to launch its chatbot called Sanna. Using this chatbox, consumers can access medical cannabis data and get customized product recommendations using their symptoms. This way, patients can make the best purchase decisions since the chatbot can process and understand what happens around cannabis patients in real-time. According to the GCAC’s CEO, Brad Moore, “It was designed with artificial intelligence to deliver highly personalized and accurate analysis of symptoms, treatment plans, and knowledge through an engaging user experience. Sanna uses machine learning and natural language processing to interpret and understand what is happening with medical cannabis patients in real-time and provide them the best possible information on a global scale.”
2. Smart Investment
AI is also instrumental in assisting investors because the US cannabis industry is growing so fast. Consequently, cannabis market leaders have listed their stocks. This means that investors in these cannabis stocks need tools that enable them to make smart investment decisions. One way of accessing such information is through the help of AI. For example, VantagePoint is a software firm committed to designing apps that can predict the stock market. It has also announced that investors can utilize its platform to predict cannabis stocks, and interested investors can utilize the app in the US and Canada.
In one of its latest press releases, the firm announced, “Cannabis stocks, like stocks in other sectors, are driven and impacted by other related stocks and markets both within the US and around the world. By analyzing these complex market relationships using artificial intelligence, patterns in data can be detected and then used to make highly accurate short-term forecasts with up to 86 percent documented accuracy.”
3. Enhanced Delivery
Delivery is critical to the cannabis industry because if products cannot reach their target users, then what is the point? That is why AI is beneficial for enhancing delivery processes. But how is this achieved? Through drones and driverless robots dispatched to drop cannabis products to users. Even though many of the states in the US that have legalized cannabis don’t permit the use of AI-driven robots and drones, it is a matter of when they will. In the UK, for instance, a startup called Starship Technologies is piloting delivery within London using wheeled robots. With proper and favorable legislation in place, we expect to see the same thing happening in the US cannabis industry. This is most likely to happen after the federal government legalizes cannabis.
4. Smart Growing and Harvesting
Lastly, we end our coverage with cannabis growing and harvesting because, without these basic stages, there could be no cannabis products, and consequently, no industry. Using AI, cannabis growers can optimize irrigation apps. For example, WaterBee lets growers determine accurately and remotely the exact amount of water their plants need. Even though the app is not exclusive to cannabis, growers may use it to get the best from their cultivation efforts. Moreover, the application minimizes the negative effects of overwatering by helping growers to save up to 40 percent of water.
We appreciate your interested in our post aimed at explaining the ways in which AI impacts the US cannabis industry, and sincerely hope our discussion has shown you how investors in the cannabis industry can benefit from this technology.
Pete Asmus is not one to let life idly pass him by. GreenZone 360’s CEO gets things done. From motivational speaking and meeting with new business partners to building ninja courses for his kids and advocating for public education on Alopecia. Whether it’s business or family, you’ll find Pete going to MAKE SOMETHING HAPPEN.