Cannabis Industry
Artificial Intelligence In Cannabis: It’s Already Under The Influence
AI technology optimizes cannabis production and company strategy across the industry. Inefficiencies in the marijuana business are being addressed with AI technology by firms.
Artificial Intelligence technology optimizes cannabis production and company strategy across the industry. Inefficiencies in the marijuana business are being addressed with AI technology by firms. The cannabis trade is experiencing a period of enormous progress at present. Cannabis is simultaneously becoming a legal, commercial product in numerous countries while inventors make significant advancements in agricultural engineering.
Artificial Intelligence (AI) for Smart Cultivation
As a result, we’re seeing cutting-edge tech emerge to improve cannabis yield, cost, and productivity through artificial intelligence (AI) for smart cultivation and production. The rise of AI for intelligent growth and manufacturing has disrupted the cannabis sector as an example of technological innovation disrupting this industry.
The application of AI in the cannabis sector is a product of two swiftly expanding sectors. In 2018, Canadian customers spent C$569 million on cannabis. Arcview Market Research and BDS Analytics predict that by 2024, sales in Canada will increase at a compound annual growth rate of 44 percent to reach C$5.2 billion.
In addition, as new markets open up and offer brand-new chances worldwide, legal marijuana sales are anticipated to hit US$57 billion by 2025.
Cannabis Growing is a Complicated Science
Hundreds of new businesses could be seeking to break into the legal cannabis market as it grows and becomes more crowded. They will no doubt embrace innovative methods to gain an edge. Cannabis growing is a complicated science that involves hundreds of variables that may be altered to control product quality, consistency, and quantity yields.
Lighting, water, CO2, soil nutrition, and other inputs influence a crop’s success or failure. Furthermore, because there is no “one-size-fits-all” answer for these variables, even master growers might struggle to find the proper balance. AI may assist in this process by providing better solutions than humans could achieve alone.
Artificial Intelligence Replaces Human Input
Artificial intelligence in the cannabis sector adjusts to a system’s capacity to perform activities that would have previously required human input. This generally entails an AI making judgments based on patterns and associations discovered in analyzed data rather than predetermined “scripted” logic.
This implies AIs can make decisions similar to those made by humans. In addition, because AI operates continuously, with productivity levels comparable to humans, it provides unique possibilities for cannabis cultivation.
AI Can Heal Plants in Real Time
AI can improve growth conditions for cannabis and other crops by integrating data from sensors. For example, suppose a plant is showing indications of poor health. In that case, an AI system can analyze various indicators and diagnose the problem in real time while altering the growth parameters appropriately.
Predict Yield Size Accurately
A second advantage of AI is that it can predict yield size accurately. This lets producers plan their finances based on how much product they will have at harvest. This knowledge might assist marijuana businesses in making good business decisions like distribution planning.
Optimizing eCommerce Without Human Input
AI is used both inside and outside the cannabis industry. For example, AI applications are being employed in eCommerce platforms to speed up procedures, allowing consumers to get their goods faster while saving merchants money.
AI is also being utilized to forecast demand and sales figures, providing cannabis firms important insights when planning for the future. On the buyer side of things, artificial intelligence technologies are increasingly being implemented as a means of addressing common client issues and answering queries.
The Government Uses AI To Monitor Producers & Consumers
Datametrex has developed AI-driven tools to help producers and regulators manage quality assurance, as is Canntop’s technology. In addition, Canntop’s technology can help government agencies, cannabis factories, and retailers better understand consumer needs and trends in the cannabis industry.
Artificial Intelligence Data Is the Predictable King
Andrew Ryu of Datametrex said that our proven solutions and concentrating them on this sector will provide considerable value to growers, dispensaries, pharma companies, and governments. Furthermore, with marijuana legalization in many states over the next few years, AI systems like Canntop‘s artificial intelligence will have access to a wealth of data.
The cannabis sector is a great environment for AI firms to add artificial intelligence technology, and numerous AI companies are developing platforms to challenge the market. This was one of the reasons why Namaste Technologies (TSX:N) paid millions for artificial intelligence software and eCommerce company Findify in 2018.
Plant Vision Predicts Best Crop Quality Metrics
In 2019, startups like Motorleaf and Deep Green began creating tools that employ sensors to forecast yield size using similar technologies as Plant Vision. Plant Vision is also working on a platform incorporating various sensors into its analytics process to make recommendations about crop quality improvement.
Federal Legalization isn’t Far Off
It is an opportune time for the cannabis industry to be federally legalized. As new legal markets for selling and producing marijuana open up, companies that enter the market to serve cannabis consumers have greater capabilities than they had before ten years ago in optimizing production and sales operations.
On the other hand, technology vendors are discovering lucrative possibilities in the demands of an expanding and evolving cannabis sector. AI will play an increasingly significant role in this area as it develops; those who act now may profit handsomely later.
What do you see regarding artificial intelligence’s future within the cannabis industry?
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