Industrial Hemp is Valued
Industrial hemp is valued for its fiber, food, and medicinal properties. Hemp is cannabis grown for non-drug uses. In addition to being grown for fiber, seeds, and oils, hemp also contains very low levels of delta-9-tetrahydrocannabinol (THC), marijuana’s psychoactive ingredient.
Hemp and Marijuana are Different
There’s usually less than 0.3% THC in hemp, but between 2% and 20% in marijuana varieties grown for medical or recreational purposes. A hemp plant can’t have more than 0.3 percent THC. Farmers need USDA approval to plant hemp, and states need to create hemp industry strategies.
Hemp Can Make Over 25,000 Things
More than 25,000 products can be made with hemp, including bible pages, clothing, footwear, textiles, bioplastics, paper, and even car parts! Hemp is also a biodegradable building material and biofuel. Besides animal feed and edibles, hemp seeds can also be used to make lotions and cosmetics. Farmers in the U.S. grow hemp for its grains and fiber, but some grow it for its CBD.
Worldwide Hemp Production
Like Colorado, European hemp production is recovering as organic seeds for food and CBD oil products become more popular. Most industrial hemp products sold in the United States are imported from Canada, China, Europe, and other countries that haven’t banned the crop over the past decade.
Europe Allows Flax and Hemp
In the twenty-first century, hemp got new attention thanks to EC regulations. Regulations set support schemes for some crops, including industrial hemp. The European Commission introduced support for flax and hemp.
Hemp Farming is Still Tough
Even though hemp is allowed in the states, thanks to the farm bill, farmers still have to worry about raids by federal agents, jail time, and seizure of their property and assets because federal law does not separate hemp from marijuana. Industrial hemp is banned in most countries due to its resemblance to drugs/medical marijuana. It has been reintroduced through state pilot programs, but challenges still remain.
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?
Decode Cannabis Business Challenges: A Simplified Perspective
The cannabis industry is growing rapidly across the United States, but it still faces many challenges.
The cannabis industry is growing rapidly, but it still faces many challenges
Cannabis Business Challenges. Here is an analysis, identifications, and solutions for your cannabis business to succeed along with the regulations. With more and more states legalizing the substance for both medical and recreational use.
This exciting new field still has a long way to go before it becomes fully mainstream. One major obstacle is the fact that cannabis remains illegal at the federal level, creating confusion and hindering the industry’s ability to operate like any other legitimate business.
While cannabis companies can now apply for trademarks and patents, they often struggle to secure bank loans or find suitable commercial spaces due to cannabis’ ambiguous legal status.
There are also issues related to cannabis testing and safety regulations, as well as taxes that are higher than those imposed on traditional industries. Despite these challenges, the cannabis market continues to pave the way for a thriving, legitimate need.
There are some common challenges that can trip up businesses if they’re not prepared for them. Navigating these challenges early on and building a foundation that allows you to adapt when regulations change will be critical for your success in the cannabis industry. Some of the key challenges to watch out for include:
- Access to capital: Cannabis businesses have traditionally had trouble accessing traditional forms of financing, such as loans from banks. This is changing as the industry matures, but it’s still something to be aware of.
- Compliance with regulations: The cannabis industry is highly regulated, and that can pose challenges for businesses that are not prepared for it. Keeping up with changing regulations is essential for businesses in this industry.
- Supply chain issues: cannabis businesses can have trouble sourcing quality cannabis products due to the fragmented and unregulated nature of the supply chain. This is a challenge that is likely to improve as the industry matures and more standardized protocols are put in place.
- Public perception: There is still a lot of stigma surrounding cannabis, which can make it difficult for businesses in this industry to gain mainstream acceptance. Working to change the public’s perception of cannabis is an important part of success in this industry.
The biggest challenge is the lack of regulation and standardization
When it comes to marijuana, a lack of regulation and standardization presents a daunting challenge. In Massachusetts, for example, the Cannabis Control Commission is tasked with both setting and enforcing rules for dispensaries and products. However, without a similar body at the national level, states are left to navigate the rapidly growing industry on their own.
This leaves room for confusion and inconsistency, from varying levels of THC in products to unclear marketing guidelines. As more states legalize cannabis, it’s crucial that we establish clear regulatory measures to ensure consumer safety and fairness within the industry. Otherwise, the challenge presented by a lack of standardization will only continue to grow.
This makes it difficult for businesses to operate in the industry
The CCC, or Cannabis Control Commission, is the regulatory body for marijuana businesses in Massachusetts. Despite the legalization of recreational marijuana in the state, operating a cannabis business can be a challenging task. Due to federal laws and banking restrictions, many marijuana businesses are forced to operate on a cash-only basis.
This significantly limits their ability to expand and increases their vulnerability to theft. Additionally, stringent testing requirements and strict packaging and labeling laws add extra costs and obstacles for marijuana companies. It may be legal to sell recreational cannabis in Massachusetts, but that doesn’t make it easy for businesses to thrive in the industry.
Another challenge is the perception of cannabis by the public
The perception of cannabis – long framed as a dangerous drug – remains a challenge as legalization continues to spread across the country. Legalization efforts have often focused on the economic potential of cannabis, but there is also a need to destigmatize its use and address the devastating impact its criminalization has had on communities of color.
This perception shift won’t happen overnight, but it starts with promoting social equity in the industry and addressing negative stereotypes through marketing that highlights the various benefits of cannabis for medical use, personal wellness, and more. Only by creating a more nuanced understanding of cannabis can we truly move past this perception challenge and fully embrace legalization.
There is still a lot of stigma associated with cannabis use
The stoner stereotype persists in today’s society, but the truth is that marijuana use is becoming increasingly normalized and accepted. Gone are the days of the lazy stoner who doesn’t have any drive or ambition. Some of the world’s most successful business professionals and athletes use cannabis for its numerous health benefits.
More and more states are legalizing both medical and recreational marijuana use, and organizations like NORML are working to end the stigma attached to it. So next time you’re tempted to judge someone for using cannabis, think about how they might just be trying to live a healthier, happier life.
Don’t let outdated stigmas prevent you from exploring the possibilities of marijuana use yourself.
The final challenge is the availability of banking services for cannabis businesses
In Massachusetts and across the country, banking services for cannabis businesses remain a major barrier to success. Without banking options, these businesses often rely on cash transactions and are unable to make investments or secure loans. This lack of financial resources can limit growth and prevent them from competing with larger companies.
It’s no surprise that cannabis companies in states where banking is available have a significant advantage. So why hasn’t banking become more accessible for the industry? Federal laws still classify cannabis as a controlled substance, creating legal complications for banks that choose to provide services to related businesses.
Hopefully, as public opinion shifts and cannabis becomes more mainstream, banking barriers will also begin to crumble and these businesses will have more access to capital for growth and development. Until then, it remains a crucial challenge to overcome.
Cannabis Challenges Conclusion
The cannabis industry is growing rapidly across the United States, but it still faces many challenges. The biggest challenge is the lack of regulation and standardization, which makes it difficult for businesses to operate in the industry. Another challenge is the perception of cannabis by the public.
It is still stigmatized to use cannabis in many settings, and this can be a major obstacle for businesses trying to break into the market. The final challenge is the availability of banking services for cannabis businesses. Until this issue is resolved, businesses will continue to face significant financial difficulties.
What other challenges face the cannabis industry in legal states? Let us know in the comments.
Here’s Why Weed Should be Marketed Like Wine
Wine is a sophisticated drink that is enjoyed in a relaxed setting. Weed should be marketed in the same way, as something that can be enjoyed with friends.
Wine is Seen as a Sophisticated Drink Enjoyed at Social Gatherings
It’s time for weed to receive the same level of social acceptance as wine, and should be marketed the same way, too. Why toast with a glass of Cabernet when you could indulge in a joint or edible of high-quality cannabis? Both wine and cannabis can enhance the flavors of a good meal, elevate conversation, and bring people together in a gentle and enjoyable stoned state of mind.
Cannabis Consumption has Less Health Risks
In fact, cannabis consumption is often far less detrimental to one’s health than excessive alcohol consumption. So why not swap out that bottle of pinot noir for some carefully curated strains of cannabis at your next social gathering? Let’s lift the stigma surrounding cannabis and give this herb the sophisticated status it deserves. Cheers!
Weed Should be Marketed in the Same Way, as Something that can be Enjoyed in a Relaxed Setting with Friends
Who says weed can’t be enjoyed just like a fine wine? In our society, we are all too quick to judge weed smokers and label them as “lazy stoners,” but in reality, weed can provide the perfect accompaniment to a relaxing evening with friends. This is where the power of marketing comes into play. Weed should be marketed as a social activity, comparable to having a glass of wine or sharing a cigar.
It Enhances Life Experiences
Focus on the aromas and flavors, promote it as a way to enhance food, music, and conversation. Instead of viewing weed as something dirty or shameful, let’s reframe it as an adult indulgence to be savored and enjoyed in good company. It’s time for weed to step out of the shadows and into the sophisticated social scene.
The strains of weed could be labeled like wine, with different flavors and levels of potency
Have you ever strolled through the marijuana dispensary, puzzled by the array of strains available? With names like Blue Dream, Pineapple Express, and OG Kush, it can be hard to understand the difference between them. Just like labels on a bottle of wine list the grape varietal and region, marijuana strains could potentially be labeled with information about their flavor profile and potency.
Environment Variables Change the Produced Product
These differences are primarily attributed to terpenes, aromatic compounds found in marijuana (and many other plants) that not only contribute to taste and smell, but also have potential therapeutic effects. This labeling system would provide consumers with valuable information for choosing marijuana strains based on their desired sensory and medicinal experience. In our increasingly legalized and regulated marijuana market, implementing strain labeling could lead to a more nuanced understanding of this diverse plant medicine.
Just like wine, There Would be a Variety of Prices for Different Types of Weed
Weed, just like wine, has a wide range of quality and pricing. Just as wine enthusiasts determine quality based on the type of grapes used, weed connoisseurs base value on the strain and cultivation method. And just as bottles of wine line the shelves with varying prices depending on quality and brand, so too can one find different types of weed with prices ranging from budget-friendly to high-end.
Not all Weed is Equal, Just Like all Grapes Aren’t Equal
So next time you’re browsing your local dispensary’s shelf, remember that just like with wine, not all weed is created equal. Pick a strain that suits your taste and budget, and enjoy the unique variety that the world of weed has to offer.
People who Enjoy Smoking Weed Could Become Just as Passionate About it as Wine Lovers are About Their Favorite Type of Wine
Just like wine lovers will wax poetic about the terroir of their favorite vineyard and the specific grape varietals used in a particular vintage, marijuana connoisseurs can be just as passionate about their favorite strain. Similar to wine grapes, different strains of weed have unique flavor profiles influenced by factors such as the strain’s genetic makeup, the terpenes present, and even the soil and elevation where it was grown.
Passion for Grapes is Just Like Passion for Marijuana
However, unlike grapes which are often mass-produced in large commercial vineyards, marijuana is often grown by small-scale farmers who personally tend to each plant. This passion for cultivation ensures that every puff of a hand-selected bud is bursting with flavor – perfect for any cannabis aficionado looking to enhance their smoking experience. Who knows? You may just find yourself developing a passion for weed worthy of any fine wine connoisseur.
The parallels between wine and weed are many, but there are still some areas where the two could learn from each other. Wine is often marketed as a sophisticated drink that should be enjoyed in a relaxed setting with friends. Weed should be marketed in the same way, as something that can be enjoyed in a relaxed setting with friends. The strains of weed could be labeled like wine, with different flavors and levels of potency.
Just like wine, there would be a variety of prices for different types of weed. People who enjoy smoking weed could become just as passionate about it as wine lovers are about their favorite type of wine. What type of labeling and marketing similarities did we miss? Let us know in the comments.
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