Now that “legalize it!” is quickly becoming reality more than rallying cry, there are opportunities for AI and ML to step in. The role of AI in the legal cannabis industry is starting to take shape and could have far-reaching application in other arenas.
AI and Machine learning have seen huge advances over the last few years. We are able to make predictions to determine what will happen with the industry in the future. This is important for the cannabis industry as we can now accurately see what the future holds, whether you are an investor in the cannabis industry, a potential retailer, a licensed grower or beyond.
Growing Cannabis and Harvesting It
This is 2019, so naturally, there’s an app for that. And it’s here where the role of ML and AI in the legal cannabis industry is first planted. Yes, we’re going with this analogy.
The legal cannabis industry is no different in terms of available apps that incorporate complex systems. These days, farmers no longer have to compromise their bodies, working long days to harvest their crops of cannabis.
WaterBee is a European-born app which can accurately determine how much water your crops are getting. The best part? You can determine this remotely. While this technology might not have been made exclusively for cannabis, the way it works is much the same. So what does WaterBee do? Well, it’s kind of in the name. WaterBee prevents over-watering. Additionally, it can help farmers use almost half as much water which saves time and resources.
Another one, called “Grownetics” comes in handy for cultivation management systems in greenhouses and indoor farms. Grownetics uses a high definition sensor which shows you the climate of your indoor farm/greenhouse. How? By using a micro-climate weather app. It comes with technology you can use to adjust certain factors, like temperature or humidity, either remotely or in person.
Moving right along, the role of ML and AI in the legal cannabis industry sprouts into… the actual growing process.
What is the best strain to produce? While this can be subjective, a lot of people do go through the trial and error process. Not unlike finding the right car, soft drink, or anything else with subjective taste; legal cannabis is about variety.
Enter: Apps. In today’s landscape, there are apps which can be used to narrow down that trial and error process. Potbot is one of these applications. Potbot is an AI/ML driven app that can go through thousands of strains to narrow down which one is best for you.
Potbot’s system runs through peer-reviewed journals as well as studies on what strains of cannabis are used for a particular need. After compiling this information, it presents you with a greater chance of knowing exactly which strain would suit you, or your potential customers, best.
In this day and age, is there anything better than having things delivered right to your door? We all do it with Amazon and eBay. Heck, we’re even getting food delivered through sites like Uber Eats.
These are all great, but they do require a person to deliver the product to the door. In the near future, we might see driverless cars or machines doing the work for us. In the UK, these technologies are already in the works. So getting cannabis on a dime will likely be in the cards in a few years.
One company known as AppSwarm is providing shipping and logistic support through their “Delivery Swift” program. Delivery Swift is an On-Demand logistics last mile delivery platform. It acts as an intermediary between merchants and prospective buyers who wish to get products from delivered to their doorstep. Delivery Swift’s focus is direct to consumer deliveries. Their supported products include groceries, furniture, pharmacies, and of course: Cannabis dispensaries.
Investing can be difficult, and in some cases, a little bit impossible. However, technologies are on the way to help make smart investments. One app to take note of is calledVantagePoint.This app can help you make smart choices in investing in stocks. Additionally, it offers predictions on which ones are worth investing in. Forecasting cannabis stocks is now part of VantagePoint. This offers a wide array of possibilities such as bolstering a portfolio.
Here’s what VantagePoint had to say:
“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.”
The legal cannabis industry is still in its infancy. Legislation is being passed (or repealed) every year. It’s too early to tell what the future holds. However, if recent years are any indication, there’s a lot to be hopeful for. The role of AI in the legal cannabis industry is just one of those areas. Before too long, the legal cannabis industry will join other industries in innovating new methods of quality control, acquisition, logistics, and more.
What we see from the role of ML and AI in the legal cannabis industry is that even in the short time the industry has been, well, legal; technology is starting to create new avenues for the industry to grow.
What does the future hold? Well, we’ll just have to wait and see what it grows into. Yes, this pun was also intended.