Cannabis tech startups are sprouting up around the United States, Canada, and other areas around the globe. In a competitive industry, companies will benefit from staying on top of the latest IT trends.
Tech trends are defined as one that has the potential to have a significant impact on the way industries will operate in the foreseeable future. In this article, we will cover five trends that cannabis companies should incorporate into their 2020 business plan.
CBD and marijuana dispensaries can benefit from digital signage as it will help companies grow with innovative solutions. By embracing this trend, companies can craft immersive environments to enhance customer experience and brand image.
Digital signage can be used by dispensaries to play informational videos as well as create interactive kiosks and instructions about how best to use the product. It can also help by creating a more straightforward payment process.
AI and Machine Learning
Artificial Intelligence and Machine Learning facilitate data for cannabis companies so they can improve consumer outreach and strategic marketing. Chatbots, for example, can identify patterns and customer queries and seek out solutions.
AI understands the details of different strains and can get to know what’s best for an individual customer. These technologies can also help growers automate systems to increase consistency in production and decrease expenditures and costs.
Cannabis has quickly emerged as a big-money industry that needs proper support systems to make sure that operations run smoothly. There are many hurdles in place because of the legal atmosphere surrounding the industry.
Blockchain can help streamline a process that is impeded by a lack of banking support, changing regulatory norms, and the problem of drawing in constant investment. Cryptocurrency can be used to make business more secure and developed, even with the absence of state protection.
Cryptocurrencies can become a usable form of payment for cannabis companies. These transactions are safe, cashless, and quickly exchanged from anywhere in the world. Today, there are seventeen cannabis-related cryptocurrencies, including HempCoin, DopeCoin, and PotCOIN.
Blockchain technology can also oversee cannabis operations in the growth and the dispensary. A ledger system can help you manage the supply chain and the inventory process. It can also be used to track the progression of a plant.
Discreet Consumption Tech
Even though marijuana is headed to the mainstream and is mostly legal in many states, there are situations where you don’t want to be necessarily hitting a vape pen. Today there are so many ways to reap the benefits of the plant without having to use traditional methods.
CBD tinctures, edibles, and cannabis beverages are some of the oldest discreet forms of consumption. Now you can add a little bit of THC powder to your morning coffee. Women who have painful menstruation can even use CBD infused tampons.
Cannabis technology can help change the way that we interact with the ancient plant as startups focus on truly innovative ideas. As more states and countries legalize marijuana, and the market expands, the technologies will likely evolve at rapid speed.
Right now, cannabis companies are using the latest tech and data trends to automate and improve every step of the production process, from seed to sale.