The Cannabis Industry’s Efficiency Challenge: How Technology Is Leading The Way
The cannabis industry is booming, and businesses are racing to maximize efficiency and profitability through the latest and greatest in cannabis-tech. With Industry 4.0 upon us, commonly referred to as the Fourth Industrial Revolution, a variety of industries and businesses are incorporating technologies that encompass artificial intelligence (AI), robotics, computer vision, machine learning and automation; cannabis being one of them.
It’s no surprise that cannabis businesses haven’t had an easy time achieving scale and profitability over the last several years. But can this new wave of technology provide cannabis companies an opportunity to drive efficiency and profitability? Let’s take a look.
Firstly, the use of technology such as automation can help companies maximize their efficiency by streamlining processes and reducing labor costs. This type of technology can handle many of the repetitive and time-consuming tasks involved in cannabis cultivation, such as plant trimming, harvesting and packaging. In turn, this can free up workers to focus on more specialized roles such as quality control, research and development and customer service.
While some fear automation could wipe out job opportunities, others believe it could create bigger and better opportunities for employers to up-skill their existing workforce and focus on higher-level, more creative and fulfilling tasks. As the industry evolves, there will likely be a growing need for skilled workers in areas such as data analysis, AI programming and robotics engineering. Furthermore, by reducing the need for manual labor, businesses can reduce the risk of injuries and accidents in the workplace, creating a safer working environment for employees.
The Rolling Stone Culture Council is an invitation-only community for Influencers, Innovators and Creatives. Do I qualify?
Additionally, automation can help businesses meet regulatory requirements by ensuring accuracy and consistency in product packaging and labeling. The cannabis industry has experienced countless stories of product mislabeling that had negative impacts on both consumer safety and the bottom lines of businesses.
This begs the question: Why not bring cutting-edge technology, systems and processes commonly used in outside industries to eliminate these inefficiencies? For example, Sorting Robotics, a cannabis-focused industrial automation company, co-founded by Nohtal Partansky, a former NASA-JPL engineer, proves we can apply aerospace-level technology to enhance efficiency, overcome bottlenecks and automate repetitive tasks throughout the industry’s value chain. Over the years, cannabis has seen a multitude of highly skilled professionals with non-cannabis-associated backgrounds bring tremendous value to the industry.
Is it time that we don’t just look for talent in outside industries, but also technology?
Signs Are Pointing to Racketeering Charges in Georgia Trump Probe
Elliot Page: A Famous Actor Once Threatened to 'F-ck' Me to Make Me 'Realize' I Wasn't Gay
‘Ted Lasso’ Season 3 Finale: The End of a Frustratingly Bad Season
Bob Dylan Makes His Classic Songs Seem Stunningly Brand-New on 'Shadow Kingdom'
When it comes to making better, more informed decisions based on data, there are plenty of ways we’re seeing AI step in and help. Moreover, AI is also one of the more popular Industry 4.0 technologies people are talking about today with all the buzz surrounding ChatGPT. By analyzing data such as plant height, leaf size and nutrient levels, AI algorithms can make recommendations on how to adjust environmental conditions for cultivation. This can lead to increased yields and higher-quality products. Furthermore, AI can help businesses optimize their supply chain management by predicting demand and ensuring that products are available when and where customers need them.
At the end of the day, the Fourth Industrial Revolution is a game-changer for cannabis businesses, providing leaders with the tools they need to grow and scale their operations effectively and profitably. With automation, robotics, computer vision, machine learning and AI, cannabis businesses are more empowered now than ever before to optimize their production processes, reduce waste and improve product quality.