There are technologies that are specifically tailored for the cannabis industry analytics and industry, but more importantly, technologies are driving the entire industry forward.
These technologies will power everything from significant corporations to home growers alike.
1) Packaging Technology
Packaging technology for any product is likely just as important as its actual creation, if not more so. Cannabis packaging needs to be a childproof, smell-proof container that is also tamper-evident.
Even though the cannabis industry is still in its infancy, some companies are already tackling this problem.
2) Testing Kits & Technologies
Testing kits have been a critical component of the marijuana industry since its inception. It is due to many different factors, from mislabeled products on dispensaries’ shelves to false claims of certain strains’ THC levels.
In addition, there are a variety of testing kits & technologies that will help provide a clearer picture of the cannabis industry as a whole.
3) Online Dispensary Marketplaces
The online dispensary market is burgeoning with opportunities. Whether it be an eCommerce platform like Eaze or a patient-centered marketplace like HelloMD, there are many avenues for potential in the industry.
4) Systems that can help track plants throughout their growth cycle
From seed to sale, there are many gaps in the cannabis supply chain. It is where technology tracks the plant throughout its entire growth cycle.
It can benefit dispensaries, growers, and regulators alike as it provides a better understanding of what happens to each product throughout its lifecycle.
5) Financial Services & Investment Opportunities
With cannabis still being a grey market, there are very few financial services available to the industry.
As more business-to-business and business-to-business transactions evolve, there will be a clear need for other technologies that can help facilitate these transactions.
6) Digital/Social Marketing Platforms
Like any other high-profile industry, digital and social marketing platforms are critical to the cannabis industry’s growth.
With governments slowly starting to open their doors to legal cannabis sales, there will be a need for internal and external communication tools that can help convey the needs of those within the industry.
7) Systems For Tracking & Controlling Inventory
With the inherent flexibility of cannabis, businesses that can track product inventory will be at a significant advantage.
Having detailed records on where your product is located in your facility, having an accurate estimate of when it can be shipped out, and seeing quick turnarounds are the norm for technology-driven companies.
8) A Quality & Robust Delivery System
Always avoid the days of having a website that accepts orders and ships them via a third party. There is a shift towards a more personalized approach, specifically with delivery services.
Ensure that you have an in-house dispensary in addition to an in-house production facility allows for much faster deliveries. It is one of the essential components of growth for any business in the cannabis industry.
9) Having Access to Quality Cannabis Genetics
Cannabis genetics are not only integral when it comes to breeding, but they also help provide patient-centered solutions for specific ailments.
Ensuring you have access to quality genetic information will allow dispensaries and growers to provide more targeted and practical solutions to their customers and patients.
In conclusion, there are an array of technologies that will provide invaluable tools to the cannabis industry. The key takeaway is that technology can help introduce transparency, safety, and accountability into all aspects of the sector.