Artificial Intelligence (AI) and blockchain technologies have already expanded the possibilities of the cannabis industry, especially the delivery market. Using AI to tailor search, product recommendations, and delivery capabilities to individual cannabis customers boosted sales and revenue. The use of chatbots has made finding which strain is right for you a smoother process. Just as other e–commerce businesses have started to use AI and machine learning and crypto technology to boost their operations, cannabusiness is well on its way to reap the advantages and benefits of these technologies. There are already companies using AI and machine learning technology to optimize cannabis market growth from seed to sale/delivery.
Even in places where recreational marijuana is fully legalized, not everyone can easily access a dispensary. In an industry that supplies people with medicine, catering to individuals that can’t easily travel could lead to a boost in sales. A Canadian company has already created an AR dispensary experience that aims to educate, invigorate the online shopping experience, and increase accessibility all at once. Thinking is it’s not a far-off idea that more companies will consider adopting AR technology for delivery services. Active Cannabis companies in the markets this week include NxGen Brands Inc. (OTCPK: NXGB), ISW Holdings, Inc. (OTCPK: ISWH), Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), KushCo Holdings, Inc. (OTCQX: KSHB), GrowGeneration Corp (NASDAQ: GRWG).
A report in Cannabis Business Times added that: “Blockchain, steadily gaining adoption in other markets, could be the next game-changing technology for the cannabis industry. Proven in mainstream food safety, pharmaceuticals and other sectors, blockchain-powered platforms offer potential benefits for everyone, from breeders with new genetics to consumers shopping dispensary shelves. Cannabis attorney Braden Perry, partner at Kansas City, Mo., law firm Kennyhertz Perry, helps companies implement novel and emerging technologies, including blockchain. An expert in enforcement, digital currencies, and regulatory and compliance issues, Perry suggests the easiest way to envision blockchain is to think of it as a digital ledger—one that contains a series of unchangeable records.”
NxGen Brands Inc. (OTCPK: NXGB) BREAKING NEWS: NxGen Brands, Inc. Integrates BTC & Cryptocurrency for Cannabis Delivery – NxGen Brands is updating all parties interested that we have successfully included cryptocurrency and artificial intelligence integration as part of our core secure delivery as the request for payment alternatives and security design. This service is to complement our SAAS licensing model for dispensaries across the country. The design will ensure that our customers will achieve a high level of compliance, validation, and security which is being achieved for state and federal oversight.
Blockchain is a validation technology which is efficient in confirming or registering a transaction or event in a manner which cannot be modified. Our main goal is to ensure secure transfers of custody. When the dispensary sends the order via the secure network, it starts with a secure identifier assigned to the transaction, it gets registered into the blockchain, afterwards anything that happens automatically gets added and the event get registered.
Artificial Intelligence is being incorporated, with the understanding that it will enhance the capabilities of the delivery network and software design, allowing us to keep pace not only with the cannabis industry, but be able to migrate to other revenue generating models of delivery and supply chain management integration. This allows for a higher performing application output and will assist in streamlining the real-time operations that this adds to the design.