Explained: Three Ways A.I. will Transform the Cannabis Industry by 2020

Artificial intelligence is changing the way of doing business for every industry, from general manufacturing to the medical cannabis industry. The next generation of technology is all about using data for the effective utilization of the resources while keeping the operational costs to the minimum. Today, we will talk about the role of artificial intelligence in improving the quality and supply chains for the cannabis industry.

Like every other industry, Cannabis is also leveraging many exciting benefits with the use of artificial intelligence, especially as a resolution to the supply chain challenges. These challenges are holding the cannabis industry back to pace up with the increasing demand in the marketplace. Many other problems could arise out of poor supply chain conditions such as:

• Lack of retail locations
• Poor quality product
• Unnecessary delays
• Unauthorized selling

Artificial intelligence is preferred for streamlining the business process for improved efficiency. The A.I. based solutions are deployed for every level of the business from production to supply chain and customer satisfaction.

3 Ways Artificial intelligence can help the Cannabis Industry to Revolutionize

Artificial intelligence is considered a significant revolution in the world of technology. It will help businesses to drive better customer experiences by keeping track of their data, preferences, behaviors, and other patterns. Three exciting ways that A.I. will genuinely revolutionize the quality and supply chain management for cannabis industry are:

• Streamlining Cannabis Compliance with Automation

Automation is the buzz term associated with artificial intelligence. It has significant implications for the cannabis industry too. Relying on the manual models to ensure product conformity can turn out to be inefficient and dangerous, mainly when the rules differ from region to region.

The best advice for maximum compliance is – Don’t take unnecessary risks. Make use of the A.I. algorithm and automate the processes to stay away from the issues. The next-generation technology is capable of resolving the problems quite efficiently. Many digital mature companies prefer to have a well-defined A.I. strategy for improved productivity and profitability.

The automation of compliance could save cannabis companies from severe repercussions, not limited to financial. It could protect from penalties too. Using the right quality management software and artificial intelligence could bring peace of mind for cannabis manufacturers since they would have a better hold of activities like license management, inventory traceability, nonconformances tracking, and much more.

However, it’s entirely a business’s choice to utilize any software to automate compliance-related activities. The most important thing is to integrate the elected software with the existing systems and processes to ensure maximum quality and compliance since it sets the stage for better returns on the investments.

Related Article : Stages & Challenges of Quality Management in Cannabis Industry

• Providing the Consolidated Data Infrastructure for Improved Decision Making

For the industry like Cannabis, it tends to become hard to lend money from traditional banks due to the federal restrictions. A.I. plays a significant role here. It helps cannabis companies to keep track of their investments, and they can use this data to create their future roadmap.

With the use of artificial intelligence to collect data for years, cannabis companies could have a mature data inventory. It will not help them to drive better customer service but also to streamline their supply chain activities. Data is the most powerful asset that cannabis industries can put to work. The critical insights will help them make better business decisions, outlining the new growth opportunities in the pipeline.

We can say that data is money. Such insightful technology can help businesses to track their operations, including the sales. The companies could end up mitigating many roadblocks with the use of analytics data, which will eventually help them generate more revenue in lowered operational costs.

Would you still let the power of data be subsumed? Or will create a data infrastructure to strengthen your operations and decisions with mature insights. The choice is yours!

• Drive Value through Supply Chains

Analyzing data is something in practice for a long time – earlier by humans and now using artificial intelligence – to make better decisions. But, implementing those decisions is something that still human does the best by integrating available systems and diversified information resources. The most important thing that companies need today is understanding the data and insights to map the potential growth and improvement opportunities, especially for the supply chain activities that are highly vulnerable to the errors.

It requires senior management in action. They should review and evaluate the analytics tools they are currently using. Is the tool efficient enough to fetch more significant insights into the supply chain? The more information they will be able to bring, the better actions they will be able to take. And, A.I. is the data tool to help future centric companies the most to mitigate inefficiencies and increase revenue

The analytics can help cannabis companies to go a long way, in terms of growth, since they need to maintain the supplier quality at different levels. The more value they will bring to business with A.I. intervention, the higher will be chances of success for them since the data will help them to take the right steps for the customer as well as employee satisfaction.

The most important thing that everyone should understand and make a note of is that A.I. could lead to dismissal of human interaction. It is not valid. The most critical thinking required to use the data comes from humans only. Hence, the A.I. and human can be integrated to make the savviest combination to make significant improvements, especially for cannabis supply chains.

Hence, cannabis industries should not delay integrating A.I. in their business processes – whether it’s about making better decisions or fostering a culture of quality and continuous improvements.

To unleash the maximum potential of A.I., you need to have robust quality management systems in place that can be easily integrated with third-party applications seamlessly. One such solution is Qualityze EQMS Suite. It is robust and secure quality solution, built on the Salesforce platform, that helps achieving quality and compliance standards by streamlining the quality processes. You can integrate it with A.I. to get more detailed insights and transform your QMS into a quality decision-making engine.

Qualityze EQMS leverages flexibility, reliability, scalability, and compliance with its advanced features and next-generation functionalities like eSignature, Audit Trail, Alerts, Notifications, Dashboards, Reports, and much more. The configurable workflows and user-friendly interface completely redefine the experience in quality management for your business.

It requires no infrastructure or maintenance costs. You can have more insights by requesting a free demo today.

Have more queries regarding quality management and supplier quality management with A.I. in Cannabis? Get in touch with our customer success team on 1-877-207-8616 or write to us at info@qualityze.com, and we will be right there for you!