In Paybotic's view, the cannabis industry is becoming more technologically advanced as marijuana's popularity continues to rise. It is possible to manage the entire supply chain of cannabis using blockchain technology. It can also manage the inventory process and track plant progression. With the legalization of cannabis in more states, there are more cannabis products on the market. In spite of this, the industry as a whole isn't ready for these kinds of advancements just yet. However, it is important to keep in mind that the cannabis industry is on its way to mainstream recognition.
As an example, Tesla's Powerwall and Powerpack technologies allow cannabis businesses to store electricity. Because of this, they can buy it at off-peak hours and use it to power their equipment. Over time, this can save growers a significant amount of money. To date, however, Tesla has made no announcements about entering the cannabis industry. But it is possible to assume that they will. If they do, they can use the tech to make their businesses more transparent.
Technology is essential for cannabis businesses to thrive. Businesses must increase customer base and secure repeat business. Unfortunately, standard marketing technology and CRM are not designed for this industry. The cannabis industry needs custom-built marketing automation and CRM systems that can cater to the industry's specific needs. These systems also provide real-time analytics of sales data, which can improve pricing and uncover customer insights. In addition to these tools, fulfillment and delivery apps help businesses reach a wider audience and offer convenience to customers.
Financial software for cannabis companies is also essential. Many alcohol companies rely on business intelligence and analytics software. However, they are not as sophisticated as cannabis businesses. For example, a restaurant may have 30 items on its menu, while a dispensary may have 300 or even 3,000. This means that it is imperative that dispensaries have a POS system that can scale to handle such an extensive volume of sales.
Aside from the security technologies, the cannabis industry also uses various types of tools, including dispensary robots and APIs. According to Paybotic a recent Grand View Research report, the legal cannabis market will be worth nearly USD 9.1 billion by 2028. But if it is a legal industry, that number could grow as high as $27 billion. And the growth rate will accelerate to 26.7 percent per year.
With all these benefits, the marijuana industry is a lucrative industry to be in. As a result, many tech positions are available within the marijuana industry. Some companies are able to hire remote workers, but most are fully in-office positions. And some even offer telecommuting options. So, regardless of where you choose to work, cannabis tech jobs are not only rewarding, but also highly satisfying. So, if you're a tech professional, why not take advantage of this great opportunity?
Software engineers build software and systems. They work with software designers and managers to create apps, test them and identify defects. They work with testers to fix bugs in programs, document their processes, and update security standards. A cannabis tech company might hire a software engineer to build apps to interact with customers and track medical marijuana care plans. That way, users can easily access their accounts and track their prescriptions. Moreover, the software developers can also work on improving the apps for dispensaries and delivery systems.
Apps can play a critical role in the cannabis industry. Some apps can help you find a nearby cannabis dispensary. Another app is Leafly, which offers users loads of information about marijuana strains, including user reviews. Another application developed by Althea Group Holdings, called Concierge, brings cannabis-related data and expertise to a single, streamlined platform. With these apps, you can manage your cannabis dispensary, save time and make it easier for your customers to purchase products.
Paybotic pointed out that, while many industries have had their fair share of technological innovations, cannabis is no exception. Smart technology has made marijuana cultivation less labor-intensive and has the potential to improve productivity by delivering the goods to consumers. Smart heaters and sensors enable marijuana cultivators to control the temperature of soil remotely. In addition to making the entire process less time-consuming and more controlled, these tools are also saving marijuana farmers a lot of money.
