AI-Driven Agriculture: The Marijuana Game-Changer
By John Persinos
Snap quiz: What was the first item ever sold on the Internet?
[cue the theme from Jeopardy]
Time's up. The answer: marijuana.
Surprised? Well, it's true. In 1972, long before the advent of e-commerce, students from Stanford University in California and MIT in Cambridge conducted the first ever online transaction. Using the Arpanet account at their artificial intelligence (AI) lab, the Stanford students sold their counterparts in Massachusetts a small amount of marijuana.
Fast forward to 2024. Marijuana is returning full circle to its AI roots.
AI is permeating all aspects of society and cannabis is no exception. The biggest technology game-changer in cannabis right now is a specific application called AI-driven precision agriculture. If you're a growth investor looking for "the next big thing," you've found it.
AI-driven precision agriculture combines the power of AI with advanced agricultural techniques to optimize every aspect of marijuana production. By enhancing efficiency, quality, and sustainability, this technology is transforming the cannabis sector.
AI-driven precision agriculture involves the use of AI algorithms and machine learning models to analyze vast amounts of data collected from various sources, including sensors, drones, satellite imagery, and historical crop data.
This data is used to make informed decisions about planting, irrigation, fertilization, pest control, and harvesting. The goal is to maximize yield, reduce waste, and minimize environmental impact.
Technology and weed are increasingly intertwined. The North America cannabis technology market size was estimated at USD 12.70 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 28.3% from 2024 to 2030 (see chart).
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