In this hypercompetitive phase, top cannabis operators need the right tech to pull ahead of the pack…
The cannabis and tech industries are among the most innovative, disruptive sectors of the twentieth century.
Many of the biggest tech sectors pull in hundreds of billions of dollars in revenues per year. Meanwhile, global cannabis demand reached nearly $400 billion last year, by some estimates – making it one of the biggest markets to emerge in decades.
They are also still incredibly young industries by business standards.
Whenever a new, breakout sector emerges that sends tremendous disruptive shockwaves throughout the economy, all sorts of new ideas start to arise for the first time.
And some of the best innovations happening in the cannabis industry right now are a result of the top companies utilizing exciting new technologies to get ahead of the competition.
The Role of Tech in Cannabis
I’ve written to you before about how the cannabis industry is going high-tech with new innovations in e-commerce, delivery services, and automation.
But these innovations are not just restricted to the retail side of things.
According to Marijuana Business Daily, companies like Cresco Labs Inc. (OTC: CRLBF), Exactus Hemp, and Bonsai Cultivation are implementing high-tech systems to automate and fine-tune their cannabis growing environments for maximum efficiency.
I’m talking about technologies that will allow them to produce more and better cannabis with less labor by carefully controlling environmental factors such as water, temperature, nutrient levels, and exposure to light.
A new tech partnership is driving the cannabis industry into the world of high-tech. Don’t miss Michael Robinson’s last cannabis-tech report right here.
Beyond that, high-tech approaches to protecting crops from diseases, and even improving their genetics, can be applied to cannabis as well.
Companies are even using digital integration to keep all of these variables precisely balanced with no need for hands-on human intervention.
A lot of these technologies already existed in agriculture and are now being adapted for use in the cannabis industry – creating a synergistic relationship where both cannabis and conventional agriculture support the other technologically as they optimize their own processes.
Cannabis Is Entering a Hypercompetitive Phase
The top cannabis executives understand that using technology to maximize efficiency and keep their own production as consistent as possible is not merely necessary to get ahead. Rather, it is absolutely critical for allowing their businesses to survive.
Marijuana is entering a hypercompetitive phase where companies will do whatever they can to edge each other out. And in my experience, the win is going to go to whichever firm has the right tech in the right place.
This is a process that happens with any novel industry or business sector and cannabis is no exception.
The cannabis industry is not only an outstanding opportunity for high-tech solutions to improve business performance, but the newly legalized nature of cannabis makes it behave similarly to a newly discovered technology.
And part of the growth process for any newly discovered technology is separating the wheat from the chaff – or the winners from the wannabes – where new companies are concerned.
In the long term, the advantage that these early breakout leaders will have is going to make them outstanding investment opportunities for folks like you.
The best companies will continue their innovation streaks, while also buying businesses or assets that will have something going for them: technology, advanced equipment, market share, or some other advantage.
It’s a cycle that helps catapult new industries right into the mainstream, and I’m thrilled to see cannabis companies utilizing tech to get ahead of the pack.
To help you sort out which cannabis companies are doing it right, my friend and colleague, Executive Director Don Yocham, put together this list of 10 stock recommendations under $10 that could put you on the path to life-changing wealth.
I encourage you to check it out right here.
Cheers and good investing,
Michael A. Robinson
Advisory Board Member, National Institute for Cannabis Investors
2 responses to “Cannabis Companies Need the Right Tech in the Right Place to Win”
June 30 2020