(This story is part of the cover package in the May-June issue of MJBizMagazine.)
For years, cannabis retailers have taken cues from more established industries, applying their best practices, systems and business processes.
However, in one increasingly important area, the industry is well ahead of other retail consumer segments: utilizing artificial intelligence to make business decisions.
And surprisingly, regulatory compliance is a big reason for that.
ADVERTISEMENT
Analyzing track-and-trace data
State-mandated track-and-trace systems often draw widespread ire but also provide clear insights on so-called first-party data, or transactional information about when a product sold, the price and what else was in stock at the time of purchase.
Every cannabis point-of-sale system provides this data, and AI applications are helping turn these metrics into actionable
Read full article on Marijuana Business Daily
