How California’s Cannabis Industry is Leading the Way with AI and Digital Platforms

California is one of the most influential and innovative states in the cannabis industry, with a vibrant market that attracts entrepreneurs, investors, and consumers alike. In a recent panel discussion hosted by Benzinga, three prominent women shared their insights on the current trends, challenges, and opportunities shaping the cannabis industry in California, with a focus on the role of AI and digital platforms.

Alexa Alianiello, the head of cannabis at X, formerly known as Twitter, highlighted the importance of digital platforms in fostering a strong and diverse cannabis community. She said that X is a place where people come to connect with the conversation around cannabis, with over 40 million annual posts on the platform. She also noted that California is a leader in the cannabis conversation, with 10,000 daily posts from the state.

Alianiello pointed out the shift in public perception and attitude towards cannabis, especially among the younger generation. She said that the highest engagement content on X focuses on community, mental health, and policy, showing the broadening scope of cannabis-related discussions. She also said that the platform is contextually aware, meaning it can change the way information is displayed depending on how the user interacts with it.

The Challenge of Distribution and the Innovation of Closed-Loop Vape Systems

Wendy Berger, a board member of Green Thumb Industries, a leading cannabis company in the US, brought attention to the market’s landscape, comparing it to the fashion industry. She said that the market is constantly evolving and changing, with new products and trends emerging every day. She also mentioned the resurgence of closed-loop vape systems, which are devices that use pre-filled cartridges that can only be used with a specific battery. She said that these systems offer more convenience, safety, and quality to consumers, and that California is at the forefront of this innovation.

However, Berger also highlighted the significant hurdles that the cannabis industry faces in California, particularly in terms of distribution. She said that there are not enough dispensaries in the state, and that many counties have little to no cannabis businesses. She said that this poses a challenge for expanding market access and reaching more consumers. She also said that the industry needs more policy change and regulatory clarity to ensure a level playing field for all cannabis businesses.

The Impact of AI on Business Strategy and Customer Insights

Emily Paxhia, the co-founder of Poseidon, a cannabis-focused investment firm, expressed her enthusiasm for the use of AI in the cannabis industry. She said that AI can help cannabis businesses enhance their operations and customer insights, by providing data-driven solutions and recommendations. She said that AI can help businesses optimize their production, marketing, and sales strategies, as well as understand their customers’ preferences and behaviors.

Alianiello introduced “Grok”, an AI chatbot that can analyze platform data and provide answers to questions. She demonstrated the power of Grok by asking it: “How will technology and advancements influence the cannabis market?” Grok answered: “As a platform where people can share their thoughts, opinions, and experiences, X can help shape the cannabis market by influencing consumer demand, product innovation, and social impact. Technology and advancements can also help the cannabis market by improving efficiency, quality, and safety across the supply chain, as well as providing more transparency and accountability for the industry.”