In today's rapidly evolving cannabis industry, successful businesses must stay ahead of the curve and embrace emerging technologies like ChatGPT. Although integrating artificial intelligence (AI) into the workplace may seem burdensome, the rewards for doing so are immense. From improved authenticity to enhanced production, the benefits of ChatGPT and related technologies are endless. As Poseidon’s managing director, my team and I began to explore how AI can impact five key areas of the cannabis workplace.
If used to its maximum potential, ChatGPT is capable of streamlining data analysis. For example, AI tools can review years' worth of notes and identify the most commonly asked questions of front-line workers. Additionally, AI tools review contracts swiftly, reducing legal costs without deemphasizing the importance of legal counsel. Not to be forgotten, ChatGPT can review large CSV files of sales data or financial models. Utilizing AI tools to complete complicated reviews of vast data sets saves time and compliments the efforts of trained data analysts.
Not only can artificial intelligence save time for trained data analysts, but it can also help new employees use their time more efficiently. Some cannabis founders have found that they can simplify the onboarding process by using AI to generate concise summaries of laws, regulations, complex policies and sales-related knowledge. This ensures a smooth transition into the cannabis industry by equipping employees with effective strategies to handle daily responsibilities. The cannabis industry is complex and full of inherent contradictions that often confuse new employees. Using ChatGPT to tailor training to the individual onboarding member can accelerate the uptake of this information and improve the workplace.
Artificial intelligence can accelerate the uptake of important information among existing team members as well. Through fostering company-wide discipline and commitment, cannabis founders can use ChatGPT to play a pivotal role in building and maintaining internal standard operating procedures and customer FAQs databases. Centralizing knowledge enhances operational efficiency and elevates the quality of customer service. For example, a wholesale manager must go through a complex series of steps and checks every time they accept a delivery and input the product into the point of sale system. In this case, AI tools can help with process adoption and guidance if programmed correctly.
Artificial intelligence is also useful because it can save the most valuable resource of all — time. ChatGPT can help cannabis industry professionals save time by crafting personalized thank-you letters and generating written content. At a macro level, ChatGPT can save time by analyzing and summarizing local city council meeting transcripts pertaining to cannabis-related discussions. At the granular level, artificial intelligence takes care of the most dreaded, time-consuming daily tasks. On a larger scale, it analyzes important discussions and provides valuable insights to entrepreneurs, facilitating informed decision-making and business development strategies. Either way, team members can use ChatGPT and maximize their time at work each day.
Reading about the implementation of new technologies in the workplace can be overwhelming. However, cannabis leaders can use the introduction of AI to inspire engagement between team members. For example, companies can use the "You, Me and ChatGPT exercise" to help employees write their first prompt and learn how AI can help them in their everyday activities. Fun team-building exercises and allocating dedicated time to explore ChatGPT's capabilities together can foster company-wide innovation.
Artificial intelligence is not a replacement for human intelligence. Instead, it presents the cannabis industry with a transformative opportunity to enhance productivity and unlock new possibilities. By effectively leveraging ChatGPT's capabilities, cannabis professionals can use their time more efficiently and raise their day-to-day production to levels they didn't know were possible. Every cannabis professional and company has a responsibility to the consumer to be at their best and artificial intelligence is simply another tool that will help maintain that standard.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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