The Green Tech Revolution: How Tech is Transforming the Cannabis Industry

The intersection of cannabis and technology is sparking a revolution in the way we grow, market, and consume this beloved plant. With the rapid growth of legalization around the globe & innovative tech solutions to enhance consumer safety and expand its market reach, hundreds of ‘canna-curious’  individuals and industry experts gathered at 1871 for our second annual Cannabis Innovation Summit on 4.17.24. 

In execution with Grown In, this year’s event far exceeded our expectations with an impressive lineup of cannabis leaders, founders, and innovators who spoke candidly into the complexities of cannabis entrepreneurship, legal hurdles, and technological advancements reshaping the industry.

From insights into current trends in cannabis to future predictions on where regulations and laws will land in this complex field, our Summit was full of collaboration on the green tech revolution. More on the theme of the day, below! 

Watch the best highlights & industry insights in our 2024 Cannabis Innovation Summit recap playlist! 

Cannabis: from plant to purpose

Beloved actor and entrepreneur Jim Belushi opened the Summit with a captivating keynote about his transition from the entertainment industry to launching his cannabis farm, Belushi’s Farm. His focus? Making high-quality, organic products for his consumers while educating the public on the power of cannabis and how it’s grown through his TV show, Growing Belushi. 

Motivated by a suggestion from friend Dan Aykroyd, Belushi explored the healing and therapeutic potential of cannabis, emphasizing its medicinal benefits and healing nature for individuals dealing with ailments or pain that can be alleviated by cannabis – both on the inside and out. 

“As an entertainer, my purpose is to make people feel good, healing by performing,” Belushi said. “With cannabis, it’s the same purpose. My job is to make people feel good.”  

Despite facing challenges many others run into, such as regulatory hurdles and the complexities of managing a cannabis operation, Belushi remains committed to the cannabis industry. Belushi’s mission is to educate consumers, continue exploring cannabis dispensaries across the nation, hear directly from users themselves, and advocate for federal regulatory changes to destigmatize cannabis use.

But, cannabis stigmatization isn’t going away anytime soon. Joanne Caceres, Cannabis Law Attorney at Dentons, and Eric Berlin, Partner at Dentons, shared deep-level legal insights about the cannabis industry in their breakout session ‘The Word Out of Washington and State Houses Near You.’ 

With extensive cannabis and hemp law expertise and involvement, Caceres and Berlin discussed the slow progress of federal cannabis reform and the intricate dance between state and federal regulations. Despite the positive impact of cannabis and its high demand, these legal frameworks and delays continue to have a significant effect on businesses, investors, and service providers. 

Canna-tech innovators @ our startup alley & pitch showcase

1871’s 2024 Cannabis Innovation Lab cohort of canna-tech enthusiasts and startups were not shy about what they’re up to! Attendees were captivated by current players in the cannabis sector in our Startup Alley and heard directly from its founders in our pitch showcases. 

Congratulations to our pitch winner, Budscout AI, and fan-favorite Acute on Chronic! 

Envisioning the future of cannabis

Cannabis is continuing to trickle into neighboring industries. Our breakout workshop leaders led discussions surrounding how cannabis innovation is within the main markets of supply chain and advertising, and the importance of cannabis research for future industry innovation. 

Speakers include: 

The Summit concluded with a future-focused discussion led by Kelly Bernazza-Hall, COO and Co-Founder of Hoodie Analytics, James Yi, Founder & Board Director of Leaf Trade, and Martez Knox, Founder & CEO of BakedBot.AI. The trio highlighted the crucial role of technology in powering today’s rapidly changing cannabis industry. 

Through data analytics, introducing AI for automation, and strategic partnerships, these tools are crucial for growth and scaling in cannabis to solve operational challenges and enhance efficiency, especially in a capital-contained environment. 

What is the most important thing we as a society can do according to this trio? Emphasize the importance of social equity in cannabis innovation! Support minority-owned businesses to ensure that the growth of the cannabis industry benefits all communities equitably.

The 1871 community can’t wait to continue exploring the future of cannabis in this tech-driven era with our community of industry innovators and leaders. 

Thank you to everyone joining us and our community for our 2024 Cannabis Innovation Summit. This day would not have been possible without the support from Dentons, Illinois Equity Staffing, Hoodie Analytics, and World Business Chicago.

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