Blunt Business speaks with Dina Rollman, CEO of StrainBrain and board member of New Lake Capital Partners. The discussion explores the evolving landscape of the cannabis industry, the transformative potential of AI, and the challenges and opportunities facing businesses in this sector.
Rollman shares her perspective on the uncertain legislative future of cannabis, acknowledging the political headwinds but remaining optimistic about potential progress, particularly in the area of rescheduling. She predicts that AI will be a major force in the industry by 2025, citing StrainBrain, an AI-powered product recommendation engine, as a prime example. StrainBrain addresses the overwhelming product variety and lack of consumer education in the cannabis market by offering personalized recommendations tailored to individual preferences.
Beyond its consumer-facing applications, AI has the potential to streamline operations and improve compliance within the cannabis industry. Rollman and the interviewer discuss how AI can automate tedious record-keeping processes, improve accuracy, and potentially redefine roles within traditional businesses.
The conversation then shifts to the current state of the cannabis industry, with both participants recognizing the challenges posed by regulatory uncertainty and tax burdens. They anticipate a wave of mergers and acquisitions as the industry consolidates, with non-publicly traded operators playing a key role. Despite these challenges, both express optimism for the future, highlighting strong industry leadership and potential for growth. Rollman's position on the board of New Lake Capital Partners provides her with unique insights into these industry trends.