Protecting Your Cannabis Company: Why Artificial Intelligence is a Must

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Employee theft at cannabis businesses is soaring all across the United States. According to Gary Cohen, CEO of Cova Software (a POS software supplier for cannabis-based businesses), both criminals and morally ambiguous employees are resorting to more creative and clandestine tactics than ever before to steal from cannabis companies. The absence of central regulation in the sector makes it almost too easy for these individuals to commit thefts and frauds that are virtually undetectable.  When compared to a hole in the storefront window or a glaring gap in inventory, these losses are substantially less noticeable and therefore almost always go unnoticed by upper management… until it’s too late. The steep increase in global instances of theft, fraud and malicious negligence in the cannabis sector has made it clear that these businesses need better surveillance. Shutterstock Owing to the relative newness of the industry and a corresponding dearth of centralized operating procedures, the owners of these businesses are desperately vying to get a better grip on a seemingly impossible situation.  Common Security Problems  Theft  According to Canopius Group, over 90 percent of the insurance claims filed by cannabis companies in recent years have been because of at least one form of theft. The majority of these reportedly involved access to privileged inside information, which helped the thieves assess and then target the vulnerabilities in the company’s existing surveillance systems. Negligence  Large volumes of hemp crops are either destroyed or left to rot every year due to human negligence. The problem arises because each variety of the plant requires differing amounts of light, water and attention in order to thrive. Carelessness or mismanagement in this domain can cause severe and irreparable damage to the plants as a result of overwatering, sudden changes in the ambient temperature, or general pestilence. Traditional surveillance systems…

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Source : Protecting Your Cannabis Company: Why Artificial Intelligence is a Must

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