Growing hemp for fiber production dates back over 10,000 years. The aspect that hemp could be grown for food, shelter, and clothing implies that it has been a very crucial crop for ages. It was initially grown as a local commodity that satisfied the basic needs of a grower, his family, and friends.
However, during those days value chains didn’t exist per se. Growers cultivated the plant, processed it, and transformed it into finished commodities that they needed to survive.
In the modern world, with expensive labor costs, specialization, mass distribution, erratic marijuana regulations, and other difficulties, a reliable hemp fiber chain of value is important to industrial-scale production.
Although today’s cultivators have to evaluate their expenses relative to the proceeds that they’re expecting to generate, they have zero hemp fiber value chains to depend on. It’s impossible to source the information required to determine genuine market prices or incorporate key considerations such as quality, reliability, and availability.
It requires time to transform a market system, set standards, and updated market price tiers. This could be the fate of the hemp fiber sector, except for AI (Artificial Intelligence) that can quicken the development protocol.
AI was introduced in 1955 and is a distinct software that can solve problems and learn through simulating a human being’s intelligence. It runs devices that are uniquely engineered to reason and think like humans. These devices can act or make their decisions. Apart from thinking, AI selects the best answer from an assortment of possible ones.
Hemp fiber’s value chain defines all actins that have must occur to deliver hemp fiber to the final user- from seed planting to ensuring credible after-sale services. The mark-ups and costs incurred during the process of achieving the product sale determine its marketability.
AI avails a new realm of real-time information, flexibility, and prospective market insights. When it’s embedded in a digitally-driven production setting, it overwhelmingly redefines production economics and market opportunities.