$SGMD #AI hemp cultivation system news: https://finance.yahoo.com/news/sugarmade-begins-development-artificial-intelligence-123000467.html
Sugarmade Begins Development of Artificial Intelligence Based Hemp Cultivation Monitoring Systems
PR Newswire PR NewswireMay 14, 2019
MONROVIA, California, May 14, 2019 /PRNewswire/ -- Sugarmade, Inc. (SGMD), a major supplier to the growing hydroponic cultivation sector, today announces a new corporate initiative to develop cultivation monitoring systems for hemp and other agricultural commodities. The Artificial Intelligence (AI) driven devices will be placed at various locations within hemp fields to gather vital information about soil moisture, temperature, humidity, etc. and will be data linked back to central control systems.
This monitoring system will allow hemp cultivators to actively monitor conditions in real time. Sugarmade has entered into a joint venture with an engineering group to develop and commercialize the technology.
"Hemp is becoming one of the world's most valuable crops. Cultivators and investors are actively seeking ways to monitor the health of the crop to ensure maximum yields. This platform, which will be based on AI software from some of the world's leading technology companies. will not only provide real time tracking of field conditions, but will also make active recommendation to mitigate issues. We have launched this initiative to meet the pressing needs for cultivation monitoring of this valuable agricultural commodity," commented Jimmy Chan, CEO of Sugarmade.
The new cultivation monitoring technology will be based on narrowband Internet of Things technology, often referred to as NB-IoT, which is a cellular communications technology that provides wide-area coverage to gather and disseminate information. The main advantages of this technology are the long battery life of the data collection devices, low complexity of the network and the significant coverage extending well beyond existing cellular technologies. For these reasons, NB-IoT is practically well suited for use as a networking technology for hemp cultivation monitoring systems. Sugarmade believes this will be the first system to be developed for this unique application.
With hundreds of million of dollars of investment pouring into hemp cultivation, Sugarmade's management sees strong potential demand for cultivation monitoring systems. According to a January 2019 report issued by Arcview Market Research, the worldwide consumer market for cannabis during 2018 was valued at approximately $12.8 billion, up significantly from the 2017 estimated value of $9.5 billion. The market is expected to to grow at approximately 27% compounded annually through the year 2022.
About Sugarmade, Inc.
Sugarmade, Inc. (SGMD): Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade's brands include Zenhydro.com, AthenaUnited.com, CarryOutSupplies.com, and BudLife Cannabis Storage Solutions. For more information on the Company's products visit http://www.Sugarmade.com