AI in Fashion Industry
Fashion industry is one of the biggest industries in the world generating around two percent of the overall world GDP. The primary objective of Fashion companies is to reflect customers’ needs and interests in their products and offerings.
Today, Artificial intelligence is playing a key role in helping wide range of industries in achieving their business goals. Fashion industry can leverage AI and ML technologies to create audience’s personas, understand customer needs and track leads and engagement on online platforms to increase conversion rate.
The “targeting the right customer with the right product” approach using Artificial Intelligence strives to make the industry more efficient in terms of budgeting, product design and marketing and finally customer satisfaction.
AI in Fashion and budgeting
Fashion industry is about designing innovative products and offering them to wide segments of consumers. Generally, marketing and promotional campaigns are used to reach a maximum number of consumers. Companies often desire to invest in campaigns that strive to bring new customers and retain existing ones.
AI and ML provide innovative solutions to address companies’ marketing requirements. Using Machine Learning techniques, companies can now segment the customers on the basis of their interests and design campaigns that appropriately target the right sets of customers. In short, using AI and Machine Learning techniques fashion companies can make their campaigns result oriented by targeting only the intended customers.
AI in Fashion and product design
Trends in the fashion industry continuously evolve over time reflecting changes in other areas of economy and society. Being attentive to these underlying changes across different areas of life is key for fashion industry to remain innovative.
Choosing colors, shades, materials, patterns all are an essential aspect of product design. Designing a product that catches the customer’s attention is a very crucial part of the Fashion Industry. AI can support this creative process by automation. Machine Learning models can easily process massive amounts of data generated from multiple sources to deliver concrete insights. These insights can in turn support design making processes to design new and better products and services.
Smart technologies are becoming integral part of our everyday lives. Fashion industry is similarly affected by emergence of smart tech. AI provides the means to convert fashion into smart fashion. Firstly, AI driven recommendations systems are increasingly becoming powerful in producing relevant and useful results based on each customer’s unique interests and engagement with online platforms.
AI can also help in predicting an outfit item’s compatibility with other clothing, wardrobe, and accessory items, enabling customers to select items such as shirts and jackets and receive recommendations for shoes based on their interests and past purchases.
Amazon hardware lab has developed an image mage-based virtual try-on system (Outfit-VITON) to help visualize how clothing items in reference photos might look on an image of a person.
Chatbots are another area where AI is increasingly becoming primary point of customer service. The customer can ask any question regarding a product and get a prompt response.
Artificial Intelligence is becoming a vital aspect for businesses across the industries.
Advance AI models built using big data are providing analytics and insights previously unimaginable using traditional techniques and methods. These new insights enable businesses including fashion companies to make informed decisions regarding product design, assist marketing and promotional campaigns and allow sales teams to accurately predict sales.
AI is changing the conventional methods and approaches of operations in the Fashion industry. As such, it has offered feasibility for planning and executing better product design, campaigns, promotions, manufacturing, and logistics. It has also helped Fashion brands to forecast their customers’ choices and preferences related to products.
AI-based services are numerous, and some of them include a recommendation, chatbots, virtual try-on systems, and many more. To sum, AI has helped the industry to better understand customers’ needs and provide reliable solutions.