The algorithm is fashionable.
The fashion industry is on the eve of a Revolution. Algorithms reshape shopping experience and intercept the least predictable trends.
The encounter between artificial intelligence and the fashion industry is written in destiny. The extraordinary growth of interest in this topic, moreover, is under everyone’s eyes. In the field of fashion, the ” top 10 apparel companies “(according to the Forbes classification) have led the way, embracing the logic of algorithmic support in various fields. From design to production, from marketing to customer care.
Matter of customer experience.
The need for AI is largely related to the need to offer the customer a rewarding and personalized experience at a sustainable cost .
The study reveals that algorithms can particularly facilitate fashion retailing in the channel online and personalization. While the “human touch” approach works well in
physical stores, it is insufficient online, where customers are invisible and moredifficult to intercept.
Furthermore, manual processes rarely allow to intercept unexpected micro-tendencies and many are the benefits arising from the implementation of the AI, starting from improvements in internal business processes. In the fashion industry, data processing capacity – largely accelerated by the adoption of learning algorithms (machine and deep learning) – is essential in sales forecasting, production planning, in merchandising and stock management. Thanks to machine learning techniques, companies operating in the fashion industry can identify patterns in data and build models that predict future results. This contributes to create a more flexible and faster supply chain and to manage inventory in an automated and intelligent way.
When the fashion designer is an algorithm?
Companies that implement artificial intelligence already in the product design phase have a competitive advantage over those that rely only on the intuition and creativity of designers. The AI can support fashion design, in terms of productivity and individualization, by solving the dilemma between originality and market orientation. It can accompany product research, the verification of measurement and availability, access to shipping and return information. The growing need to create a personalized customer journey in the entire retail sector – not only in fashion – has made it impossible to manage many tasks without the automation of some processes.
The AI is able to analyze and identify a coherent and complete set of attributes of different images, in order to provide more relevant product recommendations to the customer. This reduces in a significant measure the time spent on product categorization, creating at the same time upsale opportunities.
The tasks performed by artificial intelligence will grow again. The AI will carve out huge spaces in each aspect of life and will create an increasingly evident gap between the companies that adopt this technology and those that are late.
We are sure that the core of fashion remains human creativity. However, technology can become a useful creative assistant. It’s time for fashion companies to embrace the AI paradigm in their development plan, focusing on areas with the greatest potential for added value. Who will seize the new opportunities first, will reap the benefits first.