Dr. Ayesha Khanna is the CEO of Addo.
Did you spot Naomi Campbell wearing an AI pin during the Paris Fashion Week?
Well, that was just the tip of the iceberg that took center stage during September’s fashion showcases. From Hillary Taymour’s AI creations at New York Fashion Week to the custom AI designs by Acne Studio in Paris, AI is making waves in the fashion world.
Looking ahead, AI is set to inject $150 to $275 billion into the profits of the apparel, fashion and luxury sectors in the next three to five years, promising greater inclusivity, sustainability and creativity.
AI’s influence is multifaceted, spanning from personalized styling and optimized supply chains to AI-driven designs and creativity. Here are five ways AI is influencing fashion.
1. Personalized Styling And Recommendations
Personalization stands at the forefront of modern retail, with 73% of customers expecting brands to understand their individual tastes and preferences. Here, AI can be pivotal in delivering tailored styling and recommendations.
For instance, Stitch Fix uses AI to craft personalized style profiles, gathering 90 specific data points via a detailed survey. This includes style preferences, dress size, height and location, enabling algorithms to rank and recommend clothing items tailored to individual tastes.
Meanwhile, Styleriser, a B2B German company, leverages AI to offer personalized image consulting solutions, acting as a digital shopping assistant by recommending ideal colors based on individual skin tones.
As per Segment’s 2023 report, 56% of customers are more likely to become repeat buyers with personalized experiences. It highlights that customer loyalty hinges on brand experiences, which can be improved using AI.