AI (Artificial Intelligence) is describes as ‘an area of computer science thatemphasizes the creation of intelligent machines that work and react like humans. Some of the activities computers with artificial intelligence are designed for include: Speech recognition.’
You could say that there are two types of AI, narrow AI and general AI: Narrow AI- this is what we see all around us in computers today- intelligent systems that have been taught how to carry our certain tasks without being explicitly programmed how to do so. An example of this machine intelligence is the Siri virtual assistant on the Apple iPhone. Narrow AI systems can only learn or be taught how to do a very specific set of tasks which is why we emphasis ‘narrow’ in its name.
General AI is very different, and is the type of adaptable intellect that can be found in humans. It can carry out a variation of intelligent tasks, anything from hair-cutting to building spreadsheets- it has a massive wealth of experience to undertake many things. This form of AI is commonly seen in movies such as HAL (2001) and The Terminator. Although general AI is still a working progress, experts claim it will soon become a reality.
AI offers a ton of fantastic benefits to retailers and other established fashion businesses. From manufacturing, to designing, to customer service it can provide specific information to predict the next trend from present conversations and it is forever evolving- who knows what is to come within the next 10 years?
How is AI Shaping the Fashion Industry?
Although it is clear that humans are responsible for the designs itself, it is the machines that forecast trends and inform product decisions. Forecasting is just one example of the use of Artificial Intelligence within the fashion industry. In addition, a variety of new technologies are helping retailers manage there inventory, using AI powered tools to assess what the demand is. Chat boxes that you may see often on a bunch of online websites are also very common- they allow a 24×7 connection to customers to offer services regarding products, refund, exchanges, tracking orders and much more, ultimately, it sways the customer into making a purchase by having the support at the click of a button. Most AI algorithms also help tailor product recommendations and allow the retailers to create specified collections to what the customers want to buy.Edited
An established retail technology company called Edited (based in London, by CEO Geoff Watts) specialises in producing real time date analytics software, which gives retailers access to full market data. The platform helps retailers trade at a faster pace as it allows them to look into the entire global market, specifying in colours, shape and patterns. This service is use by a wide range of established brands such as Boohoo, Tommy Hilfiger and Farfetch.H&M
Whilst data is everything, AI is slowly but surely transforming the fashion industry and plays a huge part in it. Not many consumers realise how much their online behaviour is being monitored carefully. An example of this is H+M and Arcadia whom use AI to keep popular items well-stocked by analysing receipts and returns to analyse which stores need what specific product. In the world of marketing, a majority of brands are analysing its social media data, to monitor fashion conversations, allowing social data to inform the latest trends, from this, fast fashion and trend-driven brands can quickly change their collection and best-sellers, to suit the consumer needs and raise profits. MakerSights uses data analytics that combines elements such as social media activity, queries, consumer feedback and so on, to provides information into what is likely to become a trend- smart, right?
AI offers a ton of fantastic benefits to retailers and other established fashion businesses. From manufacturing, to designing, to customer service it can provide specific information to predict the next trend from present conversations and it is forever evolving- who knows what is to come within the next 10 years?
