Artificial Intelligence has induced a fresh wave of technological advancement, prompting businesses across various sectors to intensify their efforts to integrate AI capabilities into their products and services.
Looking beyond investments, insights from GlobalData’s Technology Foresights shed light on the innovations being developed by luxury goods companies and how these firms are utilizing AI to enhance personalisation – a fundamental aspect of luxury products. “Cosmetics recommendation systems are designed to consider various user features, both biological and non-biological, to suggest the best products. Meanwhile, AI-based body measurement tools determine a user’s body type in the least intrusive manner to ensure the best product fit.”
Recently, Estée Lauder made a strategic move by investing in the US-based Kiki World, a company that utilises Web3 technologies to co-create products with users, thereby taking personalization to the next level.