Share to Facebook Share to Twitter Share to Linkedin Lancôme, part of the L'Oreal Luxury Products division, demonstrates its precise computerized makeup ...
[+] applicator, powered by AI learning sensors for people with limited mobility to apply lipstick easily and evenly on display Generative AI (GenAI) has taken the world by storm since OpenAI released ChatGPT in late 2022, a version that suddenly captured the minds of the public thanks to the richness and diversity of the responses it could bring to users’ questions. For the Wall Street Journal , GenAI stands to double the rate of US productivity growth after a decade of widespread adoption and to add trillions of dollars a year to global economic output. In contrast to what happened a decade ago, when luxury brands almost denied the relevance of digital, they have been quick this time to join the bandwagon.
It seems they have good reasons. According to McKinsey, “In the next three to five years, generative AI could add $150 billion, conservatively, and up to $275 billion to the apparel, fashion, and luxury sectors’ operating profits.” But have they? In early 2023, Kering, the parent of brands including Gucci and Pomellato, launched an experimental platform called KNXT, where users can chat with Madeline, a ChatGPT-based luxury personal shopper.
“Madeline can understand natural language requests and suggest products from Kering’s portfolio, as well as provide insights on fashion trends and destinations,” sa.
