Estimated to be around 3 trillion dollars, today fashion industry has emerged as one of the biggest industries in the world. But like other colossal businesses, fashion biz also needs Artificial Intelligence (AI) to carry on business more smoothly, meeting the current challenges and paving way to further culmination of the business. Though the fashion industry is already in its established position, AI is holistically transforming the industry from the way that fashion companies are making their products to the way they are marketed and purchased by their customers. Today, AI technologies are transforming the fashion industry in every essential part of its value chain like designing, manufacturing, logistics, marketing and sales. Since Artificial Intelligence technologies have brought a tremendous change almost in every business which is done on large scale, fashion industry could not remain uninfluenced by this charismatic technology.
AI is utilized to promote and sell fashion products
Progressively, more fashion brands are making use of AI and machine learning to enhance users’ shopping experience, improve sales systems through intelligent automation, and increase the sales processes with the use of prognostic analytics and guided sales processes. Moreover, fashion brands are also in the process of influencing assistants through chatbots and voice assistant devices like Amazon Alexa, Google Home, Apple Siri, and Microsoft Cortana.
Use of conversational systems
Making use of conversational interfaces, fashion brands can collect data by putting questions to be answered by the customers to understand their desires and trends, go into the depth of their purchase patterns and suggest pertinent and add-on items. This interaction brings maximum satisfaction to the customer and more relevant information to the advantage of the fashion brand.
AI making its way into e-commerce and mobile apps
Apart from conversational systems, now AI is also paving its way towards e-commerce and mobile apps. Today, customers facilitated to take the snaps of the garments they prefer or styles they aspire to emulate. Smart image recognition systems can match the pictures to real life items found for sale. Besides, AI-enabled shopping apps enable the customers to have screenshots of the dresses of their choice they see online, identify shop-worthy suits and accessories in that picture, and find the same set of clothes and shop for same type of styles.
AI is boosting fashion design and manufacturing
Recurrent changes in fashion and design have forced the retailers to keep themselves up with the latest trends and foresee consumer choices for coming season. As per tradition, the retailers make their prediction in accordance with the current year’s sales on data from the prior year. However, this cannot be accurate all the times as sales can be impacted by various factors which are not easy to predict. Yet, AI-based approaches for demand projection, may lessen prognosis error almost half of it.