Artificial Intelligence in Fashion Market
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Added on 2020-12-10
Artificial Intelligence in Fashion Market
Added on 2020-12-10
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Strategic Fashion MarketingConsultant
EXECUTIVE SUMMARYArtificial intelligence is method of making robot which is computer controls along withintelligent software thinks similarly to humans. AI contribution to overall digital transformationof business. It provides business along with decisions are informed on better aspect for drivingtop-line growth and to deliver meaningful experience for consumers to follow the path. It is asingle macro trend as increment in artificial intelligence. It had been articulated that certainvolume of interaction about consumer is expected for gleaning important patterns and insightsfor gaining high and huge transformation.
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................1Artificial intelligence as macro trend...........................................................................................1Trend forecasting framework with application of consumer trend canvas..................................1Evidence of drivers of Artificial intelligence in retail.................................................................2Validity of trend of artificial intelligence....................................................................................3Opportunities of fashion retail brands with application of AI in effective aspect.....................11PART 2..........................................................................................................................................12Assessment of New Look with brand appetite in context of risk and innovation.....................12Proposal rationale.......................................................................................................................13Recommending appplication AI with its brand.........................................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONArtificial intelligence as macro trendArtificial intelligence is replicated as major driver on basis of digital transformation alongwith rapid advancement in technology which impacts business operations and strategy,workforce along with customer interaction as well. These all are considered as broad impact andit will be continued for business to up bring technological advancement. AI will be referred asstandard in solutions and it will lay less focus on glitz and glamour on basis of machine learningand huge focus on embedded AI contribution to overall digital transformation of business. Itprovides business along with decisions are informed on better aspect for driving top-line growthand to deliver meaningful experience for consumers to follow the path. It is a single macro trendas increment in artificial intelligence.Trend forecasting framework with application of consumer trend canvasBasic needIn the present scenario, group of consumers are directly influencing needs of consumerson basis of recent trend. Ultimately they are driving the alterations in basic needs ofhuman along with desires (Artificial intelligence, 2018).Drivers of changeIt has been observed contribution of AI in present scenario. The ethics and expenses ofAI are ensuring about absence of technology for widening inequality or worsening socialinjustice. For the purpose of striking balance and to inject humanity in developedmachines. The main driver of changing is time saving along with attractive creativity.Innovative potentialIn the present scenario, companies are selecting to move away from traditional methodsof shopping with application of automation technology as a vital tool for experience ofbuying.It might pair the workforce with high tech machines like robotic arms, 3D printers alongwith computerised knitting.The digital designs could be tweaked for purpose of customisation.Emerging consumer expectationsConsumers want AI to be specified as human-like or voice of human is highly welcomeddue to handling capability for holding sensible conversation.1
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