AI is reaching the catwalk

Sursa: Pixabay

This year’s edition of the Paris Fashion Week has marked a new premiere – the arrival of AI to the catwalk.

Naomi Campbell, wearing a gray and lime Coperni costume, showed on the Paris catwalk an AI wearable device by Humane. Called the Humane AI Pin, it is a screenless, standalone device and software platform built from the ground up for AI by a startup formed by former Apple employees. While the device was shown in May at a Ted Talk, it will have its global unveiling in  November, writes  eToro analyst for Romania, Bogdan Maioreanu.

The fashion industry is changing and starting to move toward a more technological diverse future. Fashion and AI are combining into new products and services, a trend that could be seen at the recent Meta Connect event where Mark Zuckerberg showed the new Ray-Ban Meta smart glasses collection in collaboration with Essilor Luxottica. In addition to the camera, an improved processor and the Ray-Ban style, the glasses also feature an integration of the Meta AI assistant.

Technology is finding its way in an investor favorite industry: fashion. From marketing and sales to generative art, it has the potential to change the industry. And consumers seem to have nothing against it. A survey by GWI shows that trends that started in the pandemic are the norm now and that retail and technology go hand in hand. Shoppers globally are receptive to digital solutions that improve their physical retail experience, and younger groups like Gen Z and millennials are the quickest to adopt them. Over half of global shoppers surveyed say that receiving personalized offers on their phone would increase their likelihood of visiting a physical store. But not all consumers are alike, with the data showing that 55% of surveyed Chinese and 47% of Americans would like to receive such offers, but only 38% of Europeans and 20% of Japanese appreciate them.

Beside the instore interactions customers are also interested in the digital interactions. Almost half of the surveyed Chinese consumers said that they are interested in engaging in the Metaverse, compared to only 26% of the Americans and 23% of the Europeans.  NFTs are very popular in China (56% like them) but not so much in Europe (21%) and the US (25%).The major fashion houses are looking at how they can capitalize on this. LVMH is adding a new layer to its Web3 strategy with Louis Vuitton opening up a Discord server designed to create a  connection with online communities, especially with its NFT holders.

Integration of technology in fashion is also coming  to consumers in other ways. Some customers are looking at digitizing their wardrobe, in order to track what they own, how old the clothes are and what value they have.  Another use of the wardrobe digitization is for styling or for rent, sale or repair suggestions.

All these trends are also noticed by investors. Digital transformation – including AI, cloud computing, VR – is the most popular long term investment theme, with 42% of the Romanian investors declaring that are interested to invest in this field according to the latest eToro Retail Investor Beat survey.

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