Recently, at Milan Fashion Week, our director of customer engagement, Demircan Erdogan, took to the stage at the White Show’s Couture Code. His keynote address at the forum offered a compelling vision of the fashion industry’s future, underscoring the essential move toward artificial intelligence (AI) and spatial computing as the future of fashion technology.
The fashion industry, including luxury fashion, has been speeding up—and it needs technology to adapt.
Erdogan noted that the fashion and technology sectors share striking similarities, especially in how their products constantly grapple with the risk of becoming outdated. The pace of innovation and consumption in both industries is genuinely remarkable. As fashion brands release more frequent and numerous collections annually, the tech world mirrors this momentum with its ever-evolving product iterations.
Fashion Technology: Stay Relevant and Survive
The most recent tech upheaval in the fashion sector was its shift towards e-commerce, a transition that spanned several years. Erdogan emphasized the peril of the fashion world repeating this slow pace with the integration of AI and spatial computing; many brands might risk obsolescence.
The challenges the fashion and luxury sectors grapple with can be significantly addressed by employing AI. These include accurate sizing and fit, managing surplus inventory, fostering customer loyalty and community, ensuring relevance to upcoming generations, preserving artisanal skills, nurturing innovative designs, enhancing accessibility, strategizing discounts, training for seasonal trends, and establishing data-driven brands.
Erdogan told attendees: “In my opinion, you don’t have the luxury of time. You’ll fall behind while others move forward and adapt. The speed of adaptation is rapid. There’s no going back now—everyone must start thinking about getting on this train. Everyone’s journey will be their own.”
Impact the Whole Value Chain
Integrating spatial computing and AI opens a world of opportunities for fashion and luxury. By addressing challenges in the supply chain, logistics, 3D designing, warehousing, retail storage, and enhancing customer interactions, these technologies are reshaping how businesses operate, leading to increased productivity and efficiency.
At the Mesmerise Group, we know the potential challenges and risks when introducing AI into a business framework. It is our steadfast belief that AI should be employed ethically and responsibly. To support this, we’ve crafted comprehensive risk management frameworks to responsibly guide businesses in harnessing these technologies’ full potential.
The Opportunities with AI & Spatial Computing
In his keynote, Erdogan noted that rapid technological advancements offer vast advantages for the fashion and luxury industries. Embracing AI and spatial computing can significantly amplify business outcomes. Here’s how:
- Speed to Market: AI empowers businesses with trend forecasting, enabling them to stay ahead of the curve and launch marketing campaigns with precision, ensuring a quicker market reach.
- Efficiency and Improvement: AI can efficiently manage product descriptions and care manuals, allowing teams to focus on more strategic activities.
- Personalized Customer Engagement: AI-driven solutions provide hyper-personalized offers and chatbots, ensuring customers have a tailored and engaging experience.
- Regional Business Intelligence: Automate and optimize crucial areas like inventory management, merchandising, and pricing analytics by leveraging AI to gain regional insights, ensuring businesses are always in tune with local demands.
How to Introduce New Technology to Your Organization
Venturing into AI and spatial computing might initially feel like stepping into uncharted territory. But Erdogan offers a roadmap to make this journey more navigable. Begin by engaging actively in tech-centric events, such as the Couture Code. It’s a great way to immerse oneself in the latest trends and to network with those on a similar journey.
Don’t hesitate to get hands-on. Trying out new devices and applications can offer a practical understanding that’s hard to achieve through reading alone. Share these experiences and discuss them with friends and colleagues. There’s immense value in collective learning.
Consider organizing a tech discovery session in your workspace. By hosting an open house centered on technology, colleagues and employees can learn together, fostering innovation and teamwork.
To identify and address specific business challenges, it can be beneficial to form a dedicated team. Their focus? Exploring how AI and spatial computing can provide solutions that weren’t conceivable before.
Lastly, as you become more comfortable, consider initiating a pilot program in collaboration with a trusted vendor. Ensure this trial has specific outcomes in mind to gauge its success and value.
With Erdogan’s guidance, diving into AI and spatial computing becomes less of an overwhelming task and more of an exciting exploration.
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