Artificial intelligence (AI) is a conversation that can never be boring. This amazing technology has managed to find relevance in all sectors of our lives. It would be interesting to talk to some of the earliest proponents. Alan Turing, Cliff Shaw, and Herbert Simon might not have imagined the full potential of AI when they started it.
And now, we have AI that can mimic human behavior. It does it so well that it can learn human patterns and recommend specific actions or products.
Think about your favorite streaming service as an example. The movie or music recommendations are due to machine learning. It looks at your browsing patterns and can predict what would be of interest to you. That is why AI has become such a powerful marketing tool.
And the fashion industry is not lagging in AI implementation. Indeed it has a critical role in trends tracking and more.
Artificial Intelligence and Trends Prediction in the Fashion Industry
It will be hard to summarize the role of AI in the fashion industry in one sentence or indeed article. The changes and contributions from AI technology are immense. And one of the most critical areas is fashion trend prediction.
AI allows for proactive approaches by enabling brands to understand what customers want. It can get especially difficult if you are dealing with a large market. Fashion designers in India, for instance, cater to a diverse clientele. Furthermore, they are all over a large market.
Now, if you understand fashion, a lot goes into it. There is the impact of culture, economics, religion, personal taste, and more. And, of course, there is the ever-changing nature of customer demands, trends, and preferences.
Now imagine how difficult trend forecasting can be in such a market. There is a clear fact that you need data. Yet, a manual collection of such would be tedious. Thankfully, AI solutions provide a quick and efficient way to collect information from users.
So how does artificial intelligence come in?
AI in the Jewelry Industry - AI is making inroads in the jewelry industry. Designers use insights from AI data to come up with designs customers like.
The same data also shows shifting patterns in customer demands. While before, many customers would search for designs, now, there is now a crop of customers who are searching for sustainable products. This has led to increasing interest in lab-grown diamonds or gemstones.
The stones have the same quality as mined diamonds, but production comes without the attendant damage to the environment. This makes such products appealing to customers who want to play a role in environmental protection.
And the uptake of lab-grown diamonds is on an increase, especially in the bridal or wedding industry. A cursory internet search will show a surge in demand for lab-grown engagement diamond rings and wedding sets. Yet, the designers must stay a step ahead by anticipating or predicting trends in order to satisfy the new demand.
With machine learning technologies, designers can analyze patterns and search for emerging trends. The AI can sift through tons of data in a short time, thus higher efficiency.
Indeed, the information does not only come from customers or designers. The tools can crawl through television, movies, social media, and more to know what is trending. The same applies to buzzwords or terminologies on the internet that point to a new or emerging trend.
What makes machine learning so powerful is its flexibility. It can scale as need be. Further, machine learning can adapt to behavioral fluctuations while delivering real-time results. And finally, it can handle a large number of KPIs or metrics that go into determining fashion trends.
Deep Learning to Detect Early Fashion Signals - Deep learning is another critical subset of AI. It is a brand of data science that uses predictive modeling and statistics. Fashion houses are using this to detect early signals that show an emerging trend.
The technology will, for instance, identify changes in fashion activities amongst top influencers. This signals that fashion brands need to get ready to respond well. Let's go back to the example of lab-created diamonds. Before, there was a sense of pride in owning mined diamonds.
But, the horror stories surrounding the industry's practices caused a divide among customers. Celebrities like Leonardo De Caprio, Meghan Markle, and Mandy Moore endorse lab-grown diamonds.
With deep learning, diamond jewelry designers could catch the shift happening early on. With such information, aligning your products to catch the new fashion wave is easy.
Data-Based Forecasting - Understanding the nuances behind fashion design is quite interesting. A lot goes into coming up with trends. These include intuition, knowledge of fashion, and historical data. The combination of all these provides the basis for predicting upcoming styles. It is easy to imagine how challenging this was in the days gone by. The team would have to go to the field and collect information using manual processes.
But now, artificial intelligence is changing all that. Some companies are already using artificial intelligence to extract the necessary information. A good example is Heuritech. The AI-enabled tool discovers patterns in social media images.
The software can see over 2,000 details in apparel. The details provide critical insights for anticipating both trends and demand.
But that's not all. With such information, companies can improve their sustainability. Unfortunately, the fashion industry is one of the biggest contributors to pollution. A lot of waste finds its way into landfills.
With a better demand prediction, the brands will only order what they need for inventory. The environmental impact of such fashion changes will be huge. And, of course, the company's bottom line will read better.
Artificial intelligence is a powerful tool for trend forecasting in the fashion industry. The company can make data-based decisions on what customers want.
The AI tools crawl through the internet platforms like social media to collect data. The machines can predict the next trend by looking at images, and buzzwords. The same applies to new fashion terminologies.
A good example would be celebrities and top influencers' interest in lab-grown diamonds. The tools can read the followers' reactions. The designers will know whether the followers will catch on. That way, the jewelry designers can shift from mined to lab-created diamonds.
The trend predictions are also critical for sustainability and responsible manufacturing processes. By knowing what to produce, the brands have more control over what they stock. The positive impact on environmental pollution will be obvious for all to see.