On Day 1 of SXSW, the Fashion Innovation Alliance joined experts from L’OrĂ©al, Heuritech and by REVEAL for a panel on AI for luxury, fashion and beautyâ€”a topic that proved so popular SXSW had to turn people away as the room reached capacity well before the 11 A.M. panel began.
The session represented the diversity of tech, fashion and beauty in terms of race, gender, geography and areas of expertise. Panelists traveled from Paris, New York, San Francisco and Washington, DCâ€”all with varied backgrounds in the science of beauty, fashion, retail, machine learning and law. The session also included two female founders in techâ€”Megan Berry of by REVEAL and attorney and fashion tech strategist Kenya Wiley. The panelistsâ€™ expertise and representation showed the value of diversity when developing innovative products for luxury, fashion and beauty.
Key points that came up in the conversation included:
AI and Human Talent. When it comes to fashion tech and beauty, integrating AI platforms will require both machine and human intelligence. The role of AI for the future of work in fashion and beauty remains brightâ€”especially where artificial intelligence and human talent complement one another.
Consumer Trust. As more fashion and beauty brands integrate AI into their platforms when working with social influencers, consumer trust is key. AI will help to drive the retail experience, but overall engagement with consumers must be real and authentic.
Data Security and Privacy. Ethics in AI will continue to be an important issue, and effective data security and privacy policies will be key for brands and retailers collecting personal data. Fashion tech and beauty companies engaging with customers in Europe should also ensure that theyâ€™re compliant with the European Commissionâ€™s new General Data Protection Regulation, which goes into effect May 25, 2018.
Partnerships. For startups interested in partnering with established brands, entrepreneurs should clearly define their core technology and the added value for the partnership. Entrepreneurs should also explain what makes their product/service unique.