Beauty Industry unearthing its potential with AI

AI- the revolutionary canvas, is painting the business town in a futuristic perception, unleashing every industry's hidden acumen.

To the utmost surprise, it's not only the logistics, IT, marketing or healthcare, who are putting AI to use, but some non-expected industries are already embracing automation.

Given the global value of AI, it's no surprise the tech is spreading. Statista estimates that worldwide AI revenue will hit $90 billion by 2025. Let's have a look at the sector which is spearheading the AI-powered revolution: Beauty Industry

AI is blending both, sustainability and personalization to deliver convenient solutions for the beauty industry. By using the latest technology, dermatologists can now measure the precise state of skin and can recommend potential products after an evaluation.

Here are few global brands that have snapped up their competitive edge with AI:

L'Oréal

To 'support the reinvention of the beauty experience', L'Oréal acquired AI and augmented reality (AR) beauty brand ModiFace, founded by Parham Aarabi in 2007.

Coty

Launched an accelerator programme for AI start-ups to earn an opportunity to work with the beauty company.

Perfect Corp

The brand divulged "YouCam for Web", a self-service subscription solution to cater to the growing demand of small and medium businesses looking to leverage artificial intelligence (AI) and augmented reality (AR) beauty tech solutions.

Function of Beauty

The customised hair care brand claims to be 'arguably the first company to leverage AI in the beauty sector'.

Prose

Utilized the power of AI technology in customizing their hair care products – shampoo and conditioners.

Olay's Skin advisors

Olay's Skin Advisor, an AI-led skin analysis platform that was launched by the brand after its research found that consumers needed help to shop more effectively for their skincare products.

Revieve

Launched in 2017, the brand provides skincare advice and recommendations after analysing 68 factors such as redness, eye bags and wrinkles via selfie analysis and running data through its AI-powered Personalization Engine.

Beauty trends to be in the limelight

• From standardization to personalization

One-size-fits-all is not relevant, personalization has created a perfect breeding ground for brands to create and deliver products/ optimised formula, based on their specific needs.

• Retail experiences

AI and AR-based technologies are being implied to create personalized shopping customer experiences and rejuvenate the retail spaces.

• Virtual try-on shopping experiences

• AR Magic Mirrors

• Voice activation