Artificial Intelligence: The Future of the Fashion Industry
Artificial Intelligence (AI) has manifested itself into many different fields, like engineering, medicine, and data analytics, but the fashion industry may not be the first one that comes to mind. However, AI has become more of a prominent feature in the industry and may have a more positive outcome than most perceive. McKinsey & Company has predicted that with the benefits of AI, in the next three to five years, the industry could add anywhere from $150 to $275 billion to fashion, apparel, and luxury areas. Not only could operating profits increase, but there is an added value of creativity and sustainability.
Creativity
AI is shifting the way designers are turning ideas into reality. A subgroup of AI, generative artificial intelligence, has been used to create new designs in the fashion world. There is a common trend that people think AI has been reducing the amount of jobs, but fashion companies have found that their designers using AI as a tool has become the most valuable. Many designers are using the tool by writing prompts, and then AI generates images of clothes based on the description. AI has taken unfinished sketches and turned them into functional 3D-designs utilizing textures and patterns. Designers are able to see a finished product before putting the fabrics together in real life. Simple applications like Dall-E and Midjourney have taken this approach, allowing designers to take a direction they’ve never been down before. A result a designer envisions in their head might have been produced differently using AI, adding new ideas to the designer’s blueprint. This expedites the initial phase of the design while also promoting sustainability by utilizing technology to not waste textiles and labor. Ultimately, AI enables designers to not have to focus on mundane work and empowers them to concentrate on what they are best at–creativity.
Courtesy of Linkedin
Inspiration & Prediction
It is critical for fashion companies to stay ahead of the game with trends to make sure their products are marketed the best and sell the fastest. Not only can artificial intelligence help designers produce unique articles of clothing and accessories, but AI helps companies and magazines, like Vogue, predict future fashion trends. AI algorithms have clever features that allow users to scan social media content, like videos and images, to find patterns in posts and see what people are wearing the most. This allows designers to adapt quickly to changes in fashion culture and predict trends quickly. One of the main trend-forecasting AI systems is Heuritech, which predicts fashion trends for upcoming seasons based on social media networks. The platform gathers data on colors, fabrics, silhouettes, patterns, and styles to best predict trends. By generating information on future macro and micro trends, Heuritech grants designers inspiration and choice over what trends they want to take to the next step.
Courtesy of Heuritech
Supply Chain
The back-burner of every fashion company, whether it’s a luxury or economical brand, is distribution, aka, supply chain. Companies want to get their products to retailers as quickly as possible to meet consumer demand. AI aids in supply chain transparency, a concept many fashion companies are striving for, to produce a mindset of sustainability and trust among buyers. To eliminate human error and bias, AI is paving the way for the industry by taking data and producing decision models that include billions of data points, which is way more than the human mind can comprehend. Therefore, artificial intelligence is increasing efficiency in companies’ business divisions by learning and fixing mistakes faster, thus meeting the demand of consumers. AI systematics use demand forecasting, stemming from trend prediction, to analyze the future demand for a fashion good. By and large, AI demand forecasting is shown through pattern recognition, predictive analysis, and real-time data processing in order for fashion companies to maximize their supply chain efficiency and quality.
In every aspect of the fashion industry, artificial intelligence is making its mark and becoming more and more versatile by the minute. AI can curate your entire closet, transforming from just an idea to the runway to stores faster than ever before.
Featured Image Courtesy of 3DLook