This article was originally published in the Future Of Beauty Trend Report. Receive your copy here
Generative AI (gen AI) has just had its breakout year.
Since over a million people signed up to use ChatGPT in its first five days of public release, generative AI tools, that can create new content and other media from large sets of data have entered the mainstream, while across industries the uptake of the technology has been rapid.
McKinsey’s recent Global Survey on AI found that one third of organisations said that they are using gen AI in at least one business function, less than a year after these tools debuted.
In 2023, the beauty industry has certainly been experimenting with gen AI to boost productivity, creativity, automate certain tasks and improve customer experiences.
Early adopters such as Elizabeth Arden launched a virtual store that used AI-generated marketing imagery that showcased the brand’s 120-year history, while Iconic London trialled generative AI negotiation tool Nibble, which allows customers to negotiate prices for items in their baskets with a chatbot.
The Estée Lauder Companies is using gen AI with Google Cloud to monitor consumer sentiment and feedback in real-time in order to address consumer concerns, inform R&D efforts and respond to external trends, as well as simplify internal workflows.
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