While AI is set to disrupt the fashion industry as a whole, the luxury fashion space is going to see multiple challenges incomplete adoption. The Business of Fashion Event Promotion-Luxury Fashion space. There are various factors governing the value chain within the luxury space, which aren’t going to be easily disrupted with the introduction of AI. There are areas where AI can introduce greater insights and innovation, which is where there is space for the luxury fashion space to evolve. Here are some of the real-world challenges to AI adoption in luxury.
Art & Science to luxury design
The Business of Fashion Event Promotion and Challenges to AI adoption in the luxury fashion space. While the luxury design is a growing market, it relies heavily on the marriage of art and design. It caters to a niche audience that relies on the latest designs to be trendy, artistic, and captivating. AI hasn’t reached that point yet, where it can capture artistic initiatives. AI also isn’t able to distinguish between art and imagery. It can only perform surface-level analytics as luxury design is an evolving market.
It can showcase trends based on predictive analytics, but it can’t really make an elite designer irrelevant. That’s where the demand for a truly talented designer continues to rise, even in the space where we have greater integration of AI and Machine Learning. The combination of art and science is what makes the luxury market unique in the global economy.
AI seen a technology initiative
AI is still seen as a technology initiative and not a foundational change on which to base insights. It has a perception problem in the luxury fashion space. It’s being used on the catwalk and on fashion shows as a way to demonstrate artistic vision. However, it doesn’t have much input outside of that, especially in areas like colors, trends, and styles that are going to be well adopted.
AI needs to be seen in a different light, through case studies, industry adoption, and greater thought leadership. While companies like Google and Facebook are working with designers regularly, there isn’t much innovation on the scale front. There also aren’t many examples emerging organically, where AI has shaken up the luxury fashion market yet.
The marginal value addition of AI
Luxury designers believe in the business impact of AI and how it can make logistics and supply chains more efficient. However, it can’t create disruptive value in the design and styling side of the luxury fashion market. There is marginal utility in the space of AI when it comes to coming out with new designs that work across markets.
Designers are still needed to make the final call and understand how new trends are being formulated. This makes the industry reliant on key designers that create new innovations in the luxury fashion space. The industry still needs to see AI as a real challenger to the traditional ways of luxury fashion.
The dynamic nature of luxury fashion
One of the greatest challenges to AI adoption is the dynamic nature of the luxury fashion market. There are so many variables to account for that it becomes increasingly difficult to keep entering data at scale. That’s why designers opt for connecting with each other to uncover field-driven insights. They’re able to strengthen their decision-making processes by having meaningful discussions and understanding market demand. The business of fashion event promotion.
They’re also able to review orthogonal industries to uncover insights into textures, colors, and designs. They even have the freedom and flexibility to experiment further. This has made the process of AI adoption that much more challenging. Designers can’t keep entering data or reviewing Machine Learning code without having a data-intelligence approach. That intelligence mode is required to create actionable insights out of the raw data.