The Fashion Industry Is Getting More Intelligent With AI
As long as humans have started to wear clothes, we’d have the desire to express our own individuality, and one way to achieve that is through fashion. The fashion industry is one of the biggest in the world, estimated at about 3 trillion dollars as of 2018, representing 2 percent of global GDP. Much of brick-and-mortar traditional retail as well as online e-commerce is dedicated to the sale of clothing and fashion items. So much so that Amazon acquired shoe retailer Zappos for $1 Billion in 2010, and major retailers such as Walmart, Target, Amazon, and others have themselves entered into the fashion retail business through their own brands and brand partnerships. Despite the established nature of the fashion industry, AI is fundamentally transforming the industry from the way that fashion companies manufacture their products to the way they are marketed and sold. AI technologies are transforming the fashion industry in every element of its value chain such as designing, manufacturing, logistics, marketing and sales. Read more at Forbes.
