By Aarthi Ramamurthy, CPO at Rithum
Artificial intelligence. The hot topic on everyone’s mind. With large language models like Chat GPT and Baird moving AI from science fiction to part of our everyday lives, the next question is how it will impact our places of work…
For the fashion sector, AI has the potential to be transformative. From trend prediction to product mapping and inventory management, AI can increase efficiency and reduce waste, having a direct impact on a brand or retailer’s profit margin…There’s no doubt that AI is set to revolutionise fashion and retail, those who embrace and integrate these new advances will be the ones to stay ahead of the competition. AI has the potential to improve the industry, both for retailers and for consumers, with new levels of efficiency, trend prediction and personalisation. In a time when budgets are being squeezed, customer expectations are higher than ever and brands are being held more accountable for their waste, AI could really be the answer to the industry’s prayers.
Read the full article in Fashion Capital.