Rafael Schwarz’s Post

I recently had the pleasure of hearing Jane Lauder speak, who is currently leading The Estée Lauder Companies Inc.'s AI task force. Part of her keynote focused on how #artificialintelligence will impact the beauty industry. She shared that with the emergence of AI, companies with the most proprietary data will have a clear advantage.   She also highlighted two key inflection points that have caused major changes in the beauty industry: 1️⃣ E-commerce 2️⃣ Smartphones/Social Media   And now, we're on the brink of a third inflection point – AI 🤖   Reflecting on these shifts, I was thinking about how e-commerce and social media were both changes that really democratized the ability of smaller/independent brands to compete against the big dogs in the beauty industry.   So during Jane Lauder’s keynote, I asked her – “How do you see AI changing the landscape for smaller brands? Will it make it easier or harder for them to compete with companies like Estée Lauder?”   As a brand marketer and storyteller, I loved her answer 🥰   She shared that AI will likely give an advantage back to heritage brands who have greater resources. But she also believes that the essence of storytelling, magic, and talent will always remain paramount. The ability for brands to connect with consumers on a deeper level will continue to be the ultimate differentiator.   What are your thoughts on how AI will impact the beauty industry? How do you think this will be different for emerging vs. established brands? Let’s continue this fascinating conversation.   #beautyindustry #AI #consumerinsights #brandstorytelling

FMCG Brands Get with AI & Digital! Forget crystal balls, these companies are using AI and data to see the future of consumer needs! #ITC's "Mission DigiArc" 🪄 is all about personalized experiences and using AI for product development.  They even have virtual tours of their dairy farms! #Marico's got its ear to the ground using Google search trends to launch new products like its onion hair oil.  And they're using AI skin analysis tools for personalized recommendations in premium skincare! ♀️✨ #Dabur's gone cloud-based ☁️ to improve services for everyone and access real-time data insights.  They're adapting faster than ever! #HUL's "re-imagining" itself as a data-driven, AI-powered, interconnected beast!  They're investing in beauty and digital to stay ahead of the curve. The future of FMCG is bright, data-driven, and personalized!  What other innovations are you excited about? #FMCG #AI #DigitalTransformation #Innovation #ConsumerInsights #FutureIsNow

In November 2023 I attended Financial Times' Future of AI conference in London. Surprisingly, the fashion and beauty industries were under-represented, with only Jane Lauder from The Estée Lauder Companies Inc. being a panellist. Together with one other attendee from the beauty sector, we were the only two representatives of our massive industries. Q1 2024 has been ripe with several publications addressing the opportunities offered by AI, from The Business of Fashion's reports to McKinsey & Company's research papers. Evidently - and as is the case for many technologies - fashion and beauty lag behind others and we are only scratching the surface. I believe this to come from the fact that AI and technology are not high on the CEOs or Boards agenda. Leadership in major fashion & beauty houses traditionally come from the royal path of marketing. More recently, there has been a major demand in fashion for merchandising experts to take the helm. One of the major headhunters I currently met indicated that 1 in 50 CEOs he placed came from a COO background. One of my observations from the conference was that AI opportunities will be transformed into tangible benefits if they are handled by cross-functional teams and not only by the IT departments as some may wrongfully assume. Cross-functional means that top leadership needs to be trained and COOs need to be given the mandate to support CEOs in this regard. Given the transformational power I see in AI for merchandising, I dare predict that the dawn of the merchandiser-CEO in fashion will soon be a thing of the past. What are your thoughts?

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Exciting times in the world of AI-driven innovation! 👏 L’Oréal and NTT DATA are redefining the online shopping experience Thrilled to see how this partnership is setting new standards for digital retail experiences! #AI #RetailInnovation #CustomerExperience #Collaboration #DigitalTransformation

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🌟 The AI Revolution in the Beauty Industry 🌟 The beauty industry is evolving at an unprecedented pace, fueled by the integration of artificial intelligence (AI) and machine learning. From personalized makeup recommendations to virtual try-ons and sustainable product development, AI is reshaping the way consumers interact with beauty brands. 💡 Personalized Beauty Experiences AI analyzes unique features, preferences, and past purchases to curate tailored recommendations and products for consumers. Facial analysis apps detect skin tone, type, and concerns, while virtual try-on tools enable customers to experiment with different makeup shades and styles virtually. These AR experiences offer benefits such as hygiene, convenience, and personalization, enhancing the overall shopping experience. 💡 Product Innovation and Development AI tools leverage massive amounts of customer data to identify trends, optimize formulas, and suggest new products tailored to customers' needs. Brands use AI for gathering feedback, analyzing ingredient databases, and generating new product ideas through generative AI. 💡 Optimizing Supply Chains for Sustainability AI-powered analytics tools help beauty brands optimize supply chains for sustainability by identifying waste and inefficiencies. From eco-friendly sourcing of raw materials to streamlining manufacturing processes, AI enables brands to reduce their environmental footprint while appealing to eco-conscious consumers. 💡 Generating Creative Ideas for Product Designs AI analyzes data on customer preferences, past purchases, and trends to identify opportunities for new products. By leveraging AI-based recommendation engines, brands can fill gaps in their product line and continually innovate to meet evolving customer needs. 💡 Enhancing In-Store Experiences AI-powered virtual assistants provide personalized product recommendations and guidance to customers in-store. Leveraging natural language processing, these assistants enhance the in-store shopping experience with personalized services and information. 💡 Ethical Considerations While AI offers numerous benefits, it also raises important ethical considerations regarding privacy, bias, accessibility, and human oversight. Brands must prioritize data privacy, reduce bias in AI systems, ensure accessibility, and maintain human oversight to ensure responsible and ethical use of AI in the beauty industry. Key players such as such as L'Oréal, Perfect Corp., Beiersdorf, Haut.AI , Shiseido, Procter & Gamble, Pure & Mine, Orbo.ai, EpigenCare, and Revieve are pioneering innovative technologies and partnerships to shape the future of AI in beauty. As AI continues to evolve, it will enable enhanced personalization, sustainable innovation, and transformative technologies that redefine the beauty landscape. Comment below on your thoughts on AI and the beauty space. #BeautyIndustry #AI #MachineLearning #Innovation #BeautyIndustryTrends #BlogBeautyBoss

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"Artificial intelligence (AI) is revolutionizing many industries, including the cosmetics sector. Cosmetic companies of all sizes are incorporating AI to improve their operations, research, and customer engagement." In Italy, the cosmetic industry saw an impressive growth of 8.9% in 2023, with e-commerce soaring by 12.5%. Notably, 11.9% of companies are already leveraging AI to enhance their business operations. AI's impact spans across various segments from optimizing supply chain management to innovating product development and enhancing customer interactions. Intellico has successfully implemented AI-driven solutions, such as the #MATILDE platform, which predicts optimal ingredient combinations for new formulations and helps anticipate constraints that may emerge only after several tests in the lab and along the production line. Embracing AI not only drives innovation but also positions companies to stay competitive in the rapidly evolving beauty industry. Learn more about AI’s transformative role in cosmetics on our blog. #Intellico #AI #CosmeticsIndustry #Innovation #DigitalTransformation https://zurl.co/4cIB

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