How to AI in beauty: Bridging the gap between insights and impact
During our hybrid event, we presented concrete and practical approaches to identify and implement AI use cases in different parts of the value chain in the beauty industry.
AI offers businesses in diverse industries an opportunity to boost their top-line performance while optimizing operational costs. Its transformative impact on e-commerce, notably, presents various advantages, including possibilities to automate processes, generate data-driven customer insights, and enhance supply chain efficiency.
However, despite the rapid advancements in AI technology, only a small percentage of companies are actively implementing AI solutions. Our presentation focused on ways companies can bridge the gap between hype and real business impact.
The event, realized in cooperation with VKE-Kosmetikverband, took place at our Munich headquarters on September 19th, 2024.
Keep reading to unlock our key insights shared in the session, or fill in the form below to access the complete presentation!
Our key insights:
- AI Beyond the Hype: Only 12% of European companies with 10+ employees are using AI solutions, highlighting the gap between media excitement and business reality. Companies must move beyond the hype and focus on practical AI applications that align with their business needs.
- Business Value First: AI initiatives should deliver measurable business value, such as revenue growth or cost efficiencies. Focus on real-world use cases rather than just exploring technical possibilities.
- Think Big, Start Small, Scale Fast: Begin with small-scale pilots to demonstrate value and build organizational buy-in. Successful AI adoption requires a strategic approach: ideation, prioritization, pilot testing, and scaling.
- Personalization is Key: In the beauty industry, AI can drive personalization at scale, from virtual try-ons and individualized marketing to personalized product recommendations. Utilize AI to engage with customers on a deeper, more personalized level.
- Efficient Content Creation: AI can drastically reduce the time and cost of creating marketing assets. For instance, AI-generated images and videos can replace traditional photoshoots, speeding up content production and enhancing creativity.
- Integrate AI into Workflows: Instead of relying solely on traditional workflows, integrate AI into individual process stages—from ideation with ChatGPT to asset creation with tools like MidJourney and Runway ML. This approach can significantly enhance efficiency and output quality.
- Legal Considerations: While AI-generated content offers exciting possibilities, be cautious about potential legal issues. Avoid generating images that resemble real people or private properties without proper rights to avoid copyright infringements.
- AI for Competitive Intelligence: Use AI to gather and analyze competitor data, such as pricing and product strategies, to maintain a competitive edge. AI-driven insights can enhance decision-making and strategic planning.
- Train dedicated AI Models and Solutions: For complex use cases, consider training custom AI models tailored to your business needs. This can improve the consistency and quality of AI-generated outputs, ensuring they align with brand standards and specific requirements.
- Collaborate and Learn: Engage with AI and data experts to bridge the knowledge gap and accelerate the implementation of AI solutions tailored to your business. Workshops and collaborative sessions can help identify and prioritize high-impact use cases.
Want to access our key insights and move beyond the hype to unlock the true potential of AI in the beauty industry? Fill in the form below to download the presentation!
