Brands investing in AI and AR are ‘growing in double digits’
The firm says some of the industry’s fastest-growing brands are embracing AI and are seeing considerable sales growth on the back of it.
“We have seen a growing number of beauty and cosmetics brands leveraging AI and AR solutions, and the brands investing in these technologies are growing in double digits,” Perfect Corp. founder and CEO Alice Chang told CosmeticsDesign Asia.
She said that Perfect Corp. was supporting “hundreds of brand partners around the world who are leaning into this digital transformation”, adding: “We believe AI and AR will continue to be at the forefront of digital acceleration and user experience in beauty and fashion in the years to come.”
Product recommendations tailored to personality traits
Chang made these comments in the context of the launch of AI Personality Finder, the latest addition to the firm’s suite of AI and AR-powered SaaS (Software as a Service) solutions.
Powered by its patented AgileFace technology, the new technology is anchored in the so-called ‘Big Five’ personality traits used in psychometric tests. These are: extroversion, conscientiousness, openness, agreeableness and neuroticism. Based on the analysis, the AI engine will match consumers with several possible personality traits and deliver personalised product recommendations across a brand’s e-commerce channels.
“By integrating the technology, beauty and cosmetic brands can create a seamless omnichannel strategy that provides customers with immersive, entertaining and personalized experiences. As a result, customers’ online shopping experiences can be greatly enhanced,” said Chang.
She explained that through these interactive experiences, customers can spend more time connecting with a brand, which in turn drives “impactful results” for brands themselves.
Addressing deterrents to adoption
One reservation that international beauty brands may have about adopting this type of tech is whether it is capable of working across all ethnicities.
However, Chang explained that this was not an issue with AI Personality Finder, as it integrated AI technology that was trained with a diverse dataset encompassing all ethnicities and demographics.
“This AI technology integrates with facial detection technology to generate a personalized analysis and product match. This ensures that the technology and AI analysis provides highly accurate and inclusive results that can benefit consumers of all ethnicities and backgrounds,” she said.
She also headed off potential concerns about the complexity of implementing this solution, saying: “Although the solution is powered by advanced technology, it does not require extensive development hours to implement.”
When partnering Perfect Corp., brands could typically implement the technology within a week across their web and mobile shopping channels, she said.
Accessible to all?
Asked whether realistically, the tool will only be accessible to brands with big budgets, she replied: “At Perfect Corp., we strive to provide brands of all sizes with AI and AR solutions that drive customer engagement and sales. Although we offer a comprehensive site of beauty and fashion tech solutions for larger brands and enterprises, we also offer self-service options for small and medium-sized companies. With this robust catalogue of offerings, brands of all sizes can upgrade their platforms and provide new entertaining and personalized experiences regardless of their scale or size.”
She said AI Personality Finder “does not require a large IT budget to implement” and is currently available to “enterprise brands”, with plans to bring the solution to small businesses in the future.
At present, AI Personality Finder is available in a demonstration capacity on Perfect Corp.’s website, with plans to roll it out to the beauty industry in the “upcoming” year.