By | Bernard Marr | Internationally best-selling author, keynote speaker, futurist, and strategic business & technology advisor
Fashion is one of the biggest industries globally, and revenues in the global apparel market are expected to reach $2.25 trillion by 2025 – but it’s not the first industry that probably pops into your mind when you think about artificial intelligence.
However, designers and brands that embrace the latest technology to push the limits of design, manufacturing, and production will come out on top in the fast-changing world of fashion.
Here are a few of the biggest tech trends that are transforming the fashion industry.
Predicting Fashion Trends with Machine Learning
Fashion brands are reshaping their approach to product design and development by predicting what customers will want to wear next.
Trend forecasting is typically labor-intensive, involving manual or digital observation and data collection from fashion designers and influencers. By harnessing data directly from users, brands like Finery and StitchFix can have fast, easy access to information that helps them plan the styles people will love and know what quantities to manufacture.
Stylumia deploys its AI and machine learning platform to help fashion and lifestyle brands forecast demand, spot trends, manage inventory, and make better business decisions.
Shoppers can benefit directly from artificial intelligence during their online browsing experiences, too. TrueFit uses behind-the-scenes data to help their customers find the perfect bra fit, and B2B solution Virtusize helps brands build in virtual sizing tools to increase customer satisfaction and reduce returns.