Fashion industry contributes approximately 2% to global GDP and has been growing at a decent pace in the past decades but it has seen quite a bit of disruption in the past couple of years. There has been fast changes in customer preferences with the advent of e-commerce and digital offerings, which poses significant challenge to traditional fashion retailers which sell via brick and mortar stores. The long fashion design cycles for tradition fashion houses tend to be one of the biggest bottlenecks towards agility in the current VUCA world. The customers have become more knowledgeable and more connected with the advent of Social Media, and has given additional powers to consumers. We try to explore how modern technologies like Artificial Intelligence and Machine Learning help the Fashion retailers stay ahead to this ever-changing customer experience.
Fashion provides human beings to define their individuality in a way and new designs provide avenues for human beings to express themselves. The design to shelf deployment lead time for Fashion Brand can be as high as 50+ weeks, which poses significant challenge in terms of hit rate, and sell through rates for new fashion mechandise. The elaborate Product Design / Sampling and Trade Show processes have kept these lead time higher but Digital Technologies can significantly help cut this lead time thus helping Brands to reduce the uncertainty in the consumer preferences. We look at the below use cases which can be adopted by Fashion enterprises for deriving efficiency thereby reducing long lead times.
Diese Geschichte stammt aus der March 2021-Ausgabe von CIO Review.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der March 2021-Ausgabe von CIO Review.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Cognitive Fashion Design Using AI And Automation
Fashion Industry is one of the top contributors to Global GDP and amongst the highest employment generator.
Blockchain-Based Cybersecurity For IoT
Arumani Subramanian completed AI/ML Information Technology from IIIT Hyderabad and Bachelor of Technology in Computer Science from Pondicherry Engineering College. His keen interest circles around making business profitable by digital innovations, and mapping digital pathway. He is an expert of Blockchain, RPA with right use cases and leads a team of architects and solutions team.
Artificial Intelligence & The Disruptive Chatbot
Chatbot Technology has always been a game changer whether it’s content, data or e-commerce - businesses underwent change to survive due to the changing consumer perception, business value and convenience.
How Financial Services Companies Are Striving Through The Data Age
With experience in account management, corporate account management, and regional sales direct, he is leading the firm.
RPA IN ACTION IN THE FINANCIAL SECTOR
A renowned professional in artificial intelligence, investment banking, managing consulting and profitability delivery, in the industry for 20+ years and consultations for 10+ Fortune 500 organizations.
PayNearby
DETERMINED TO CREATE A DIGITALLY FORWARD AND FINANCIALLY INCLUSIVE NATION
A SNEAK PEAK ON – BLOCKCHAIN TECHNOLOGY
Let’s begin this conversation by focusing on the fundamental aspect, i.e. by ‘Defining Blockchain.’
Impact Of Algorithms On Society
A common dystopian science fiction future is where the robots take over the world.
MULTIPLYING OPPORTUNITIES IN BIG DATA ANALYTICS
The advent of modern computer networks and the democratization of information has exponentially multiplied the amount of digital data being generated.
OMDENA
INTRODUCING NEW FRONTIERS OF PROBLEM SOLVING WITH AI