The fashion industry is undergoing a revolution, with Artificial Intelligence (AI) playing a major role in different aspects of the business, from design to manufacturing, supply chain logistics and marketing. AI is transforming the industry by helping to achieve three main objectives: hyperpersonalization, environmental sustainability and productivity. AI-based predictions are informing or automating decisions in the fashion industry, from marketing, pricing and inventory management to product development. It is also helping to address the growing concern for sustainability in the fashion industry. Retail giants such as Amazon and Walmart are now using machine learning systems that can identify the place and, in the near future, design fashion trends that customers prefer to buy.
AI is also being used to create virtual style assistants and interactive shopping experiences. Mass customization is another area where AI is being utilized in the fashion industry, as companies modularize a product by offering a range of options for the different components of the product. Hyosung TNC, a Korean textile company, has installed intelligent manufacturing systems in its spandex factories in China and Vietnam. To better understand the role of 4IR technologies in the global fashion industry, this study examines what, why and how these technologies are being applied to address the industry's main challenges from a macroeconomic perspective. Fashion forecasting is another area where AI is being used. It deals with predicting new fashion trends: colors, style techniques, fabric textures, etc., that will appeal to consumers. AI is revolutionizing the fashion industry by providing hyperpersonalization, environmental sustainability and productivity.
It is helping retailers such as Amazon and Walmart identify customer preferences and design fashion trends accordingly. AI-based predictions are informing or automating decisions in the fashion industry from marketing to product development. Mass customization is another area where AI is being utilized in the fashion industry. Hyosung TNC has installed intelligent manufacturing systems in its spandex factories in China and Vietnam.
Finally, AI is being used for fashion forecasting to predict new trends that will appeal to consumers.
