What can be used to make processing data, facial recognizing, and promoting certain products easier? The use of Artificial Intelligence (AI) has begun to grow and expand largely amongst the beauty industry. There are many different ways AI can be used within the beauty industry; from gathering and processing data, impacting market growth, promoting virtual try-on options and more. With the use of AI, it can help assist the lives of industry workers and grow companies in different ways that stay up-to-date with technology as it develops in the upcoming years. Every year technology is changing, and most customers follow the new trends and like to see the way companies adapt to the changes. Artificial intelligence can widely impact the beauty industry in a positive way and with the use of AI companies can develop easier ways to gain customers, which overall increases market growth.
Artificial intelligence can work in many ways, and as a simple definition AI is defined as “the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages” (“Artificial Intelligence”). Overall, Artificial Intelligence is used to help create human jobs easier and allow the use of technology to take over. Some people may think that AI will overtake the jobs of employees, especially within the beauty industry, but in contrast it actually acts as an aid to those workers and helps them do jobs more efficiently.
There was an article written by Paige Valley and others that explained the different ways AI has impacted the beauty industry and the way it is applicable to cosmetics. The article talks about the use of deep learning, machine learning and computer vision within the use of artificial intelligence. “AI has been integrated into many facets of cosmetics and personal care in the past several years thanks to its relatively easy manipulation. This article highlights select examples, including those that are consumer-facing as well as behind-the-scenes in product development” (Valley, et al). Research shows that companies have begun to adapt their products and innovative virtual options in relation to the use of AI.
“As the hype around AI has accelerated, vendors have been scrambling to promote how their products and services use AI. Often what they refer to as AI is simply one component of AI, such as machine learning. AI requires a foundation of specialized hardware and software for writing and training machine learning algorithms” (Burns, Ed, et al).
As beauty companies use artificial intelligence in their product developments, they ultimately increase their market growth.
Covid-19 affected the economy as a whole, especially when it came to product development. However, during this time is when companies were developing and incorporating ways to create as much capital as possible. The way companies mainly did this was using technology to offer customers to purchase goods through virtual/online options. Attending virtual conferences was in high demand during the time of quarantine. This information directly relates to the beauty industry because the most innovative way to influence attention to their company was with the use of AI, and this ultimately led to market growth, “global Artificial Intelligence (AI) In Beauty and Cosmetics market is valued at US$ 2.70 Billion in 2021, and it is estimated to reach US$ 13.34 billion by 2030, with a promising CAGR of 19.7% between 2021 and 2030” (Tilekar). Due to this new technological development, beauty corporations have been able to increase their market growth.
Priyanka Tilekar wrote an article that explained the global effect AI had on the beauty industry market growth, including the way competition grew as a result of it,
“Due to advancements in A.I. technologies, and the beauty industry is characterized as a personalized and engaging market that generates a large amount of data, beauty manufacturers are compelled to make data-driven findings on their strategies to remain competitive. The beauty industry has undergone significant change in the last ten years as a result of the introduction of new technologies and a shift in consumer purchasing habits” (Tilekar).
Bigger corporations like Sephora, Olay, L’Oreal, and CoverGirl have benefited from the use of AI and have been able to collaborate with each other to create new products for the market.
Changes of the economy including; lifestyle, and technological changes are constantly impacting the beauty industry. “AI provides the power of personalization, process automation, augmented decision making, and digital supply chain networks, which have traditionally required human intelligence” (Priya). With AI new processes are developed beyond human intelligence and create a way for others to benefit from it. There are an abundance of product developments using artificial intelligence and these products are prospering within the industry. One of the most impactful AI developments is “ virtual try-ons”.
The economy strongly depends on the use of technology at this day in age, “Consumers now have their smartphone with them at all times, and through the power of beauty tech, can snap a photo to try on makeup shades and receive personalized beauty recommendations in seconds” (Fjermedal). The benefit is simply due to the increase of cell phone use and the fact that almost everyone has access to the internet, “A total of 5.07 billion people around the world use the internet today – equivalent to 63.5 percent of the world’s total population” (“Digital Around the World”). This statistic means that if interested in, over 60% of the population can benefit from the new technology within the beauty industry.
The way artificial intelligence works with virtual try-ons is that, “the data collected is analyzed and compared with the application’s database. Then, machine learning algorithms match the customer’s unique skin profile and suggest a skin care regimen” (Jesus). As an example,
Nykaa introduced L’Oréal’s innovative, ModiFace, Al-powered virtual try-on technology. Introducing this new technology is expected to improve cosmetics fans’ aesthetic experience when purchasing beauty goods online. Photorealistic results and AI-assisted shade calibration are possible with ModiFace technology (Tilekar).
This is just one example of how AI has benefited a company like L’Oreal and what exactly it does for the user. ModiFace is a way to test products for the consumer and they are able to see exactly how it will look with the photorealistic possibility, before a consumer decides to purchase the product.
As artificial intelligence develops more and more, it begins to have a higher impact in different industries; one being the beauty and cosmetic industry. AI has helped companies to develop new products and in relation increase market growth. The new technological development offers an advanced way for consumers to try out different products and find what works best for them. Updates are constantly made to these developments to offer the best of the best to customers. Artificial intelligence has made processing data easier and more efficient for companies. With the products continuing to develop, AI offers opportunities to the beauty industry that no one saw coming. The best part is seeing how realistic these processes have become and how beneficial they will continue to be for this industry. As technology advances it will be very interesting to see what comes next!
Works Cited
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