AI in Fashion: For Better or For Worse
Written by Bella Matias
Streamlining production and manufacturing as well as predicting demand is no easy task, but AI is undoubtedly helping. In fact, a report from Research and Markets projects that the AI industry in fashion will grow from 0.91 billion dollars in 2023 to 3.72 billion dollars in 2027. Evidently, big fashion corporations will spend considerable amounts of money to accurately predict upcoming trends, as well as future demand for certain products. In turn, these predictive models are able to effectively manage the supply chain by ensuring that products are not overproduced, therefore mitigating waste. These advancements seem incredibly beneficial for increasing sustainability in the fashion industry. Yet, there are valid concerns regarding the use of artificial intelligence in an industry that is creatively driven. After all, it's not far-fetched to believe that the use of software may compromise the integrity of an industry that relies so heavily on the intricacies of human skills and design.
References:
The Business Research Company. “AI in Fashion Global Market Report 2023.” Research and Markets. March 2023. https://www.researchandmarkets.com/reports/5767217/ai-in-fashion-global-market-report?utm_source=GNOM&utm_medium=PressRelease&utm_code=k2z2nv&utm_campaign=1749199+-+AI+in+Fashion+Global+Market+Report+2022%3a+Machine+Learning+to+Define+Sector%27s+Direction+Moving+Forward&utm_exec=como322prd
Edited by: Annie Stockwell, Melanie Gubernik, Sophia Buckholtz, and Roan Vaughan
DEI Reviewed by: Katherine Rubinstein