Is AI Going to Change the Beauty Industry?
South Korean cosmetics giant AmorePacific has launched an innovative AI beauty lab. The goal is to capture customers with its ability to custom-mix face products. While also AI to recommend the most suitable lipstick colors.
Personalized Skincare with AI:
“Everyone has their own specific skin tone, but usually they buy the most common color available over-the-counter,” said Kwon You-jin, a 32-year-old customer at AmorePacific’s bespoke skin cosmetics service. “Knowing more data about my own skin, and seeing the before-and-after firsthand, is a very good experience.”
After receiving an AI-generated report on the condition of her skin, Kwon witnessed a robot mix a foundation that perfectly matched her skin tone. This level of personalization is a game-changer, setting a new standard in the cosmetics industry.
Industry-Wide Adoption
AmorePacific is not alone in embracing AI to boost sales and enhance customer experience. Global brands such as L’Oréal S.A. and LVMH-owned Sephora are also utilizing AI to tailor products to customers’ needs. The global beauty industry, including cosmetics, hit $625.6 billion in sales in 2023, a steady climb since the COVID-19 dip in 2020, according to Statista Market Insights.
AmorePacific’s AI system can recommend the best choices for customers from 205 different skin foundations and 366 different lip product colors. “We used deep learning machine learning techniques to take the process that experts use to evaluate data from many peoples’ skins into an (automated) service,” explained engineer Lee Young-jin, an adviser for AmorePacific’s custom beauty business.
Efficiency and Accuracy with AI
Analysts suggest that using AI instead of human consultants can speed up product development and reduce variables. “No matter how professional an expert is, individual deviations can be large, and evaluating cosmetics by consulting 30 to 40 experts all the time is difficult,” said Yang Yong Suk, principal researcher at South Korea’s Electronics and Telecommunications Research Institute (ETRI), who co-developed a deep learning model for a cosmetic product’s texture.
Yang highlighted that product development time has shortened, and new products are launched faster than ever. “Combining AI technologies could lower hurdles further,” he added, emphasizing the efficiency and accuracy AI brings to the table.
Future of AI in Beauty
Like other industries, it’s clear that the beauty industry is interested in harnessing the power of AI. This is seen as the market for AI in beauty and cosmetics is projected to more than double from $3.27 billion in 2023 to $8.1 billion in 2028. The numbers are according to analysis provider Business Research Company.
Services such as personalized beauty recommendations, skin analysis and diagnostics, and virtual makeup artists are expanding, driving this significant growth. And as reported last year, AI is driving growth in multiple sectors.
So it will be interesting to see how AI will change the face of the beauty industry.
Originally posted on OpenDataScience.com
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