The report produced by Grand View Research in 2020 predicts that the global market for artificial intelligence in the beauty industry will grow at a CAGR of 37.9% from 2020 to 2027. An example in figures is provided by Dyson. The beauty tools firm invested a total of an additional £2.75bn into the business in 2020 to conceive revolutionary products and technologies with global teams of engineers, scientists and software developers focused on – among others – artificial intelligence.
Algorithms, websites, filters, apps and chats surrender to our image (or vice versa) so that we look better, so that we look better, save time, and get it right when it comes to personalizing our care. “Custom” is the key word. Sometimes in real and face-to-face, other times virtual. And all thanks to our generosity when it comes to giving data and clues about who we are, what we are looking for, what we want and what we aspire to. The machines pick it up and are smart and quick to come up with the solution.
One example is regality (regality.io), an algorithm that helps find the perfect gift (cosmetics, perfumes, fashion, experiences…) based on a person’s profile. “It is enough to fill out a questionnaire and in less than a minute we will have the answer,” explains the CEO and one of the creators of this original idea, Martín Lela.
Iván Borrego, general director of the Beauty Cluster (beautycluster.es) is convinced that soon “we will not
You will be able to remain competitive without incorporating artificial intelligence tools into business processes.” This association works to train companies in AI and to connect them so that they develop common projects. “There are companies that have understood this from the beginning and are investing resources in incorporating AI tools” confirms Iván Borrego, also promoter of the Digital Beauty Awards (digitalbeautyawards.com) that give visibility to the best initiatives in this field.
Those who manage to digest – without much effort – all the news that floods the digital world are the youngest, who are increasingly aware of their image. This is reflected in the study “Generation Z and fashion: the relationship between Spanish youth and fashion in a ‘physical’ world” carried out by Mazinn and Zetalab in February 2023.
It states that 82% of respondents affirm that the image in the digital world will be more important in the future. 78% value the importance they give to their personal image in the digital environment with a score of 3.5 or more (out of 5). And 66% of TikTok users surveyed do so to save useful content (advice or tips) around fashion and beauty. The survey was carried out on a total of 360 young people between the ages of 15 and 25. A long way to go and no turning back.
