BoF’s technology correspondent Marc Bain joins Imran Amed to discuss Silicon Valley’s latest craze, and its potential for the fashion industry.
Background:
As chatter around NFTs, virtual reality and the metaverse dies down, conversation about generative AI, a form of artificial intelligence that makes novel content when given specific prompts, is heating up. Artificial intelligence has been around for decades, but recent advances like Microsoft-backed ChatGPT, which generates sophisticated text and DALL-E, which does the same with images, have set the groundwork for significant shifts in how culture and businesses operate. While specific use cases are still being ironed out, the possibilities for fashion could be transformative.
“We’ve gone through these hype cycles with things like the metaverse. This is one I think could be different…” said BoF technology correspondent Marc Bain. “This is something where you can see the real-world applications.”
Key Insights:
- There are many potential applications for generative AI in fashion: e-commerce sites could deploy it in chat boxes, fast fashion brands could ask it to produce styles based on customer data, and designers could use it for mood-boarding and colour conception.
- But there’s a level of expertise AI doesn’t have yet. It can produce images based on past analysis, but doesn’t understand the technicalities behind garments, for example.
- While there’s skill to crafting prompts for technology like ChatGT, one of its most promising aspects is its ease of use. Anyone can use it without much learning.
- AI is shaking up search on the internet, too. Bing is using ChatGPT to produce a technology that wouldn’t just give users links to pluck through, but direct answers to queries.
We will further address the critical topics discussed on this podcast at The BoF Professional Summit: Artificial Intelligence, Web3 and an Inflection Point in Fashion Tech on March 22, 2023.
Join us at The Times Center, New York – or via the global livestream – together with global business leaders, technologists and creative innovators from brands including Gucci, Ambush, StockX and Levi’s to gain actionable insights to inform business strategy, optimise supply chain and retail operations, and leverage new channels to engage with customers.
Purchase your ticket before February 28, 2023 to secure your place at the early bird rate or register for the livestream now. Click here to sign up now.
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