The OTB fashion group held its first Artificial Intelligence Day with Microsoft Italia, Bain & Company, and Adobe Italia to promote awareness and encourage discussion. The event involved over 50 managers from OTB’s holding company and various brands. It took place at the Microsoft Italia headquarters in Milan.
The event delved into artificial intelligence’s opportunities for the fashion and luxury sector. AI is recognized as a fundamental element in luxury companies’ value chains and processes. It plays a role in product development, merchandising, marketing, supply chain management, sales, distribution, and customer relations.
Here is how AI can play a pivotal role in these sectors:
- Product development: AI can analyze customer data to identify trends and preferences. This information can then be used to develop new products that are more likely to succeed.
- Marketing: AI can personalize marketing campaigns, boosting engagement and conversion.
- Supply chain management: AI can optimize supply chains by forecasting demand, managing inventory, and tracking shipments. This can help reduce costs and improve efficiency.
- Sustainability: AI can be used to reduce the fashion industry’s environmental impact. For example, AI can be used to design more sustainable materials and to optimize production processes.
Renzo Rosso, founder of OTB, believes that while technology and AI are important for fashion and luxury, they should not replace craftsmanship, creativity, and essential skills.
Microsoft Italia’s CEO, Vincenzo Esposito, emphasized the significance of AI in business, particularly in the fashion and luxury industry. Microsoft works with companies to help them with digital transformation, discover AI use cases, and leverage new technologies to drive growth and innovation.
The event showcased the increasing importance of artificial intelligence in the fashion and luxury industry. OTB demonstrated its dedication to staying at the forefront of technological advancements in this sector by collaborating with leading technology partners and academic institutions.
We believe that AI has the potential to make a significant positive impact on the fashion industry. It can help to make the industry more efficient, sustainable, and customer-centric.