Office Hours: Leveraging AI, Joining a Family Business Board Position, Do I Sacrifice My Dream for the Person I Love?
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AI in Skincare
highlights the transformative role of AI in the skincare industry, likening its impact to that in drug development. Companies like Revella are utilizing AI to identify unique molecules, such as Fibrokelin, which are then marketed for their skin rejuvenating properties 1. This technology accelerates the traditionally slow testing process, allowing for more rapid product development and experimentation.
AI is being used in the skincare industry to discover new brand ingredients similar to the way AI is increasingly used in drug development.
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AI and AR technologies also enable personalized skincare experiences, with virtual try-ons becoming more common, as demonstrated by L'Oreal's acquisition of Modiface 2.
AI Marketing
In the beauty industry, AI is not only revolutionizing product development but also marketing strategies. explains that AI-driven marketing can create significant brand differentiation, even if the technological advancements themselves are not groundbreaking 2. He cites Burberry's success in leveraging PR to position itself as a digital leader, despite lacking substantial technological infrastructure.
In every industry there are going to be a small number of brands that invest in and really go hard at AI.
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This approach highlights the importance of strategic communication and branding in enhancing a company's image and market position.
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