The fashion industry did $3 trillion in business, 2% of global GDP in 2018; e-commerce fashion amounted to $520 billion in 2019. AI is poised to revolutionize the fashion industry by providing insights into fashion trends, purchase patterns, and enabling better inventory management. The global brand H&M has been applying AI solutions to boost business operations. One example is a system to organize and allocate masses of unsold stock to retail stories with highest demand, reducing the need for discounted sales. This is achieved by optimizing the supply chain and inventory management, reducing the amount of wasted clothing.
Oct-2-2020, 18:40:16 GMT