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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Now South Korean beauty fans may thank AI for the right foundation shade.

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image credit: silicon republic

Customers have booked South Korean cosmetics giant AmorePacific’s artificial intelligence (AI) beauty studio, where robots custom blend face products and the latest technology proposes lipstick colors.
A 32-year-old customer at the firm’s personalized skin cosmetics service, Kwon You-jin, said, “Everyone has their own specific skin tone, but usually they buy the most common colour available over-the-counter.”
“Knowing more data about my own skin and seeing the before-and-after firsthand is a very good experience,” she remarked after obtaining an AI-generated skin report.
A robot created her foundation by mixing it to match her skin tone.
L’Oréal S.A. and LVMH-owned  Sephora are using AI to personalize goods to clients’ demands to improve sales.

According to Statista Market Insights, global beauty sector sales, including cosmetics, reached $625.6 billion in 2023, up from 2020’s COVID-19 drop.

AmorePacific promises AI will let customers choose between 205 skin foundations and 366 lip product colors.
“We used deep learning machine learning techniques to automate the process that experts use to evaluate data from many people’s skins,” said AmorePacific’s bespoke beauty business consultant, Lee Young-jin.

AI instead of human consultants might speed up product development and eliminate variables, analysts claimed.
“No matter how professional an expert is, individual deviations can be large, and evaluating cosmetics by consulting 30 to 40 experts all the time is difficult,” said Yang Yong Suk, principal researcher at South Korea’s Electronics and Telecommunications Research Institute, who co-developed a deep learning model that opens a cosmetic product’s texture tab
“These days, product development time has shortened, and an ever-larger number of new products are launched faster,” he said. “Combining AI technologies could lower hurdles further.”
Business Research Company predicted in January that the market for AI in beauty and cosmetics will more than double from $3.27 billion in 2023 to $8.1 billion in 2028 for services like personalised beauty recommendations, skin analysis and diagnostics, and virtual makeup artists.


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