Get Ready… No, I Mean It
Today in this 9th edition of Fashinnovation Worldwide Talks here in New York addressing a conscionable future in fashion, there’s no doubt that fashion sustainability is here, but there’s another fierce aspect that we can no longer ignore, Artificial Intelligence: AI, fear and speculation are apparent, but the looming consequence is not embracing it, and not understanding how AI will change the fashion industry to upheavals we couldn’t even imagine, the only action now is to learn more about it for your brand/ business.
Instead of asking many questions about it, DANIEL PLUS LAUREN asked one simple question to Lori Schafer, CEO at Digital Wave Technology, Inc., with sourcing encouraged to be domestic and local, is it possible to forecast fashion trends in 2 weeks than the usual 1 to 2 year time frame, the answer is yes, because you have not only AI software available, but the ability to harness your sustainable source materials nearby, where it’s possible to forecast trends in fashion at an ongoing basis, sans 1 to 2 years, and now in just 2 months.
In order for this fashion upheaval to be realized, brands/ businesses absolutely must have access to sourcing nearby, dependent on having an iron-clad plan on how to turn fashion trends around on record short amounts like 2 weeks to 2 months instead of 1 to 2 years which can reduce lead time to develop a product as it is already 3 years, shrinking it down to just 2 months, a ridiculously fast process that no one will quite get at first.
On the upside of the fashion industry transitioning to AI, there definitely will be an influx of smaller businesses and AI creators cropping up who understand the power of how AI works, it could have the potential to flatten the power of fashion conglomerates due to the influx of independent AI brands and business, and the lack of the media conglomerate understanding and adapting AI.