And it’s all evolving fast. According to the consulting firm McKinsey & Co., generative AI could add anywhere from $150 billion to $275 billion to the apparel, fashion, and luxury sectors, over the next three to five years. Through generative text and image AI tools, fashion brands are able to hyper-personalize customer experiences that range from tailored product suggestions to live chat sessions to help people style themselves. And, of course, that has come with its own set of questions. Brands like Levi’s, for example, have announced that they’ll be using AI-powered models to diversify their e-commerce visuals, prompting concerns about the future of modeling, while a new AI-powered fashion magazine, titled Copy, has sparked concerns over the fate of creatives in fashion. Meanwhile, many consumers are skeptical about the use of their data, especially after the ChatGTP, the famous chatbot launched by the California-based company Open AI, experienced data breaches earlier this year.
