Nykaa to help customers choose makeup shades that work for their skin tone.
Image by L'Oréal Groupe
Of course, L'Oréal isn’t the only one making waves in this sector. A market intelligence research report by InsightAce Analytic, the global Artificial Intelligence (A.I.) in Beauty and Cosmetics market size was valued at US$ 2.70 Billion in 2021, and it is expected to reach US$ 13.34 Billion in 2030, record a promising CAGR of 19.7% from 2021 to 2030. This includes current innovations like John Paul Mitchell Systems’ AI-powered hair analysis tool, MAC and Charlotte Tilbury using AI similar to ModiFace to help online customers make better colour cosmetics choices, Decycher Cosmetics’ personalised foundation, and YSL Beauty’s Rouge Sur Mesure, an at-home device that creates your preferred shade of lipstick depending on what you’re in the mood for that moment, among many other innovations.
In 2021, Coty announced a partnership with Perfect Corp, to help design more nuanced customer experiences with their brands like CoverGirl, Sally Hansen, and their fragrance portfolio. Other brands flirting in the arena include Estee Lauder (data showed a higher conversion rate after they introduced a virtual app where customers could try on different lipstick shades), Function of Beauty, Nioxin, Givaudan, Shiseido, and Olay among others.
“Artificial intelligence will help bring better services, more inclusive beauty, more targeted beauty, more personalized beauty to our consumers, irrespective of where they shop,” explains Kaur.
What initially started out as tracking and customising customer needs and demands are now evolving into virtual mirrors and personal assistants to help make buying decisions. Covid and lockdowns sped up the acceptance process, making consumers more comfortable with what was previously unnerving. Not all of it is as accessible to affordable as it should be, but like all new technology, there is no doubt it will soon be. AI isn’t necessarily the intrusive villain as it’s often portrayed to be. Instead, it’s a much needed disruptor that has the potential to make the industry more accessible and democratic. And as with everything, its power to change for good lies in the hands of whoever wields it.