Highlights from BoF Professional Summit 2023
- – The BoF Professional Summit 2023 was an event organized by Business of Fashion that addressed the impacts of artificial intelligence and Web3 on fashion and technology.
- – The event featured panel discussions, lectures and workshops presented by industry experts and leaders.
- – Participants explored the challenges and opportunities that AI and Web3 present for the fashion industry, including product customisation, improving the customer experience and sustainability.
- – The role of technology in creating a circular economy was discussed and how brands can use AI and Web3 to improve transparency and traceability throughout the supply chain.
- – The event also highlighted the importance of collaboration and building strategic partnerships to drive innovation in the fashion industry.
Examples of participants included:
The BoF Professional Summit 2023 explored three key topics: the impact of artificial intelligence on the fashion industry, the importance of Web3 for fashion and technology, and the need for collaboration and strategic partnerships to drive innovation. The event highlighted how AI can be used to personalize products, improve the customer experience, and promote sustainability in fashion. In addition, Web3 was discussed as a crucial component for fashion brands to improve transparency and traceability in their supply chains.
The Era of Super-Users
Michael J. Wolf’s talk at the BoF Professional Summit 2023 highlighted the importance of identifying and rewarding super-users to drive loyalty and business growth. He explained that many brands are using the world of gaming to create relationships with their most loyal customers, by creating their own games and promoting events within these games. Wolf also noted that many companies are forming strategic partnerships with gaming companies to create immersive experiences for their customers, increasing interaction and engagement.
Robert Triefus, Chief Brand Officer at Gucci, emphasised the importance of authenticity in engaging with communities on the new Web3 technologies.
Levi’s will test AI-generated models for e-commerce
Amy Gershkoff Boles, Global Head of Digital and Emerging Technology Strategy at Levi’s, announced that the brand will start testing AI-generated models for its online platform. The project aims to improve the representation and inclusivity of the models on the website, giving customers the opportunity to see themselves reflected in the models used. While not disclosing the name of the partner company, Boles revealed that they are a specialist in AI-generated models and will help Levi’s to test and refine the technology before rolling it out more widely. The use of AI-generated models could potentially reduce the need for traditional photoshoots, making the process more sustainable and cost-effective.
All of these shared strategies are simply evolving the foundations of marketing that have always been present: identifying your target audience, understanding their communities and building empathy with them. For example, brands like StockX and Puma are present on Discord because it is the preferred platform for communities involved in NFT projects and streetwear/sneaker culture. By being present and active on these platforms, brands can better understand the needs and desires of their target audience and build authentic relationships with them. In the end, it all comes down to creating value for the customer and building meaningful connections with them.
The BoF Professional Summit 2023 brought together experts and thought leaders in the fashion and technology industries to discuss the latest trends and innovations. Speakers highlighted the increasing importance of web3 technologies and AI in fashion, with discussions around the potential impact on supply chains, customer experiences, and marketing strategies.
The summit also emphasised the need for brands to prioritise authenticity, inclusivity and sustainability, with a focus on engaging with super-users and using emerging technologies to create more personalised experiences for consumers.
The Levi’s announcement about testing AI-generated models for e-commerce showcased the potential for technology to improve the efficiency and inclusivity of fashion retail.
Overall, the summit highlighted the importance of staying up-to-date with technological advancements and leveraging them to drive innovation and growth in the fashion industry.