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The Future of Luxury Brands: How AI is Changing the Game

Ahmed Reza

Over the past years, people all over the world have become infatuated with AI platforms like ChatGPT and Stable Diffusion. These platforms, while impressive, fail to tell the whole story as Artificial Intelligence (AI) is much more than tech’s latest trend. In fact, this technology is changing every aspect of our lives from healthcare and education to entertainment and business.

Whether you realize it or not, AI is likely already impacting your daily interactions with your favorite brands. From personalized product recommendations to chatbots handling customer service, AI has become a major driving force in how brands and customers perceive and interact with each other. Now, with AI receiving more funding and attention than ever before, you should get ready for your customer experience to change forever… Especially when interacting with luxury brands.

With personalized product recommendations, AI-powered chatbots handling customer service inquiries, counterfeit-detection AI, and even virtual styling assistants, luxury brands are investing in this technology to enhance their customer experiences. Companies like Burberry and Prada have been using AI to identify counterfeiting, inventory management, and to support their marketing efforts for years, which has prompted other brands to follow.

“Chatbots and virtual assistants are making customer interactions seamless and efficient. With natural language processing (NLP) capabilities, these AI tools can understand and address customer queries, providing instant support and elevating the overall customer experience,” says serial entrepreneur and Yobi’s founder Ahmed Reza.

While the applications of AI have been limited to a few brands with quite specific needs so far, companies like Yobi are seeking to change this. Yobi aims to change the way luxury fashion brands interact with customers by providing them with powerful AI capabilities across all interactions with customers like you.

The idea behind Yobi’s platform is pretty straightforward: Using AI to determine how customers feel. By performing what is known as sentiment analysis on your interactions with your favorite brands, Yobi is able to help them make better decisions to increase your satisfaction. As platforms like Facebook, Twitter, Whatsapp, Outlook, Zoom, Instagram, and many more are supported, this means brands don’t need to change how you can interact with them.
The rise of AI in the luxury industry also means that new brands will have an opportunity to compete with established brands. This, in turn, will favor consumers by offering more choices, better quality, and more competitive prices on their favorite luxury goods.

“AI-driven analytics can predict emerging trends, enabling luxury brands to stay ahead of the curve and develop innovative products that resonate with their discerning clientele,” adds Ahmed.

The luxury industry has made a name for itself in the tech world for always being at the front when it comes to introducing new technologies. NFTs, crypto, blockchain, and the metaverse, are only some of the technologies that brands in the industry have been exploring over the past years. Ai is only the latest technology to join the arms race… but it might very much be the most important.

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