Key takeaways:
Entrepreneur and investor Peter Diamandis predicts that the future of shopping will be always on, thanks to ubiquitous augmented reality.
Artificial intelligence is in position to streamline and personalise the process, while virtual reality shopping can be successful if it creates a more social experience.
Brands should prepare for far more data collection by asking the right questions and using AI to correlate more details.
SAN FRANCISCO Heres the future of shopping, as Silicon Valley entrepreneur and investor Peter Diamandis sees it: augmented reality glasses will present an always-on shopping mode, artificially intelligent digital assistants will know your taste better than you and clothing will be made exactly to your measurements.
And it could happen faster than one might think, he says. Diamandiss book, The Future is Faster Than You Think, out today and co-written with Steven Kotler, outlines his vision for how a number of converging innovations will drastically and imminently change industries like retail and advertising.
Diamandis is in the business of looking toward the future. In 1994, he founded the X Prize Foundation, which rewards technological development and whose board of trustees include filmmaker James Cameron, media mogul Arianna Huffington and Google co-founder Larry Page. In 2008, he co-founded Singularity University, the Silicon Valley innovation school that counts Moncler among its pupils.
On the fashion front, Diamandis outlines three key developments on his radar: shopping through virtual reality, in which an AI fashion advisor is there to guide you; AR shopping that is supercharged by AI and 5G; and 3D printing and just-in-time manufacturing.
The proliferation of AI and AI assistants, he says, will play a significant role in intuiting what people want and influencing purchasing decisions.
The question is, can AI ultimately become a better fashion adviser to me than any human can?I believe the answer is going to be yes because AI will know me even better than myself, he says. But this decade is less about AI displacing humans [and] more about AI-human collaboration.
Here is what Diamandis thinks fashion should be thinking about in the 2020s. This conversation has been edited for length and clarity.
AR and VR are two of your core pillars influencing fashion, but it seems that AR has so far been leading the charge.
If you look at comments by [Apple CEO] Tim Cook and others, they expect that augmented reality will be 10x the opportunity of VR. That's true.
We talk in the book about turning on shopping mode, so as you're walking down the street [wearing AR glasses], rather than seeing what the shop owner puts in the window, your AI knows what you're shopping for, your size and your favourite colours. Imagine looking into a window and seeing what's in the store that you might actually like. Even more interesting is if youre looking at a friends dress or jacket, and if you've got shopping mode on, the price and the designer pops up, and you can buy it right then.
What I find fascinating is being able to determine how the world sees you. Like [having] different ringtones depending on who is calling, imagine having a digital wardrobe so that when this group of friends sees you, you're wearing [one outfit], when strangers see you, youre wearing [something different].
Diamandis's new book, co-written with Steven Kotler, discusses how technological convergence could increase the pace of change in transportation, retail, advertising, education, health, entertainment, food and finance.
So why hasnt fashion been successful with VR? Three years ago, everyone in fashion was really excited about it.
VR has failed from the lack of being a social experience. But that's going to get solved. When you walk into a VR store, an AI fashion attendant will say, What are you looking for? And you can see in front of yourself a fashion show where everyone on the runway is you.
And there's also a digital twin of everything you own, which is fascinating. You can say, What is that going to look like with my shoes, my handbag, my tie? or whatever it might be.
A lot of these technologies are years away from becoming mainstream. Are there any specific technologies that a fashion brand should invest in now?
It's all about data and asking great questions, and I can start to ask AI to analyse it.
There is already a combination of sensors and networks, and we're heading toward a world where it's going to be possible for you to know anything you want, anytime, anywhere. Now, you can look up the GDP of Ghana in about 30 seconds, but if I asked you how many red sports cars have driven down the street in the last half hour? That's unlikely but the information is there.
Were heading toward what I call a trillion sensor economy which means that there will be cameras everywhere. So if I'm a fashion designer, I can ask, What colours are most popular today walking down Madison Avenue? Does it correlate with the temperature or the weather? Does it correlate with any fashion campaigns or Vogue covers?
While some of this technology might already exist, customers might not be ready to adopt it. How can brands navigate that without moving too fast?
The reality is for consumers to adopt; there really needs to be a 10x better price-performance improvement. It can't be a little bit better. It has to be a lot better. Sometimes you have to do that at your own cost to get people to shift over.
Amazon prioritised speed, cost and variety over profitability, but they won the world.But, its important to note, the adoption rate for technologies is accelerating.
Your book references the success of Amazon, but it hasnt yet mastered luxury fashion. Is Amazon well-positioned to offer luxury concessions?
Amazon's brand stands for cheaper, faster, more variety which is the opposite [of luxury]. Amazon is a global fulfilment house and a front-end for search. They'll have to do luxury goods through someone else's brand.
I mentor CEOs about software as a service and AI as a service. Every company today needs to rethink how they're building their organisation. You're not hiring the same old groups of people and building a giant org chart stuffed with people. You're now building an organisation where you have layers of software. Your fulfilment layer may be delivered by Amazon; your customer service layer may be provided by Amazon; your marketing may be provided by Amazon. And you're really at the top of the stack deciding what products you want to provide, shaping your brand.
To receive the Vogue Business Technology Edit, sign up here.
Comments, questions or feedback? Email us at feedback@voguebusiness.com.
AR filters for clothing come to Instagram
Inside the physical store that only offers digital clothes
Gucci partners with Snap on AR-friendly glasses
Read the original post:
A top Silicon Valley futurist on how AI, AR and VR will shape fashion's future - Vogue Business
- Singularity Future Technology Ltd (SGLY) is up 43.55% Tuesday In Premarket Trading - InvestorsObserver - March 18th, 2024 [March 18th, 2024]
- This Week's Awesome Tech Stories From Around the Web (Through March 16) - Singularity Hub - March 18th, 2024 [March 18th, 2024]
- Palia reaches over 3m players in six months thanks to "invaluable" Switch partnership - GamesIndustry.biz - March 18th, 2024 [March 18th, 2024]
- Beyond the Singularity: Exploring the Fusion of AI and Art - Hong Kong Standard - March 18th, 2024 [March 18th, 2024]
- Your Comprehensive Guide to Telos Staking Success | by Pizza Singularity Sapphire | Feb, 2024 - Medium - February 20th, 2024 [February 20th, 2024]
- BTS' Kim Taehyung's 'Singularity' Performance Featured in Harvard Professor's Book - BNN Breaking - February 20th, 2024 [February 20th, 2024]
- Title: Understanding the Singularity: Unveiling the Future of Humanity - Medium - December 12th, 2023 [December 12th, 2023]
- What happens at the center of a black hole? - Astronomy Magazine - December 12th, 2023 [December 12th, 2023]
- IBM Is Planning to Build Its First Fault-Tolerant Quantum Computer by 2029 - Singularity Hub - December 12th, 2023 [December 12th, 2023]
- 22 Laws of Singularity And How You Can Apply Them To Live A Better Life - Medium - December 12th, 2023 [December 12th, 2023]
- Singularity: Here's When Humanity Will Reach It, New Data Shows - March 31st, 2023 [March 31st, 2023]
- sentinelOne expands singularity marketplace with new SOAR, insider threat, training, and prioritization integrations - ZAWYA - March 31st, 2023 [March 31st, 2023]
- Reaching the Singularity May be Humanitys Greatest and Last ... - March 4th, 2023 [March 4th, 2023]
- Singularity: Explain It to Me Like I'm 5-Years-Old - Futurism - March 4th, 2023 [March 4th, 2023]
- SINGULARITY FUTURE TECHNOLOGY LTD. : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Change in... - March 4th, 2023 [March 4th, 2023]
- Apple co-founder Steve Wozniak on Artificial Intelligence: Not worried about The Singularity, well still be in control - MacDailyNews - February 12th, 2023 [February 12th, 2023]
- Cauchy principal value - Wikipedia - January 4th, 2023 [January 4th, 2023]
- Singularity Future Technology Ltd. (SGLY) Stockholder Notice: Robbins LLP Reminds Investors of the Class Action Against Singularity Future Technology... - December 14th, 2022 [December 14th, 2022]
- ROSEN, A LEADING LAW FIRM, Encourages Singularity Future Technology Ltd. f/k/a Sino-Global Shipping America Ltd. Investors to Secure Counsel Before... - December 12th, 2022 [December 12th, 2022]
- Singularity (mathematics) - Wikipedia - November 23rd, 2022 [November 23rd, 2022]
- GitHub: Where the world builds software GitHub - November 21st, 2022 [November 21st, 2022]
- Review: The Singularities, by John Banville - The New York Times - October 25th, 2022 [October 25th, 2022]
- We need to manage AI better as we are approaching the Creative Singularity - RedShark News - October 15th, 2022 [October 15th, 2022]
- This Week's Awesome Tech Stories From Around the Web (Through October 15) - Singularity Hub - October 15th, 2022 [October 15th, 2022]
- Ferguson: A second helping of QB play from Thanksgiving weekend - CFL.ca - October 15th, 2022 [October 15th, 2022]
- Kanimozhi slams Union govt over conducting CGL exams in only Hindi and English - The News Minute - October 15th, 2022 [October 15th, 2022]
- New Bayonetta 3 Trailer Reveals An In-Universe Singularity, And Lots Of Witches - Gameranx - October 13th, 2022 [October 13th, 2022]
- Singularity Future Technology Announces Receipt of Nasdaq Notice of Delisting and Intention to Request Hearing - Yahoo Finance - October 13th, 2022 [October 13th, 2022]
- Six Recent Discoveries That Have Changed How We Think About Human Origins - Singularity Hub - October 13th, 2022 [October 13th, 2022]
- This AI Uses a Scan of Your Retina to Predict Your Risk of Heart Disease - Singularity Hub - October 13th, 2022 [October 13th, 2022]
- The Moon May Have Formed Just Hours After Earth Collided With a Protoplanet - Singularity Hub - October 13th, 2022 [October 13th, 2022]
- UK HealthCare hosting 2 nationally esteemed guests for 60th anniversary symposium - UKNow - October 13th, 2022 [October 13th, 2022]
- Why Transcend Fund believes the opportunity for game investments is only getting bigger - VentureBeat - October 13th, 2022 [October 13th, 2022]
- Austin Powers References in This Fool, Ramy, Bros - Vulture - October 13th, 2022 [October 13th, 2022]
- Bayonetta 3 Everything You Need to Know About this Bewitching Beat em Up - Wccftech - October 8th, 2022 [October 8th, 2022]
- Longtermism: The Future Is VastWhat Does This Mean for Our Own Life? - Singularity Hub - October 8th, 2022 [October 8th, 2022]
- Ohio creates elections integrity office while voter fraud is already 'exceedingly rare' - ideastream - October 8th, 2022 [October 8th, 2022]
- Elon Musk Warns of World War III - TheStreet - October 8th, 2022 [October 8th, 2022]
- Durga reminds us of our collective obligations - Daily Pioneer - October 8th, 2022 [October 8th, 2022]
- Glitch in the algorithm - The Bucknellian - October 8th, 2022 [October 8th, 2022]
- As the Robot Fry Cook Takes Over the Kitchen - Walter Bradley Center for Natural and Artificial Intelligence - October 8th, 2022 [October 8th, 2022]
- The Singularity Image Format (SIF) Selected as a Finalist in the HPCwire Readers' Choice Awards - PR Web - October 6th, 2022 [October 6th, 2022]
- The Singularity Image Format (SIF) Selected as a Finalist in the HPCwire Readers' Choice Awards - Benzinga - October 6th, 2022 [October 6th, 2022]
- The Singularity of the Dual Mandate - Federal Reserve Bank of San Francisco - October 6th, 2022 [October 6th, 2022]
- What Is the Quirk Singularity Doomsday Theory in My Hero Academia? Explained - Twinfinite - October 6th, 2022 [October 6th, 2022]
- Introduction to week 4 of Tekedia Mini-MBA: Exponential Technologies and Singularity - Tekedia - October 6th, 2022 [October 6th, 2022]
- A $500 Million International Project Will Create the Most Detailed Map of the Brain Ever - Singularity Hub - October 6th, 2022 [October 6th, 2022]
- There Are Cheaper, More Sustainable Ways Than Desalination to Meet Our Water Needs - Singularity Hub - October 6th, 2022 [October 6th, 2022]
- #3DStartup: Unlimited Tomorrow and its 3D Printed Bionic Prosthetic Arm - 3Dnatives - October 6th, 2022 [October 6th, 2022]
- First As Parody, Then As Free Speech: The Onion Goes To The Supreme Court. It's About As Awesome As You'd Suspect. - Above the Law - October 6th, 2022 [October 6th, 2022]
- 10 Hot Cyber Threat Intelligence Tools And Services In 2022 - CRN - October 6th, 2022 [October 6th, 2022]
- Nintendo comes out strong with its offering of upcoming titles - The UML Connector - October 6th, 2022 [October 6th, 2022]
- The metaverses evolutionary roots could aid its success | Mint - Mint - October 6th, 2022 [October 6th, 2022]
- The Tech That Will Push VR to the Limits of the Human Eye - Singularity Hub - September 27th, 2022 [September 27th, 2022]
- Super-Earths Are Bigger and More Habitable Than Earth, and Astronomers Are Discovering More of the Billions They Think Are Out There - Singularity Hub - September 27th, 2022 [September 27th, 2022]
- Scientists Have Long Dreamed of a Memory Prosthesis. The First Human Trials Look Promising - Singularity Hub - September 27th, 2022 [September 27th, 2022]
- NASA's DART Spacecraft Will Smack an Asteroid at 14,000 MPH Todayand You Can Watch - Singularity Hub - September 27th, 2022 [September 27th, 2022]
- Why You Should Read This: 'The Gold Coast' - Alta Magazine - September 27th, 2022 [September 27th, 2022]
- The Multitude of Stromae - Mail and Guardian - September 27th, 2022 [September 27th, 2022]
- Warhammer 40,000: Space Marine is Getting a Location-based VR Experience Next Year - Road to VR - September 27th, 2022 [September 27th, 2022]
- What the pandemic taught us about teaching (On the Other Hand) - Montclair Local - September 27th, 2022 [September 27th, 2022]
- Where to get the Boom Sniper in Fortnite Chapter 3 Season 4 - The Nerd Stash - September 27th, 2022 [September 27th, 2022]
- Machine learning has predicted the winners of the Worlds - CyclingTips - September 27th, 2022 [September 27th, 2022]
- Vaonis Vespera Review: Easy To Use But with Underwhelming Results - PetaPixel - September 27th, 2022 [September 27th, 2022]
- The biggest problem with gravity and quantum physics - Big Think - September 27th, 2022 [September 27th, 2022]
- V gets inked on his butt cheek? BTS star spills the details about his friendship tattoo - Zoom TV - September 27th, 2022 [September 27th, 2022]
- Robots & Humans: Are we heading towards Singularity? - INDIAai - September 20th, 2022 [September 20th, 2022]
- This Week's Awesome Tech Stories From Around the Web (Through September 17) - Singularity Hub - September 20th, 2022 [September 20th, 2022]
- A Swedish Company Wants to Transform Offshore Wind With Vertical-Axis Turbines - Singularity Hub - September 20th, 2022 [September 20th, 2022]
- Decarbonizing the Energy Sector by 2050 Could Save the World $12 Trillion - Singularity Hub - September 20th, 2022 [September 20th, 2022]
- This Sleek Solar Car Goes 600 Miles on a Charge and Is Gearing Up for Production - Singularity Hub - September 20th, 2022 [September 20th, 2022]
- Meta Built an AI That Can Guess the Words You're Hearing by Decoding Your Brainwaves - Singularity Hub - September 20th, 2022 [September 20th, 2022]
- Gory Throwback FPS 'Prodeus' Exits Early Access This Thursday, Launching for PC and Consoles [Trailer] - Bloody Disgusting - September 20th, 2022 [September 20th, 2022]
- Meet the New Vespera Telescope From Vaonis - Universe Today - September 20th, 2022 [September 20th, 2022]
- Of God and Machines - The Atlantic - September 20th, 2022 [September 20th, 2022]
- Humans Destroyed Forests for Thousands of Years. We Can Become the First Generation to Expand Them - Singularity Hub - September 20th, 2022 [September 20th, 2022]
- Intel Core i9-13900K beats the 12900K by +10% in CPU-bound games - KitGuru - September 20th, 2022 [September 20th, 2022]
- INVESTIGATION ALERT: The Schall Law Firm Encourages Investors in Singularity Future Technology Ltd. with Losses of $100000 to Contact the Firm -... - August 15th, 2022 [August 15th, 2022]
- How To Open Singularity Rock in Tower of Fantasy - Attack of the Fanboy - August 15th, 2022 [August 15th, 2022]
- Intel i9-13900K Tested in Ashes Of The Singularity, Offers Neglible Increments in Performance - Appuals - August 15th, 2022 [August 15th, 2022]