4.6 DDMTOWN Initiative for Artificial Intelligence (AI)

Against the backdrop of recent technological development of AI and the increasingly complex landscape of diverse AI Industries, we at DDMTOWN management have a strong belief that Generative AI has the potential to affect the entire fashion ecosystem, thus far, DDM’s B2B and B2C players in South Korea.

We all know that Generative AI (GenAI) is a type of Artificial Intelligence that can create a wide variety of data, such as images, videos, audio, text, and 3D models, via using intelligent algorithms that generate new outputs based on the data they have been trained on.

Recently, everyone would have heard of OpenAI’s ChatGPT, the AI chatbot that became an overnight sensation and sparked a digital race to build and release competitors. ChatGPT is only one consumer-friendly example of generative AI, a technology comprising algorithms that can be used to create new content, including audio, code, images, text, simulations, and videos.

Generative AI has the potential to affect the entire fashion ecosystem. Fashion companies can use the technology to help create better-selling designs, reduce marketing costs, hyper-personalize customer communications, and speed up processes. It may also reshape the supply chain and logistics, store operations, and organization and support functions.

Thus far, DDMTOWN will take a two-prong approach to generative AI, firstly partnering with the right tech companies both locally and globally, and secondly upskilling our current staff and related workforce.

While the potential use cases for generative AI are coming to light quickly, the future of this technology in the apparel and luxury industries is still being stitched together. But experimenting with new tools today means opening infinite possibilities tomorrow.

DDMTOWN has been very active in researching the current AI players and these are:

■ StyleSage is an AI technology company that provides fashion trend analysis and market insights to retailers, brands, and manufacturers. The company uses AI and machine learning algorithms to analyze fashion trends, consumer preferences, and product performance to help businesses make informed decisions, and its competitors such as Edited, Stylitics, Upstream, CommecelQ.

■ True Fit is an AI technology company that provides personalized fit and style recommendations to customers. The company uses machine learning algorithms to analyze customers' shopping behavior, product preferences, and body measurements to suggest the best-fitting items for them.

■ Furthermore, we are looking at start-up space, such as Bodify, an Overland Park, Kansas-based startup dedicated to helping solve the fit issue. Fit for Everybody, a startup based in Princeton, New Jersey, provides shoppers with a video that shows them exactly where to measure themselves. Styleriser, is a B2B German company that makes software that employs AI in image consulting. Customers upload a picture to the retailer’s online store and a virtual stylist analyzes the photo. It recommends the best colors for the person’s skin tones and gets specific (wear cream instead of white, or charcoal grey instead of black).

While still nascent, generative AI has the potential to help fashion businesses become more productive, get to market faster, and serve customers better. Thus far, the DDMTOWN team will put in the “best effort” to explore the new technology and deploy it.

DDMTOWN is a new platform that prioritizes 4 major values of Metaverse, NFT, both Live and E-Commerce, and the social consideration of DDM's landmark commercial value, therefore we will ensure that Generative AI technology and related services are fully exploited and deployed in the future.