Technology has always been integral to improving our quality of life – from smart appliances to innovative beauty tech, technology has enhanced our lives for decades. Now, we’re going further: the ‘Beyond Human’ trend demonstrates that people are becoming more accepting of artificial intelligence. Although complete trust and universal access to AI is a work in process, people are embracing AI to enhance our convenience and comfort. Looking to the future, Generation Alpha will not draw such clear distinctions between the digital and the physical world.
Considering the growing acceptance that AI improves our quality of life, the Beyond Human trend is beginning to run parallel with consumers’ social concerns. Certainly, technology is advancing, but so is our concern about the environment, our communities, and creating a more inclusive society. In every space, consumers want to see products that are personalized, that recognize them as individuals – and beauty is no exception. But how is AI enhancing personalization in the beauty space? And why are AI-driven beauty tech cosmetics gaining so much traction now?
Beauty tech re-defined
In many senses, beauty tech companies have been around for decades. For instance, cosmetics giants have been integrating big data into their R&D strategy for a while now. By incorporating intelligent algorithms into their databases, they can analyze purchase patterns and consumer behavior to create safe, efficient, and effective products that are – most importantly – in demand.
However, it’s only now that the field is really taking off. According to predictions, the market will surpass $34 billion by 2024. Our lives are increasingly becoming tech-dependent and skin care is no exception. Primarily driven by AI and beauty tech concepts, there are now a number of apps and devices that can assess, monitor, and evaluate people’s skin. With this data, such devices can generate unique recommendations and treatments – which is the key intersection between beauty tech products and personalization.
AI and hyper-personalization: the keys of beauty tech
Across industries, a hallmark of quality is ‘personalized service’. This is because consumers want to be seen, cared for, and recognized as the individuals they are, in spite of fast-paced and rapidly expanding modern markets. According to Forrester, 77% of consumers have chosen or paid more for a brand that provides a personalized customer experience.
Naturally, artificial intelligence is essential to facilitating such acute awareness of consumers’ needs. To deliver these hyper-personalized experiences, the cosmetics and personal care industry are continuing to turn to technology. With AI and big data, beauty tech brands are able to laser-target specific demographic categories.
For instance, inclusivity is a hot topic in beauty. This is particularly important to emerging consumer demographics like Generations Z and Alpha, who want ethical, inclusive, gender-neutral products. Big beauty brands have responded rapidly, recruiting male ambassadors and launching gender-neutral cosmetics lines.
Laser-target consumer preferences with beauty tech products
However, nuance is critical. To illustrate, Latinx consumers have become an increasingly powerful demographic for the beauty industry. Now, 45% of US-born Latinx females are under 18, presenting a huge opportunity for cosmetics and personal care brands. That said, to see this group as homogenous would be a mistake; without catering to the complex dynamics of culture and heritage, brands risk alienating this key demographic. This is where beauty tech companies, with their focus on AI and hyper-personalization, become vital: Latinx consumers are a diverse group and brands need technology to zoom in on an individual’s specific requirements.
This is why Provital harnessed AI technology to develop Wonderage™. Currently, women over 60 feel excluded from many beauty campaigns: an incredible 70% want to see more beauty content targeted specifically at their age group (AARP, 2019). The mature beauty market is extremely lucrative, but also fragile; not only do older women feel they can’t access personalized products, they demand treatments that are effective.
To address this challenge, Provital used powerful natural ingredients to support efficacy and feelings of well-being. We then monitored the effectiveness of the formula on volunteers using AI-technology that quantified their emotional response to the product’s effects.
Be intelligent, be inclusive
Powerful emerging markets like Generation Alpha are holding the beauty industry to account. They want to see products that are inclusive and fully personalized. Equally, lucrative segments like mature consumers want greater acknowledgment from the industry. In dynamic and rapidly expanding markets, technology is key and ‘big beauty’ is investing more than ever in artificial technology. Beauty tech is the foundation of personalization – which is why Provital put innovation at the forefront of our strategy.