Chapter 1
Company Experience
AI Transforming The Cosmetics Industry
Introduction
In a world that is more connected than ever before, it is a little daunting to navigate the how’s and when’s of the cosmetics industry regulations, formulations, logistics, while trying to stay relevant in a very competitive and fast changing industry.
Logistics
Where most see an interwoven mess of formalities, AI is helping to untangle these links. Pioneers in the AI driven supply chain management, the Tools Group helps retailers, distributors, and manufacturers make decisions in real time. For this, they handle an array of services that considerably lighten the load of businesses. Even though they do not cater exclusively to the cosmetics industry, it has been put to good use by cosmetics brands to enhance their planning and make accurate real-time decisions.
While logistics play an enormous role in the cosmetics industry, the relevance of the product is just as important. To get the cogs (Cost of Good?) of the machine turning, errors must be minimal, to integrate the market in a successful way or just to stay relevant and up to date, the product formulation is paramount.
Formulation
That’s where AI finds and tries to efficiently fill the gap. Iva Texeira and Lena Skliarova-Mordvinova have harnessed AI to empower cosmetic product innovators to easily grade their formulations against real-time worldwide requirements for safe and sustainable products. Their AI driven tool, the Good Face Project, part of EvoNexus’ portfolio, aims to safeguard human health and the environment whilst informing all stages of cosmetics creation from ingredient suppliers, formulators, manufacturers, to retailers and brands.
Handling logistics and harnessing AI for trendy compliant formulations leaves way for accelerated growth. AI tools have been developed to cover companies every step of the way.
Manufacturing & Packaging
The latest innovations in manufacturing using AI are impressive regarding the exponential growth on production that these might entail. For this, robotics and AI are evolving in synchronicity to accelerate the market’s growth. To give just one example of this for manufacturing cosmetic products, AmorePacific’s robotic solution to manufacture 2 different categories of make-up products by one machine in record time is certainly catching the eye of the industry. As for packaging, Codian Robotics AI driven robots can manage adaptive packaging as well as B&R’s robotics solution for manufacturing processes adaptively. This way, the industry is not only able to meet demand, but it does so in a less wasteful manner, faster, and integrating bespoke solutions for each company.
Scalability
As for growth, services enhanced by AI help inform scalability in real-time in a responsible way. Such are the services proposed by Dataiku. Informed by all the data gathered by a company and complying with all the regulations to date about data privacy and security, governance is at the center of the use of AI for data treatment. By streamlining raw data flows from all channels, AI sifts through it and informs the teams with actionable data. This actionable data allows for controlled growth and scalability with real-time market information, which in turn, turns into more raw data, thus creating a cycle of data flow that helps structure solid business decisions and informed teams.
