How artificial intelligence could jump-start the luxury sector – with China’s help
Daniel Langer in South China Morning Post. Photo: @maisonvalentino/Instagram
By Daniel Langer, CEO of Équité
Last year in April, I had the privilege of leading a panel on artificial intelligence in luxury at the Sotheby’s x Jing Daily Future of Luxury Conference in Hong Kong. Around 100 luxury brand leaders across Asia came together to discuss digital disruption in the luxury industry. One of the questions raised was whether I thought technology – and, in particular, artificial intelligence – would replace creativity. In other words, will fashion designers and luxury brands become less creative as advanced technologies emerge?
My verdict
Brands cannot stand still. Especially in times of rapid change, people are re-evaluating which brands they prefer. They will turn away from labels which they perceive as passive. Proactive companies that know how to connect with consumers in real-time will win. Technology is an enabler for brands to innovate and excite their customers. It does not replace creativity. It instead gives designers and brands precise guidance on where to focus and unleashes their imagination. Which brand will make most of this dawn of a new time? Which brand will excite us most with their creativity?
Daniel Langer is the CEO of the leading luxury, lifestyle and consumer brand strategy firm Équité (equitebrands.com), and the professor of luxury strategy and extreme value creation at Pepperdine University in Malibu, California. He consults some of the most iconic luxury brands in the world, is the author of several luxury management books, a frequent media commentator, a global keynote speaker, and holds luxury masterclasses in Europe, the USA, and Asia. Follow @drlanger on Twitter