With the advent of artificial intelligence and augmented reality, the essential non technological companies are also being transformed into tech companies as they embrace these innovations to enhance customer experiences.
One such example is of the beauty company L’Oreal Group who have adjusted themselves to the modern industry landscape and have established a dedicated technology incubator in 2012. The incubator, which has labs in the U.S., France and Japan, is situated within L’Oréal’s larger research and innovation division and has been tasked with developing new tech-enabled consumer products.
The first product launched by the incubator is MakeupGenius,that was launched in 2014. It is an app that lets users virtually try on makeup with AR. More recently, they have also launched UV Sense, the first battery-free electronic wearable to measure individual UV exposure.
Guive Balooch L’Oréal global VP and Head of the tech incubator speaking to Glossy said that their driving mission is to figure out how technology can be used to tap into emerging customer and industry trends, like product customization.
According to him, the future of technology in the beauty industry is bright, as augmented reality will allow everyone to try on products digitally and in physical locations before they buy them and in a seamless way. And then there’s the performance of products, where they will be superior because people will understand their needs more, because of technology.
Furthermore, according to Balooch data will also play a more important role in the beauty industry in the near future as they continue to design and create communities around their relationships between real-time information of consumer feedback and trends.
