Charles Besson, Global Social Insights & AI Director at L’Oréal, and Fabrice Henry, Managing Partner at Artefact, discuss how L’Oréal Trend Detection, deployed with Artefact’s AI trend detection solution, is predicting what cosmetics products consumers are going to want tomorrow.
Challenge for L’Oréal: predicting new trends before the competition
L’Oréal is the world’s leading beauty company, present in 150 countries, offering a rich portfolio of iconic brands for every type of consumer. The company’s socially responsible programme, Sharing Beauty With Al, is dedicated to shaping the future of beauty through major, sustainable product innovations.
says Charles Besson, Global Social Insights & AI Director at L’Oréal.
L’Oréal has great tools for product innovation: a Prospective Consumer Intelligence department, a Digital department, an IT department. Their latest programme, the L’Oréal Beauty Tech accelerator, enables the company to select the most promising innovative products for incubation and acceleration. But how to make L’Oréal the world’s number one beauty tech company? Charles wondered:
After consulting with several other companies, he chose Artefact to build his dream machine.
L’Oréal Solution: a co-creation that can forecast emerging consumer trends
L’Oréal’s ambitious project needed to go a step further with AI technology, in comparison with traditional market research models. That’s where Artefact leveraged its advanced expertise in digital marketing and data science to help L’Oréal detect and predict new trends emerging in the digital space. Because discovering what consumers want – almost before they know they want it – is the Holy Grail every marketer seeks.
Developing an innovative and reliable trend prediction solution was both exciting and challenging for the project team. As soon as they started brainstorming, they realised that tracking influencers wasn’t the answer.
explains Fabrice Henry, Managing Partner at Artefact.
因此,我们深入调查,并向上游提问,以找出趋势的起源和传播方式。一旦一个趋势诞生,它是如何传播的?它的传播方式是否因地域或社区而异?有哪些大的来源--YouTube、博客、Instagram、Facebook,等等。- 有哪些大的来源--YouTube、博客、Instagram、Facebook等,可以从中提取数据,以训练算法?
The project co-created by L’Oréal and Artefact was based on three key success factors: co-development of an employee-centric solution, validation of the solution via an MVP (Minimum Viable Product) prior to scaling, and strong collaboration based on trust – a vital element when sharing sensitive information with your partners.
Results of the L’Oréal Trend Detection’s project
This project is a predictive intelligence machine with three main components: