Technology Trends: What Is Generative AI?
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Technology Trends: What Is Generative AI?

Jun 8, 2023 · 3 minutes read
Technology Trends: What Is Generative AI?

As the world’s digital transformation continues, new technologies are emerging and shaping how consumers shop and live. AI technology is one of the biggest 2023 digital trends influencing the retail landscape, with AI tools powering personalized marketing and product recommendations for brands. And with the rise of AI tools like Chat GPT,  or AI-generated content — has quickly become a widespread trend

So what is Generative AI? and how can companies leverage these new AI tools to their advantage? Read on to learn more about Generative AI and how this powerful technology is shifting the retail landscape.

What's generative AI?

AI-Generated Content

AI-Generated Content refers to content generated by artificial intelligence; it is also commonly referred to as automatically generated content. Recent innovations, such as the chatbot Chat GPT, use AI and machine learning to produce thorough responses quickly. 

AI generates content based on user-inputted keywords or parameters to supplement or replace manual content generation. Generative AI's capabilities are greatly enhanced by the creation of large model algorithms, making Generative AI products a viable generating tool that can add great convenience to our lives. 

Some examples of AI-generated content include:

Text Content

AI tools like Chat GPT can now generate text in seconds, which can be utilized for product descriptions, headlines, captions, articles, emails, essays, and more. Users simply input questions and/or data into a chat box and receive a tailored written response. Additionally, AI content detectors can assist in verifying your AI-generated content, correcting spellings, and summarizing text.

Generative AI and Chat GPT

Image Generation

Generative AI can generate realistic or stylized images based on user input or description. For example, DALL-E-2 is an AI tool that lets users create images based on a text description. 

Generative AI and Image Generation

Perfect Corp.’s AI Magic Avatar feature allows users to create AI-generated avatars from photos in seconds. AI-powered social media filters are another example of creating automatic image content with AI.

Perfect Corp.’s AI Magic Avatar feature

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Audio/Video Generation

AI tools can now generate audio or video content based on user input and descriptions. For example, Descript can generate realistic voiceovers based on text input. Jukebox is an AI system that can create music and voice lyrics in varying genres and styles. InVideo lets users turn a script into an AI-generated video.

AIGC: Juke Box's Audio/Video generation

Computer Code

AI tools can even generate computer code, allowing users to create code-based content easily. For example, Chat GPT can generate code for a simple video game with a short prompt or design a branded website theme with code that companies can copy and paste.

New AI technology has great potential to revolutionize digital content, free human creators from time-consuming tasks, and help businesses cut costs and expand. Companies are trying to quickly learn how to utilize AI tools to their advantage, including using a variety of Generative AI in their product, retail, and marketing strategies. 

How Generative AI Can Change the Consumer Experience

As businesses explore using Generative AI in the form of text, code, audio, images, and more, the retail landscape is shifting for the better in 2023. And Generative AI has the potential to enhance the consumer experience in various ways.

One fundamental way Generative AI is changing the consumer experience is by providing customers with quick answers to their questions. For example, customers can use an AI-powered chatbot to ask questions and solve problems 24/7. Customers can also use this AI-powered chat to receive tailored product recommendations in seconds, helping businesses boost sales.

Generative AI can also help retailers create personalized and engaging content for their customers. This includes AI-generated product descriptions, images, and website themes tailored to customers’ preferences. E-commerce retailers can also use AI tools to offer personalized song choices to accompany their customers’ moods. AI technology even allows customers to virtually try on makeup, hairstyles, and more to gauge what a product will look like in real life.

AI technology allows customers to virtually try on makeup, hairstyles, clothing, and more.

Overall, Generative AI is making the consumer experience more personalized, efficient, and helpful. By using Generative AI, retailers can improve customer satisfaction, loyalty, and conversion rates, all while saving time and overhead expenses.

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How Perfect Corp Leverages Generative AI

Perfect Corp., a leading AI beauty and fashion technology provider, is leveraging Generative AI to provide innovative and engaging user experiences. Perfect Corp.’s new AI Magic Avatar feature is powered by advanced Generative AI technology that produces fun, lifelike digital avatars for app users to enjoy and creatively express their unique personalities.

Perfect Corp.’s new AI Magic Avatar feature

The AI Magic Avatar feature lets users create hundreds of personalized digital avatars based on their selfies or photos of their favorite celebrities. Users can then customize their avatars with different hairstyles, outfits, accessories, backgrounds, and more to look like their best selves or their otherworldly creatures of choice. The AI Magic Avatar feature is available in the YouCam Perfect app, a leading photo editing and selfie camera app with over 800 million downloads worldwide.

The YouCam Perfect app and other YouCam apps easily integrate with online retail platforms to deliver tailored shopping experiences for customers. Shoppers can try on clothes, test makeup shades, get tailored recommendations, and change their avatars with Perfect Corp.’s revolutionary AI tools.

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Companies and Generative AI

Generative AI is a fast-moving trend transforming digital content as we know it. Users can easily create AI-generated text, images, audio, and more to meet a variety of needs. Companies can — and should — utilize this revolutionary technology to enhance customer experiences, reduce costs, increase revenue, and become or remain industry leaders. 

As Generative AI becomes the new norm, retail brands must keep up to stay ahead of the competition. This includes implementing Generative AI into their sales, marketing, and customer relations strategies. Perfect Corp. allows retail companies to do just that using its catalog of retail-centric AI tools. Perfect Corp. offers a variety of plans to suit any e-commerce business's needs.

Get expert advice from Perfect Corp. and be part of the beauty tech trend. Contact us for details on beauty tech solutions trusted by 600+ brands globally.

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