Artificial intelligence among companies in the fashion industry fell by 36% between the first and second quarter of 2022.
In general, between July 2021 and June 2022, the frequency of penalties related to artificial intelligence in 2022 will increase. It was 4% lower than in 2016 when GlobalData, from which the data for this article was taken, first began tracking key issues mentioned in company filings.
When fashion and accessories companies publish annual and quarterly reports, ESG reports and other filings, GlobalData analyzes the text and identifies individual sentences that relate to the disruptive forces companies will face in the coming years. Artificial Intelligence is one such topic – companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better able to survive unexpected challenges.
Two parameters were calculated to assess whether artificial intelligence is becoming more visible in the summaries and strategies of fashion and accessories companies. First, we looked at the percentage of companies that mentioned artificial intelligence at least once in the last twelve months – this is 50% compared to 35% in 2016. Intelligence.
Among the 10 biggest employers in the fashion industry, Levi Strauss is a company that cites artificial intelligence between July 2021 and June 2022. Globaldata identified 26 sentences related to artificial intelligence in the company’s records based in the United States – 0.3% of all sentences. Hermes mentions the second artificial intelligence – the issue is mentioned in 0.07% of the sentences in the company’s presentation. Other top employers with strong artificial intelligence include Christian Dior, Gildan and Pou Chen.
A file published by all fashion and accessories companies in the second quarter of 2022 that showed a strong focus on artificial intelligence came from Hermes. Five of the document’s 7,023 sentences (0.1%) refer to artificial intelligence.
This analysis gives a rough idea of which companies are focusing on artificial intelligence and how important it is in the fashion industry, but it has limitations and should be interpreted with caution. For example, frequent mention of artificial intelligence is not a guarantee that a company will use new techniques or prioritize the issue, nor does it indicate the success or failure of the company’s move into artificial intelligence.
GlobalData also categorizes artificial intelligence mentions into a series of subthemes. Among these sub-themes, the most mentioned topic in the second quarter of 2022 is ‘context-aware computing’, accounting for 50% of all artificial intelligence sub-themes mentioned by fashion and accessories companies.