What Lies Ahead for Technology-Driven Beauty?

Interestingly, the global beauty-tech market, presently valued at an impressive $8.46 billion US dollars, is anticipated to maintain steady growth, projecting an annual rate of 5.27% by 2028, according to Statista. The entwining of the beauty and technology industries, both formidable in their own right, was an inevitable progression.

What’s more, the evolution of web3, blockchain, and decentralization is poised to empower marginalized beauty content creators, promising enhanced earning potential. Yet, the key question remains: Can AI-powered technology make its mark on an industry renowned for meticulous attention to detail? The benefits are already evident, exemplified by Skin+Me's personalised skincare and DCypher's custom cosmetics, utilising cutting-edge AI technologies for quick and glowing results. The innovative approach of New York's Il Makiage, despite generating mixed reviews, leverages a quiz developed over a year to deliver the perfect foundation shade based on data from 700 skin-tone combinations. Furthermore, the recent Consumer Electronics Show in Nevada showcased a shift towards interactive experiences on the domestic front, including virtual domains and home-friendly nail art robot gadgets, aiming to reduce salon visits which could potentially be a good value for money. Notably, research from Qingdao University of Science and Technology in China explores AI's potential to discover a compound named MnPS3 that may address hair loss.

In the realm of clinical beauty, opinions may vary, with dermatological experts suggesting a blend of tech and human guidance. Dr Nowel Solish, a dermatologist at Indeed Labs, asserts that AI can effectively track changes in skin over time, aiding in the early detection of skin conditions.

The emerging themes that springs to mind are that of a future defined by convenience, reduced waste, and more immersive experiences. Aligned with contemporary concerns about sustainability and the cost of living crisis, these anticipated trends are poised to seamlessly integrate into our day-to-day lives.

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