Artificial Intelligence: LVMH Ties With Google Cloud For AI-Powered Experiences At Maisons Luxury Brands

The objectives are demand forecasting, inventory optimization, and personalizing customer experiences.

LVMH (EPA: MC) announced today its tie-up with Google (NASDAQ: GOOGL) Cloud for the development of cloud-based AI solutions. LVMH and Google Cloud will work together and deploy the latter’s cloud technology and AI/ML tools for every part of the value chain at LVMH – from product development to supply chain, to the interfaces with employees, partners, and customers. (CISION PRNewswire).

The solutions will be deployed to assist Maisons’ employees to improve business operations, elevate customer experiences, all the while protecting LVMH’s privacy and security. Google will also create AI upskilling programs for the luxury group’s teams and establish a Data and AI Academy in Paris to enhance their expertise and innovation in this technology. It will also help modernize LVMH’s IT infrastructure.

High ambitions in AI

“This new, unprecedented and significant partnership with Google Cloud is the reflection of our high ambitions in this area. By combining our best-in-class approaches in our respective industries, it will take us a step forward in the use of data and AI. For us, privacy, personalization, and luxury are synonymous, and that will always remain true. The new opportunities offered to our customers are exactly what our talented teams are working for at LVMH: a unique and unforgettable experience,” said Toni Belloni, Group Managing Director, LVMH.

Franck Le Moal, IT director for the luxury retailer, revealed to WWD that the pandemic forced the luxury industry to shift to an omnichannel format virtually overnight. Meanwhile, LVMH brands Sephora, Louis Vuitton, and Dior had already taken the lead in the group by deploying ML for various applications.

“We thought that if we are able to do such things with these three labels, we must be capable of doing something through a significant investment at the group level, with the technological means, talent, a center of expertise, global data computing, we can offer these services and accelerators in the other houses,” the executive said to WWD.

Related Story:  IBM Study Finds The Pandemic Accelerated AI’s Rollout

Image Credit: LVMH                                                   

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
FinTech: Lloyds To Acquire Stake In Loyalty App Bink
January 4, 2022     FinTech, News

Lloyds Banking Group (LON: LLOY), Britain’s biggest mortgage provider, will acquire a minority stake in loyalty app Bink, according to a report by Sky News for an undisclosed amount that…
Digital Assets: Coinbase CEO Armstrong Said To Have Splurged $133M On Home In LA
January 4, 2022     Digital Assets, News, Real Estate

An iconic property in Bel Air, Los Angeles, designed by internationally acclaimed English architect John Pawson changed hands last month for $133 million and the buyer was Coinbase (NASDAQ: COIN)…
Alternative Investments/ESG: VegTech Invest Launches Plant-Based Innovation & Climate ETF

VegTech Invest advisory has launched the VegTech Plant-based Innovation & Climate ETF (Ticker: EATV), its first financial product. The ETF offers exposure to publicly traded companies actively innovating with plants…超·世界.png
Venture Capital: Chinese AI Startup Parametrix Raises $100M, Turns Unicorn
January 4, 2022     Artificial Intelligence, News, Venture Capital

Chinese AI company has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation…