Connect with us
European Gaming Congress 2024

Artificial Intelligence

AI In Beauty And Cosmetics Global Market Report 2023

Published

on

New York, Aug. 01, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “AI In Beauty And Cosmetics Global Market Report 2023” – https://www.reportlinker.com/p06480008/?utm_source=GNW

The global AI in beauty and cosmetics market is expected to grow from $2.68 billion in 2022 to $3.27 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The AI in beauty and cosmetics market is expected to reach $6.8 billion in 2027 at a CAGR of 14.4%.

The Artificial intelligence in the beauty and cosmetics market includes revenues earned by entities through personalized product suggestions, skin analysis chatbots, smart mirrors, and virtual assistants.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.Artificial intelligence in the beauty and cosmetics market also includes sales of smart skincare devices, smart mirrors, smart makeup tools, smart hair tools, and custom fragrance creation.

Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Advertisement
Stake.com

Artificial intelligence in beauty and cosmetics refers to the utilization of advanced artificial intelligence and machine learning techniques to analyze and comprehend different elements of beauty and cosmetics to provide the best beauty matching. It allows facial visualization, skin assessment, and more personalized suggestions when it involves to skincare and possible treatments

North America was the largest region in the AI in beauty and cosmetics market in 2022. The regions covered in AI in beauty and cosmetics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of AI in beauty and cosmetics market are personalized recommendation tools, performance marketing measurement platforms, demand forecasting and supply chain tools, real-time customer service platforms, and AI-based beauty devices.Personalized recommendation tools are software systems or algorithms that analyze user data and make personalized suggestions or recommendations based on the user’s choices, passions, and behavior.

They are distributed through various channels including specialist retail stores, supermarkets, hypermarkets, convenience stores, pharmacies, drug stores, online retail, and others, that are utilized for skincare, haircare, make-up, fragrances, and others.

The growing demand for personalized beauty and cosmetic products is expected to propel the growth of AI in the beauty and cosmetics market going forward.Personalized beauty and cosmetic products are customized to each customer’s unique needs and tastes, including ingredients, textures, perfumes, and packaging.

Advertisement
Stake.com

AI is significant in generating personalized beauty and cosmetic experiences by utilizing data analysis, picture recognition, formulation optimization, and virtual try-on technologies. For instance, in April 2023, according to statistics sourced from Euromonitor International 2023 published on the official website of the International Trade Administration, U.S. Department of Commerce, beauty and personal care sales in China hit $88 billion in 2021, a 10% increase over the previous year. Therefore, the growing demand for personalized beauty and cosmetic products is driving the growth of AI in the beauty and cosmetics market.

Technological advancements are a key trend gaining popularity in the AI in beauty and cosmetics market.Companies operating in AI in the beauty and cosmetics market are adopting new technologies to sustain their position in the market.

For instance, in January 2023, The Estée Lauder Companies, Inc., a US-based makeup, skincare, fragrance, and hair care product manufacturer and marketer, launched a Voice-Enabled Makeup Assistant (VMA) application. VMA uses voice teaching technology to aid users in applying makeup. The users receive audio feedback and tips when applying lipstick, eyeshadow, or foundation evenly. ELC VMA detects makeup on a user’s face and uses artificial intelligence to estimate uniformity, application threshold, and coverage. VMA identifies all areas of the face that require a more precise application and sends a strong message where touch is needed.

In April 2021, Givaudan, Switzerland-based flavorings, perfumes, and active cosmetic component manufacturer, acquired Myrissi for an undisclosed sum.This acquisition broadens, diversifies, and enriches AbbVie’s portfolio by assisting its customers in evoking the smell of their goods in the most creative way possible, thereby assisting consumers in selecting the product that best fits their tastes.

Myrissi is a France-based company that has created an intelligent sensory translator specialized in producing aromatic products that operate in AI in the beauty and cosmetics market.

Advertisement
Stake.com

The countries covered in the AI in beauty and cosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The AI in beauty and cosmetics market research report is one of a series of new reports that provides AI in beauty and cosmetics market statistics, including the AI in beauty and cosmetics industry global market size, regional shares, competitors with an AI in beauty and cosmetics market share, detailed AI in beauty and cosmetics market segments, market trends, and opportunities, and any further data you may need to thrive in the AI in beauty and cosmetics industry. This AI in beauty and cosmetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06480008/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

Advertisement
Stake.com

__________________________


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Northern Data Group is first in Europe to acquire NVIDIA H200 GPUs

Published

on

northern-data-group-is-first-in-europe-to-acquire-nvidia-h200-gpus

First in Europe to acquire NVIDIA H200 GPUs – currently the most powerful GPUs on the market The deployment further expands the Group’s Generative AI CSP offering, already the largest in Europe Further demonstration of the Group’s continued commitment to providing best-in-class technologies FRANKFURT, Germany, July 1, 2024 /PRNewswire/ — Northern Data Group (Ticker symbol German stock market: NB2, ISIN: DE000A0SMU87), a leading provider of High-Performance Computing (HPC) solutions, today announces it has purchased NVIDIA H200 GPUs through a newly established partnership with Supermicro, a global leader in Application-Optimized Total IT Solutions.

Northern Data Group’s cloud platform, Taiga Cloud will be the first Cloud Service Provider (CSP) in Europe to offer access to the H200 GPU hardware, with delivery and deployment scheduled for Q4 2024. The partnership with Supermicro for the NVIDIA H200 GPUs will further build its HPC solutions and complement its existing offering of best-in-class GenAI technologies.
This purchase of the H200 GPUs demonstrates Northern Data Group’s commitment to offering the best-in-class technology to its customers, as it continues to expand its cloud solutions offering, while also maintaining its position as Europe’s first and largest dedicated Generative AI Cloud Service Provider.
The first full island of over 2,000 NVIDIA H200 GPUs utilizing BlueField-3 data processing units (DPUs) and NVIDIA Mellanox CX7 NICs, to deliver 32 petaFLOPS of performance. The configuration of NVIDIA-referenced architecture allows customers to access more bandwidth, faster, and more efficient data storage access. The H200 GPUs will be housed in one of Northern Data Group’s European data centers, powered by carbon-free, renewable energy and boast a Power Usage Effectiveness ratio of less than 1.2.
Aroosh Thillainathan, Founder and CEO, Northern Data Group, commented:
“Our GenAI platform is constantly evolving and we are proud to collaborate with Supermicro to be the first in Europe to offer access to NVIDIA H200 GPUs. This is testament to our commitment to continually offer industry-leading, next-generation solutions. 
“As an Elite Partner of NVIDIA, we are proud to continue to offer cutting-edge technology, deployed in line with recommended architecture references to maximize the technology.” 
Vik Malyala, President & Managing Director, EMEA; SVP, Technology & AI, Supermicro commented:
“We are excited to collaborate with Northern Data Group to expand its GenAI Cloud offering to include Supermicro GPU servers based on latest Nvidia H200 HGX GPUs.  Supermicro is fully committed to delivering most performant and energy efficient AI infrastructure and solutions, and this collaboration will accelerate availability and bring the best value for customers in Europe.”
About Northern Data Group: 
Northern Data Group (ETR: NB2) is a leading provider of High-Performance Computing (HPC) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy. 
About Taiga Cloud:
Taiga Cloud, a Northern Data Group platform, is Europe’s first and largest Generative AI Cloud Service Provider. We provide a flexible, secure and compliant cloud-based ultra-fast GPU Network, engineered to meet organizations’ most ambitious compute needs. Taiga Cloud recognizes that high-intensity, large-scale processing power is crucial for accelerating Generative AI models and research which will deliver a new era of technological breakthroughs. Taiga’s energy-efficient Cloud is powered by Europe’s largest cluster of NVIDIA A100 Tensor Core and H100 Tensor Core GPUs, helping enable organizations to accelerate AI and ML innovation on demand, with technology that is fully scalable.

View original content:https://www.prnewswire.co.uk/news-releases/northern-data-group-is-first-in-europe-to-acquire-nvidia-h200-gpus-302185926.html

Continue Reading

Artificial Intelligence

Dawn Health and Merck are collaborating to support Growth Disorders care

Published

on

dawn-health-and-merck-are-collaborating-to-support-growth-disorders-care

COPENHAGEN, Denmark, July 1, 2024 /PRNewswire/ — Dawn Health, the digital health company pioneering patient-first innovation, has announced they are working with leading global pharmaceutical company, Merck, on a digital solution for Growth Hormone Disorders (GHD).

Over the next two years, they will join forces to deliver a cutting-edge, user-centric digital platform, designed to help improve the lives of tens of thousands of patients across more than 40 countries.
By harnessing the latest AI technologies, the collaboration will also involve exploring the integration of features such as growth predictions and advanced personalization into the digital product, with excitement about AI and its potential for impact on user experience, adoption, adherence, and treatment outcomes. The digital solution will provide support to children and young adults living with GHD, as well as providing tools and support to their caregivers, both at home and in a clinical setting. 
With a shared commitment to improving patient lives, the collaboration will focus on patient-centricity to deliver an intuitive, engaging product that supports users and caregivers throughout their treatment journey. This means speaking with patients to truly understand their unmet needs and how the solution can best address these, as well as hearing from caregivers and healthcare professionals about how to best empower and support those living with GHD.
The collaboration is already off to a strong start, with workshops and inspiring discussions happening between the teams at Dawn Health and Merck, as they work together to deliver a cutting-edge platform on a global scale to improve the lives of people living with Growth Hormone Disorders.
About Merck
Merck, a leading science and technology company, operates across life science, healthcare and electronics. Around 63,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From providing products and services that accelerate drug development and manufacturing as well as discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2023, Merck generated sales of € 21 billion in 65 countries. Scientific exploration and responsible entrepreneurship have been key to Merck’s technological and scientific advances. This is how Merck has thrived since its founding in 1668. The founding family remains the majority owner of the publicly listed company. Merck holds the global rights to the Merck name and brand. The only exceptions are the United States and Canada, where the business sectors of Merck operate as MilliporeSigma in life science, EMD Serono in healthcare, and EMD Electronics in electronics.
All Merck press releases are distributed by e-mail at the same time they become available on the Merck website. Please go to www.merckgroup.com/subscribe to register online, change your selection or discontinue this service.
About Dawn Health
Dawn Health is a global leader in digital health, specializing in the development of software as a medical device (SaMD) and digital therapeutics (DTx). Partnering with pharmaceutical companies, Dawn Health accelerates the launch of digital solutions to change the lives of people with chronic conditions.
Media Contacts
For questions about [email protected] 
For questions about Dawn HealthChristopher Kold, [email protected]
 

View original content:https://www.prnewswire.co.uk/news-releases/dawn-health-and-merck-are-collaborating-to-support-growth-disorders-care-302184356.html

Continue Reading

Artificial Intelligence

Transforming Healthcare with AI: Yidu Tech’s Gong Rujing at Summer Davos

Published

on

transforming-healthcare-with-ai:-yidu-tech’s-gong-rujing-at-summer-davos

DALIAN, China, July 1, 2024 /PRNewswire/ — “AI in healthcare is extremely challenging. For companies, it requires not only solving scientific problems but also understanding AI technology and respecting the complexity of the healthcare industry.” At the 15th Annual Meeting of the New Champions, also known as Summer Davos, Ms. Gong Rujing (Yingying), Chairwoman and Founder of Yidu Tech, was invited as a distinguished representative of the healthcare technology sector. She shared her unique insights into the future of AI in healthcare during the thematic dialogue on “Healthcare Analytics, Not Moving Fast Enough.”

This year marks the 10th anniversary of Yidu Tech and Ms. Gong Rujing’s decade-long dedication to the healthcare industry. From the inception of her entrepreneurial journey 10 years ago, she has been driven by the mission to leverage the power of technology to deliver precise healthcare to every individual.
Ms. Gong described the past decade as a journey filled with miracles and achievements. During this period, Yidu Tech has progressively established close collaborations with key stakeholders in the healthcare industry, including government agencies, hospitals, pharmaceutical companies, insurance firms, experts, and clinicians. As of March 31, 2024, Yidu Tech’s “AI Medical Brain” YiduCore has been authorized to process and analyze over 5 billion medical records, covering more than 2,500 hospitals.
In AI-powered clinical research, Yidu Tech has supported researchers and clinicians in producing over 240 high-level papers, accelerating the application of research outcomes. Additionally, Yidu Tech provides clinical trial services to globally renowned pharmaceutical companies, helping them optimize trial processes, reduce costs, and bring new drugs to market more swiftly, ultimately benefiting patients. In healthcare management, Yidu Tech’s AI technology plays a crucial role by analyzing vast amounts of medical data to provide comprehensive decision support to healthcare administrators, helping them optimize resource allocation and improve service efficiency.
“We are now entering a new era of AI technology.” The development of large language model technologies has opened up new possibilities across various industries. Yidu Tech has independently developed a large language model specific to the medical field and is advancing its application across the entire healthcare industry chain. The goal is to promote further progress and innovation through new AI technologies. However, Ms. Gong also emphasized that the healthcare industry is professional, complex, and sensitive, and the application of new technologies must address challenges such as data security, privacy protection, and ethics.
“Data security and privacy protection are fundamental to the development of AI technology and medical big data technology. We must ensure that all stakeholders are satisfied with compliance, security, accessibility, and privacy protection.”
“AI technology still has a long way to go.” She called on policymakers, healthcare institutions, and technology companies to work together to realize the immense potential of healthcare data. Ms. Gong highlighted that building trust is key, and enhancing data operability is essential to fully unleash the power of data. “It’s not just about better data quality; it’s about a better future for health.”

View original content:https://www.prnewswire.co.uk/news-releases/transforming-healthcare-with-ai-yidu-techs-gong-rujing-at-summer-davos-302186561.html

Continue Reading

Trending