Nick Kramer shares his perspective with Business of Fashion on “The Fashion AI Startups to Watch,” an article highlighting 17 AI-powered startups that have collectively raised over $400 million in the last five years.
Kramer explains that the potential of these new companies is to help fashion brands “keep costs down” and “respond at lightning speed to changes in trends”. He argues that while big tech firms are also entering the space, these specialized startups have an advantage because they have “built a product exactly for today’s need,” which results in “a cleaner product, a better experience and a much more fully formed version of that innovation”.