Innovation launches for luxury synonym - In its latest collaboration with Google Cloud, LVHM shows how AI and cloud-based solutions promote new luxury
Author: Julia S.
- LVHM and Google Cloud collaborate to drive innovation
- AI and machine learning are intended to shape LVHM's corporate culture for the future
- The latest technologies optimize customer experiences and competitiveness
Luxury meets innovation - the luxury conglomerate LVMH and Google Cloud are taking a strategic move Collaboration a. The aim is to find new cloud-based solutions for Artificial intelligence (AI) to develop and accelerate AI-related innovations.
Artificial intelligence for human efficiency
Together, the pioneering powerhouse duo wants to create new, personalized customer experiences for LVHM in order to promote long-term growth and competitiveness. And that along all Maisons - the cross-sector, individual high-end brands - of the luxury goods group.
This vision is favored by the promising combination of both companies. Through the combination of industry-specific, renowned market position, creativity, drive for innovation and technological skills. This is to be mobilized in order to support the human talents of both houses through AI and machine learning technologies (ML).
"We are proud to partner with LVMH in such an innovative and comprehensive way to support their innovations through cloud technology and AI capabilities. Together we can help advance the future of customer experience in the luxury industry."
Thomas Kurian (CEO, Google Cloud)
Inside-Out: Holistic recipe for success
In addition to the modification of business processes through quantitatively improved demand forecasts and inventory optimization, qualitative successes such as customer experiences and personalization are also promoted. And that within the framework of strict data protection and security requirements.
The prerequisite for this is the integration of AI in every part of the value chain at LVMH. Whether product development, supply chains or interfaces with employees, partners and customers - trend-setting, state-of-the-art cloud technology and AI as well as ML tools from Google Cloud should enable the development of new business applications on a large scale.
Promotion of skills: the future model of the AI academy
Passing on the technical know-how of Google Cloud is also intended to improve the culture of innovation at LVMH. Internally, this means creating special, inclusive training and certification programs for Maisons teams. Components of the IT infrastructure are also to be modernized in order to promote agility, security and cost efficiency for the purpose of general performance.
However, the ambition of the collaboration is peaking in an overarching project: Together, the companies are planning a data and AI academy in Paris to train expertise for innovation. This combines the best-in-class approaches of the respective industries and thus reflects the vision of a new, personalized, intelligent and safe luxury industry.
"For us, privacy, personalization and luxury are synonyms and will always be. The new opportunities we offer our customers are exactly what our talented teams at LVMH work for: a unique and unforgettable experience."
Toni Belloni (Group Managing Director, LVMH)
What now? Why AI is more than a trend in the luxury sector
The collaboration between the IT and luxury giants illustrates the current relevance of the latest business models in order to remain relevant and competitive. Trend-setting studies show that luxury is more in motion than ever and that digitization, individualization and data protection are irrevocably linked to the modern understanding of luxury. LVMH x Google Cloud thus sets a future-oriented example, whose emulation will probably only be a matter of time.