Amorepacific

Earlier this year, South Korean beauty and cosmetics conglomerate Amorepacific received multiple accolades for its latest data-enabled innovation, Lip Factory by Color Tailor. Leveraging   an AI-based mobile application called ‘Colour Tailor,’ analyses users' facial features and recommends colors that best match their complexion. A customised lipstick is then created right then and there. 

*Image sourced from Amorepacific unveils AI-based cosmetics technology at CES 2021

However, that’s not all. Over the past year they’ve also launched: 

• Mind-linked Bathbot, a device that analyses human emotions through brain wave signals and enables a robot to instantly make a bath bomb right there based on those insights
• Myskin Recovery Platform, an integrated smart mirror, hand-held sensor, and mobile app set that measures moisture level and skin firmness. It then uses AI to analyse this data to provide personalised advice and product recommendations. 

DBS Bank

DBS Bank has long been at the forefront of the intelligent banking revolution but they show no signs of slowing down. In order to maximise the value of its bountiful data assets, DBS bank is embracing hyper-personalisation. 

For example, the bank’s iWealth wealth management app can now use AI to analyse a customer’s portfolio and, using those insights, recommend stocks or notify them about favourable foreign exchange rates in their trading accounts. 

However, DBS is not only building data and analytics tools into its customer-facing products, they’re also equipping the sales team with next generation customer insights. Not only does this cut down on the time it takes for its account managers to research the client, it also helps them have more meaningful conversations about their investment choices. 

BHP Group

One of the world’s largest miners, BHP Group, has partnered with Bill Gates-backed KoBold Metals, a solution providers that uses machine learning and artificial intelligence to hunt for raw materials. 

According to Axios, “KoBold argues it can boost discovery rates 20-fold by tapping 160 years' worth of scattered geological data, as well as new data taken from fresh surface readings, and using machine learning approaches to analyze it and indicate where mineable deposits are likely to be found underground.”

In addition to helping BHP increase the efficiency and effectiveness of its mineral exploration practices, it will also help the company expand into a new area: future-facing commodities. As demand for EVs soars, so does the demand for lithium and cobalt, the two very materials these solutions will be designed to find. 

Woolworths

This past year Woolworths rolled out its latest innovation: new smart scales. Developed by Tiliter Retail, the scales use an array of hypersensitive cameras that identify products with extreme levels of accuracy and without barcodes. As a result, those looking for a “5 finger discount” will no longer be able to scan lemons instead of passion fruits or avocados. 

Behind the scenes, Woolworth is rapidly expanding its digital footprint, much (if not all) of which is powered by data. Earlier this year it was revealed the company was building a $100 million fully-automated warehouse to supports its home delivery service. That same month it was also announced they were taking over data analytics firm Quantium as well as establishing a new business unit, “Q-Retail.” 

In a statement, Woolworths Chief Executive Officer Brad Banducci said, “Advanced analytics is key to improving the experiences, ranges and services we provide to our customers and the support we provide to our teams and suppliers. The way we gather data, interpret it, and protect it, is becoming ever more important.”

TikTok

We would be amiss if we didn’t talk about social media giant TikTok. Over the course of just 5 years, TikTok has built one of the most effective content recommendation systems. And by “effective” we mean addictive.

In a matter of hours, the algorithm can surmise a user’s age, mood, musical tastes, sexual orientaion and much more. It then uses this information to supply content that isn’t so much satisfying as enticing. In other words, it doesn’t give you what it thinks you want, but rather what will keep you watching. 

However, TikTok is looking to expand beyond an advertiser-based business model by monetising its proprietary AI products. In fact, as of July 2021, companies can buy TikTok’s recommendation algorithm along with, among other things, its computer vision tech, real-time effects and automated translations. 

Our guess? This is merely just a first step towards Tik Tok evolving into a full blown technology company. However, don’t be fooled. In all likelihood, user data will still likely be at the heart of these new business ventures. 

Interested in learning how other APAC-based organizations are maxising the ROI of data? Join us March 01 - 02, 2022 for the Data ROI APAC virtual event.