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Leading cosmetic and personal care brand, L’Oréal R&I has announced its partnership with NASSCOM CoE (IoT & AI) to Co-develop and adopt technology, tapping vibrant technology & start-up ecosystems of India.
This joint initiative will help address the potential application of emerging technologies like AI, ML, IoT, AR / VR / MR, etc in cosmetic/dermatological product development, consumer evaluations, personalization, and process optimization for accelerating/augmenting the L’Oreal R&I teams.
“There is a vast pool of innovative companies through CoE that specialize in data-based predictive approaches and solutions capable of addressing specific questions related to the consumers in real-time,” the statement said.
Speaking on the partnership, Dr. Yogesh Suradkar, VP Research & Innovation, SAP MENA Zone for L’oreal said, “We are delighted to have entered this alliance which will enable us to co-create and co-innovate new-age, technology-backed solutions. Over the few years, there has been a paradigm shift in the field of beauty, with technology being at the helm of this adaptation.”
“CoE is our preferred partner for their ecosystem and expertise in India, which will help us to address the critical needs and create opportunities in the technology space in our endeavor to augment our efforts in digital transformation. We believe this will bring in new value propositions to the holistic beauty and well-being solutions that we deliver to our diverse consumers,” he added.
Commenting on the development, Sanjeev Malhotra, CEO of NASSCOM CoE further said, “Innovation has to address customer needs of today as well as the future. The partnership will help realize new scientific cutting-edge technologies that will lead to a novel generation of ideas & innovation. We work towards strengthening the innovation ecosystem that includes enterprises, start-ups & academia to take forward the agenda of digitalization and generating valuable insights that will benefit the industry and their consumers.”
The launch meeting was attended by the L’oreal leaders from India, France, Japan & other countries, and the CoE team from Bangalore. The two teams committed to executing an agenda that will address the global needs and jointly work on a roadmap for future technology areas.