AI, virtual reality & big data impacts on industry

CIBJO Technology Committee publishes the Report!   

With just six days to go to the opening of the 2023 CIBJO Congress in Jaipur, India, on October 3, 2023, the tenth and final edition of this year’s pre-congress special reports has been released. Prepared by the CIBJO Technology Committee, headed by Stéphane Fischler, the report looks at the impacts of new technologies on the jewellery industry, and in particular those related to artificial intelligence, virtual and augmented reality, and big data. 

“We need to learn as we move along, investing in digital infrastructure and talent, and using the data we capture in a legal and optimal fashion,” Fischler writes. “To prosper in this brave new world, we have to innovate in order not to be left behind.” 

All of the various system discussed are dependent on the availability of data, collected via the Internet, and also increasingly from the data generated by the new technologies being introduced, he states. “But it is not enough to gather data – you need to understand its relevance and implement measures based upon it to maximise returns,” Fischler continues. 

“In essence, gathering, validating, understanding and then protecting information is becoming absolutely essential in enabling us to make optimal decisions at any given point in time. Increasingly, it’s what gives some in our business their competitive edge.”  

Artificial intelligence (AI), the Chair of the CIBJO Technology Committee writes, is a game-changer. Misinformation is always a concern, he says, but deep learning injects a continuing element of self-improvement, meaning that as time as progresses and the data-pool grows, a system’s analysis of the information becomes more accurate.  

“The question is now how to make the most of the opportunities that technology offers while maintaining and increasing the unique appeal of jewellery” Fischler writes. “How do we maintain the centuries-old desire to adorn oneself and enjoy the mental benefit of it, in a virtual setting?”  

“How will jewellery retailers adapt to the virtual mode, and manage to enhance both the digital and physical retail experiences, with customers often connected to one or more devices, through which they themselves are producing a steady stream of data,” he continues. “And, importantly, how do we protect creativity and intellectual property? Are copyright laws currently equipped to face this new challenge?”