Corporate Excellence Awards 2022

Jan22046 Producing Perfection Perfect Corp. aims to transform the beauty industry by marrying the highest level of AR and AI technology with the ultimate shopping experience, completely reinventing the consumer beauty journey. We find out more from Perfect Corp. founder and CEO, Alice Chang, as Perfect Corp. wins Most Innovative Beauty & Cosmetics Tech Company 2022. Perfect Corp is the leading SaaS artificial intelligence (AI) and augmented reality (AR) beauty and fashion tech solutions provider, dedicated to transforming the consumer shopping experience through innovative digital technologies for businesses and consumers. “Our true-to-life interactive virtual try-on experiences deliver a hyper-engaged consumer shopping journey that speaks to the modern-day consumer,” enthuses CEO and Founder, Alice Chang. “Our solutions are also Metaverse-ready, helping brands lean into the digital transformation and adopt digital-first strategies that can be integrated across all platforms.” With a highly trained global team of more than 270 employees, including 120 AI developers, Perfect Corp. has over 44 patented (and patent-pending) innovations that continue to push the envelope and reimagine the consumer shopping experience for a safer, more impactful shopping journey. Currently, the company serves its clients and consumers with an ever-growing selection of B2B and B2C services that fit across a range of omni-channel touchpoints and play to an enhanced consumer shopping experience, all powered by AI and AR technology innovations. It has more than 400 brand partners around the globe spanning beauty, fashion, retail, technology, and media. The B2B service offerings include custom enterprise solutions and subscriptionbased SAAS solutions that meet the needs of large and small, indie businesses alike. These solutions help brands re-imagine the consumer shopping experience through the implementation of advanced AR and AI experiences that deliver a more consumercentric journey for shoppers and drive business. The B2C side of the business offers complimentary and premium app subscriptions for the YouCam suite of apps. These YouCam apps have amassed nearly 1 billion global downloads and the interactive virtual apps span from beauty experimentation in YouCam Makeup, to photography editing in YouCam Perfect, and deliver on unique, hyper-realistic effects for consumers to discover, try, create, and shop with ease from their mobile device. “Perfect Corp.’s unique advantage lies in our patented AI and AR virtual try-on technologies,” Alice elaborates. “Our virtual effects are based on decades of machine learning algorithms that ensure a virtual experience that rivals a physical one, with skin tone matching, and adaptive lighting, that deliver instant true-to-life results with 98.5% precision rate, matching the exact colour and finish of more than 370,000 products.” This level of accuracy has enabled brands and beauty lovers to rely on Perfect Corp. technology as a means of helping them make more confident purchase decisions, driving a >30% CTR in ecommerce, up to 2.5 times conversion rate, and an 8% decrease in returns. The firm’s pioneering technology delivers unprecedented effects with true-to-life accuracy and offer seamless integration across omnichannel touchpoints that best serve brands and improve on the customer experience with impactful results. Perfect Corp is fast to act, and fast to adapt, keeping a close pulse on the market and an open mind for unique ways its technology can improve upon the consumer shopping journey. The fast moving, adaptive team strives to deliver constant innovation to push the boundaries of what’s possible. This was particularly useful when the Covid-19 pandemic hit just over two years ago. “Covid brought with it a surge in online shopping and growing demand for brands to rethink their consumer shopping experience through a safer, interactive, digital-first lens,” explains Alice. “It also challenged brands and retailers to quickly lean into the digital transformation and created a huge opportunity for our AI and AR-powered services and solutions. We were able to quickly adapt to the growing demand for virtual try-on services by offering subscription-based solutions that allowed for faster expansion and integration.” Now, one of the biggest challenges the firm is facing is surrounding the technical complexity that comes with the expansion of its AI and AR virtual try-on technology to areas outside the face. The mapping and tracking of faces is easier than other areas (like hands), due to the fact that there are more physical facial landmarks and distinctive features. Alice adds, “In developing the newly launched AgileHand TM technology, our team was challenged to create a new tool and new methodology using a combination of AI and AR technology capable of tracking the unique movements and gestures of our hands. This innovation was the culmination of many years of AI and AR innovation and learnings in order to deliver precise product tryons that felt realistic, instead of cartoonish. This ensured digital product try-ons that follow the arms natural movements and accurately displays the different angles of the product as you move or twist your hand.” Having recently been named Most Innovative Beauty & Cosmetics Tech Company 2022 by Corporate Vision, Perfect Corp has ambitious plans to keep innovating and keep expanding. “We will continue to build on our beauty and fashion tech solutions, with advancements in AgileFace TM and AgileHand TM technologies that enable unprecedented virtual try-ons.” Alice continues, and in conclusion she shares, “Continued AI innovation will bring more personalised consumer shopping experiences that match consumers with the best products and shades for their needs. We will also continue to expand our interactive offerings like YouCam Tutorials featuring personalised step-by-step animation effects for makeup application.” Contact Details Contact: Lindsay Colameo Company: Perfect Corp Web Address: