AI-Based Cosmetics Startup
Establishes AI Innovation Team Within Group
Cosmax, an original design manufacturer (ODM) of cosmetics, announced on the 29th that it has acquired ArtLab, an artificial intelligence (AI)-based cosmetics technology startup.
Founded in 2019, ArtLab has developed visual AI-based skin diagnostics and customized cosmetics solutions. It collaborated with leading dermatology departments in Korea, including Seoul National University Hospital, to develop AI capable of evaluating skin and distinguishing more than 30 types of skin diseases. Last year, ArtLab developed 'SkinChat,' a beauty consultation AI chatbot using AI and large language models (LLM). This solution analyzes skin and recommends products in a mobile environment, as well as provides customer consultation. Cosmax first established a relationship with ArtLab by investing 500 million KRW in 2020. Since then, ArtLab has also participated in the development of Cosmax's customized cosmetics platform, '3WAAU.'
Cosmax decided on this acquisition to pursue innovation using AI and robotics technology across all business areas, including research and production. They plan to significantly improve the speed of new product research and development by leveraging ArtLab's AI technology.
In production, they will actively apply not only AI but also robotics technology to maximize production efficiency. The goal is to establish a multi-product small-quantity production system using robots in response to the continuous increase in customer orders. They aim to shorten research and development time and open an era of 'minimum order quantity of one,' where AI prescribes and robots produce.
Along with the acquisition of ArtLab, Cosmax established an in-house AI innovation organization. The AI innovation organization will be led by CEO Tae-woong Eom, the founder of ArtLab. CEO Eom is an expert in AI and robotics engineering, having studied mechanical and aerospace engineering at Seoul National University and completed his doctoral course at the University of Waterloo in Canada.
Byung-man Lee, CEO of Cosmax BTI, emphasized, "Recently, AI has emerged as a key driver for customer-customized solutions and innovative product development in the global cosmetics market. With the synergy generated from this acquisition of ArtLab, Cosmax will redefine beauty tech and further strengthen its ODM competitiveness."
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