Innovation Management

The cosmetic industry, known for its innovation and adaptability, embarks on a complex journey from concept to market. This intricate process encompasses various stages, including market research, product development, formulation, regulatory compliance, manufacturing, marketing, and distribution. However, challenges emerge due to stringent regulations, shifting consumer preferences, and fierce competition. Conversational AI can play a pivotal role in enhancing efficiency and decision-making during New Product Development (NPD) within the cosmetic industry.