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MySize’s (Nasdaq: MYSZ) Naiz Fit Smart Catalogue leverages AI to redefine sizing standards in the jeans industry

The surge in interest in artificial intelligence this year has sparked a significant uptick in tech stocks, predominantly driven by a select group of prominent US firms. These "front-runners," comprising semiconductor manufacturers essential for AI development and cloud service providers equipped with the necessary computing infrastructure, yielded an approximate 60% return in the initial eight months of 2023, as reported by Goldman Sachs Research.

MySize, Inc (MYSZ) revealed the outcomes of a pilot Smart Catalogue implementation with global apparel brand, Salsa Jeans. The Smart Catalogue is a SaaS solution that assists fashion designers in creating patterns to enhance fit, aiming to decrease unsold items and augment profitability.

AI in the Apparel Industry

The apparel sector frequently grapples with sizing inconsistencies leading to increased returns and waste, with 40% of women facing sizing issues. This problem, combined with challenges in predicting size demand based on demographics, results in 30% of all produced clothing remaining unsold.

Salsa Jeans utilized Smart Catalogue to evaluate size consistency in its jeans collection, conducting 342 tests on 31 patterns using 32 individuals fitting their target demographic. Advanced AI tools, including ChatGPT, facilitated data analysis.

The data-driven insights revealed a need for Salsa Jeans to adjust its sizing for a better fit. The Smart Catalogue pinpointed patterns that required corrections and offered recommendations on size ranges suitable for various physical stores considering demographics. Recognizing the potential, Salsa plans to leverage the Smart Catalogue for e-commerce and use AI insights for designing future collections.

MySize Founder and CEO, Ronen Luzon, emphasized Smart Catalogue's potential to address apparel sizing challenges by merging data with designers' intuition, leading to enhanced brand loyalty, reduced returns, and a more sustainable environment.

The Growing AI Industry

The global artificial intelligence market has surged to unprecedented levels and shows no signs of slowing down. With a valuation of around $454 billionin 2022 and a projected compound annual growth rate (CAGR) of approximately 19%from 2023 to 2032, the market is experiencing a seismic shift driven by continuous research and innovation led by tech giants.(8)

Industries spanning automotive, healthcare, retail, finance, and manufacturing are embracing artificial intelligence as a central element of their operations. Tech giants are driving this transformation through substantial investments in research and development. For instance, Intel Corporation’s acquisition of Cnvrg.io, an Israeli company specializing in machine learning models, underscores the company’s commitment to advancing its artificial intelligence business.Artificial intelligence has elevated technology to the forefront of organizations, revolutionizing various sectors. From self-driving vehicles reshaping transportation to life-saving medical equipment, AI has become an integral part of almost every device and software program. Its ability to analyze massive amounts of data, make complex decisions, and learn from patterns has made AI indispensable.(8)

As the global artificial intelligence market expands, it brings forth opportunities for innovation, efficiency, and growth. Industries are leveraging AI to optimize processes, enhance customer experiences, and achieve unparalleled levels of productivity. Within this rapidly evolving landscape, My Size, Inc. (Nasdaq: MYSZ).

My Size, Inc. (Nasdaq: MYSZ) is an emerging player in the AI-driven measurement solutions market, offering innovative technologies to drive revenue growth and reduce costs for businesses. As industries increasingly adopt AI solutions, My Size’s offerings, such as MySizeID and Naiz Fit, hold great potential to disrupt traditional measurement processes in sectors like apparel, e-commerce, and logistics.With a focus on delivering accurate and efficient measurement solutions, My Size, Inc. (Nasdaq: MYSZ) could be well-positioned to capitalize on the growth of the global artificial intelligence market.

Reasons Why My Size, Inc. (Nasdaq: MYSZ) Could Be Poised For Significant Upside Potential in 2023.

Active Chart: Shares of My Size, Inc. (Nasdaq: MYSZ) recently bounced off their 52-week low of $1.02 on 6/27/23 before surging over 168% in less than 2 months when they reached $2.74 on 8/22/23. (3) Their 52-week high of $8.46 set back on 12/8/22 could suggest an upside potential of over 729% from their 52-week low. (3) A move back to previous levels is not certain, but the potential should be noted. (3)

Ultra Low Float: According to Finviz.com, My Size, Inc. (Nasdaq: MYSZ) has less than 1.42 million shares available in its public float with insiders owning approximately 18.38% as of 9/7/23.(4)

AI-Driven Technology: My Size, Inc. (Nasdaq: MYSZ) boasts a portfolio of cutting-edge, AI-driven measurement solutions that have the potential to revolutionize multiple industries. (5)

Disruptive Market Potential with Sustainability Focus: My Size, Inc. (Nasdaq: MYSZ) is an emerging AI-driven measurement solutions company set to disrupt the $38 billion apparel returns market. With a strong focus on sustainability, their solutions aim to reduce size-related returns, aligning with the growing emphasis on eco-conscious practices. (1)(2)

High-Profile Partnerships: My Size has already established partnerships with renowned fashion brands, demonstrating its ability to attract and collaborate with industry leaders. MySizeID and Naiz Fit’s AI-driven sizing solutions were adopted by the following brands: Diesel, Celio, Superdry, Marithe François Girbaud, Replay, Canali, Harper & Neyer, Rotholz, and Natura.. (7)

To Read More About MYZS please click HERE

My Size, Inc. (Nasdaq: MYSZ) has demonstrated remarkable growth and resilience in the second quarter of 2023. With substantial increases in revenue, gross profit, and a narrowing of losses, the company is on a path of sustained success. Their innovative sizing solutions, impressive partnerships, and strategic acquisitions have positioned them as a prominent player in the e-commerce industry. As they continue to expand their user base and drive efficiency across their operations, My Size, Inc. (Nasdaq: MYSZ) is poised for a promising future in the world of AI-driven measurement solutions. (25)

Other AI related stocks to take notice include: Nvidia (NVDA), C3.ai (AI), KLA (KLAC), Cadence Design Systems (CDNS), Synopsys (SNPS), Palo Alto Networks (PANW), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), UiPath (PATH)

Sources:

Source 1: https://mysizeid.com/mysizeid-app/

Source 2: https://coresight.com/research/the-true-cost-of-apparel-returns-alarming-return-rates-require-loss-minimization-solutions/

Source 3: https://www.barchart.com/stocks/quotes/MYSZ/price-history/historical?orderBy=highPrice&orderDir=desc

Source 4: https://finviz.com/quote.ashx?t=MYSZ&p=d

Source 5: https://mysizeid.com/reports/mysize-to-exhibit-at-the-retail-technology-show-2023-in-london/

Source 6: https://mysizeid.com/reports/mysizeid-for-pets-mysize-to-launch-ai-driven-sizing-solution-for-5-billion-pet-clothing-market/

Source 7: https://mysizeid.com/reports/mysize-reports-first-quarter-2023-financial-results/

Source 8: https://finance.yahoo.com/news/mysize-reports-second-quarter-2023-130000788.html

Primary Source: https://techmarketstoday.com/emerging-ai-driven-measurement-solutions-company/

Source: https://finance.yahoo.com/news/mysizes-naiz-fit-smart-catalogue-131500104.html 

Source: https://www.goldmansachs.com/intelligence/pages/why-ai-stocks-arent-in-a-bubble.html

Disclaimer: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Please ensure to fully read and comprehend our disclaimer found at https://investorbrandmedia.com/disclaimer/.  InvestorBrandMedia.com has been compensated one thousand and six hundred dollars by a 3rd party Bullzeyemedia LLC for advertisement and content distribution services on MYSZ, from 09/18/2023 to 09/22/2023. We own zero shares of MYSZ. InvestorBrandMedia.com is neither an investment advisor nor a registered broker. No current owner, employee, or independent contractor of InvestorBrandMedia.com is registered as a securities broker-dealer, broker, investment advisor, or IA representative with the U.S. Securities and Exchange Commission, any state securities regulatory authority, or any self-regulatory organization. This article may contain forward-looking statements as defined under Section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. These statements, often incorporating terms like “believes,” “anticipates,” “estimates,” “expects,” “projects,” “intends,” or similar expressions about future performance or conduct, are based on present expectations, estimates, and projections, and are not historical facts. They carry various risks and uncertainties that may result in significant deviation from the anticipated results or events. Past performance does not guarantee future results.InvestorBrandMedia.com does not commit to updating forward-looking statements based on new information or future events. Readers are encouraged to review all public SEC filings made by the profiled companies at https://www.sec.gov/edgar/searchedgar/companysearch. It is always important to conduct thorough due diligence and exercise caution in trading.InvestorBrandMedia.com is not managed by a licensed broker, a dealer, or a registered investment adviser. The content here is purely informational and should not be taken as investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor regarding forward-looking statements. Any statement that projects, foresees, expects, anticipates, estimates, believes, or understands certain actions to possibly occur are not historical facts and may be forward-looking statements. These statements are based on expectations, estimates, and projections that could cause actual results to differ greatly from those anticipated. Investing in micro-cap and growth securities is speculative and entails a high degree of risk, potentially leading to a total or substantial loss of investment. Please note that no content published here constitutes a recommendation to buy or sell a security. It is solely informational, and you should not construe it as legal, tax, investment, financial, or other advice. No content in this article constitutes an offer or solicitation by InvestorBrandMedia.com or any third-party service provider to buy or sell securities or other financial instruments. The content in this article does not address the circumstances of any specific individual or entity and does not constitute professional and/or financial advice. InvestorBrandMedia.com is not a fiduciary by virtue of any person’s use of or access to this content.

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