LVMH rewards artificial intelligence startups at VivaTech
In Paris, enthusiasm for artificial intelligence is very high. This is demonstrated by the statements of French President Emmanuel Macron, who announced €400 million of public investment in research and training in this kind of digital technology to make “the Ville Lumiere a capital of artificial intelligence.”
He evidently shared his enthusiasm with LVMH’s Bernard Arnault, who, at VivaTech, the event promoted by the luxury group dedicated to startups and digital innovations, awarded the Innovation Award to FancyTech, a platform that uses generative artificial intelligence for video production.
During the award ceremony–which took place yesterday at Expo Porte de Versailles, where Vivatech will continue until May 25–the French tycoon emphasized all his interest in the role of AI within the creative value chain and in the world of startups.
“In our group we manage 75 startups that are now adults,” Arnault said. “Each of these companies, which we call maison, were startups and family businesses in the beginning,” he added.
From the VivaTech stage also came advice from the LVMH patron for all the young companies involved in the event. “It is crucial not only to have extraordinary ideas, but to make them work very efficiently,” he said.
This feature fits perfectly with the winning startup FancyTech whose strength, as its co-founder Morgan Mao said: “We are producing high-quality content in record time. In fact, in a recent project with Hublot in China, our company’s Gen AI-level capabilities resulted in the creation of 40 product videos within two weeks, rather than months.”
The LVMH Innovation Award winner was selected from a record number of 1,545 entries from 89 countries, up from 1,320 the previous year.
FancyTech also won the Immersive Digital Experiences award. The 18 finalists were divided into six groups: images and media for brand desirability; omnichannel and retail; sustainability and green tech; operational excellence; immersive digital experiences and employee experience; and diversity and inclusion, with one winner nominated in each category.
Other award-winning projects were Ircam Amplify, which specializes in sound design and immersive installations; Actual, which produces 3D printed stores and architectural finishes using recycled materials that can be reused in a circular loop; Glanceable, which uses artificial intelligence to centralize and analyze customer feedback in real time; Authena, which relies on the Internet Of Things and AI to strengthen supply chain integrity by detecting counterfeits and product defects; and finally Heralbony, a digital art agency that promotes artists with disabilities.
This year’s winners were awarded trophies designed by Dior’s visual merchandising team under the supervision of Luca Albero, creative director of visual merchandising at Christian Dior Couture.
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