L’Oreal, a leading player in the consumer cosmetic and personal care market globally announced their collaboration with NASSCOM CoE (IoT & AI) to Co-develop and adopt technology, tapping the vibrant technology & start-up ecosystems of India. CoE (Center of Excellence) known for its technology enablement has successfully accelerated the innovation needs of large and mid-size companies in the areas of healthcare & wellbeing, process, manufacturing etc.
This joint initiative will help address the potential application of emerging technologies like AI, ML, IoT, AR / VR / MR etc in cosmetic/dermatological product development, consumer evaluations, personalization and process optimization for accelerating/augmenting the L’Oreal R&I teams. There is a vast pool of innovative companies through CoE that specialize in data-based predictive approaches and solutions capable of addressing specific questions related to the consumers in real-time.
Dr. Yogesh Suradkar, VP Research and Innovation, SAPMENA Zone, L’oreal “We are delighted to have entered this alliance which will enable us to co-create and co-innovate new-age, technology-backed solutions. Over the few years, there has been a paradigm shift in the field of beauty, with technology being at the helm of this adaptation. CoE is our preferred partner for their ecosystem and expertise in India, which will help us to address the critical needs and create opportunities in the technology space in our endeavour to augment our efforts in digital transformation. We believe this will bring in new value propositions to the holistic beauty and well-being solutions that we deliver to our diverse consumers.”
Sanjeev Malhotra, CEO, NASSCOM CoE said, “Innovation has to address customer needs of today as well as the future. The partnership will help realize new scientific cutting-edge technologies that will lead a novel generation of ideas & innovation. We work towards strengthening innovation ecosystem that includes enterprises, start-ups & academia to take forward the agenda of digitalisation and generating valuable insights that will benefit the industry and their consumers”
The launch meeting was attended by the L’oreal leaders from India, France, Japan & other countries and CoE team from Bangalore. The two teams committed to executing to an agenda that will address the global needs and jointly work on roadmap for future technology areas.