Alice Chang on Leading Beauty’s Technological Revolution at Perfect Corp.
In a recent chat, Alice Chang, the inventive CEO of Perfect Corp., knows the fascinating tale of how she co-founded CyberLink and then spearheaded the revolutionary change in beauty through AI and AR technologies. Separate from CyberLink in 2014, Perfect Corp. has risen up as a global leader offering next-generation solutions like YouCam apps and AI-powered virtual try-ons for cosmetics and skincare.
The firm works with more than 700 beauty and fashion brands worldwide, helping them establish new retail experiences via state-of-the-art AI technology. Alice explains how the company has seen dynamic growth because of the increased demand for AI solutions from both B2B and B2C market sectors. With a considerable push into skincare diagnostics and Generative AI features, Perfect Corp. will set footsteps into a wider market at the same time promoting sustainable practice through digital efforts.
She has also mentioned some strategic investments in AI development and possible M&A in the keeping of the company’s momentum in the fast-changing landscape. While projecting that Perfect Corp. will see a revenue increase of 12-14% in 2024, Alice is also confident of leveraging AI in catering to the increasing demand of consumers for personalized beauty experiences.
More About Alice Chang
Alice Chang is the founder, CEO, and chairman of Perfect Corp. She was born in Taiwan, where she graduated from National Taiwan University with a degree in business administration, then went on to UCLA’s business school, where she met her husband. Upon returning home, she worked as an investment banker for Citigroup while also teaching computer science. In 1997, she and her husband co-founded Cyberlink, which provided software to 90% of computer shipments worldwide.
She played an instrumental role in the launch of YouCam Perfect, a free app for photo editing, in 2014 as the evolution of the personal computer market occurred. The success of the app then allowed Alice to spearhead an 80-person team toward the spin-off from CyberLink to create Perfect Corp.
Perfect Corp. sets out to tackle the issues affecting brand clients and consumers, helping them achieve their beauty aspirations. Their AI and AR technologies are designed to provide a personalized and fun online shopping experience.
Factors Fueling the Demand and Perfect Corp.’s Strategy to Maintain the Growth
Currently, Perfect Corp is driven into the B2C segment; however, the potential exists within the overall AI and AR solutions realms in both B2B and B2C segments. This B2C segment has recently turned out to be the biggest growth engine for Perfect Corp, showing a steady rise in the number of paid subscribers. Highlighting worldwide interest in photo and video editing, their creation, enhancement and beautification are fueled by AI technologies, spanning many ages and reaches.
In regard to B2B, the prospective macroeconomic recovery continues to lag behind the feeble performance of brand clients this year so far there are positive signs that engender conviction for future growth in that sector. Perfect Corp. remains reticent on not hiring out to the hype of working closely with clients as they all prepared for that inevitable rebound in growth and investment.
The company continues to pour significant resources into AI technologies that would redefine their sectors for creating innovations and efficiencies in beauty and fashion. In recent years, Perfect Corp. has executed new milestones in the skincare sector, often considered larger in addressable markets than makeup.
Strategies to Keep Existing Clients Intact and Attract New Ones
It’s rooted in that deep understanding the company has both in the market and in the consumers in the areas of the major challenges they face. The YouCam applications have been able to consistently experience growth in the number of subscribers over the past few years. The interest in AI features continues worldwide in photo and video editing, creating, enhancing and beautifying approaches appealing to various age groups and regions.
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New features are regularly added to the mobile apps, such as using innovative digital solutions powered by cutting-edge AI technologies for images and videos. Such things as customized solutions for brands are offered by the company as well as a self-service skin analysis platform for non-medically invasive aesthetic clinics.