The global artificial intelligence (AI) market is poised for exponential growth, and My Size, Inc. (Nasdaq: MYSZ) is making significant strides in this dynamic landscape.

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.

Founded in 2014 by Ronen Luzon, My Size was born out of a frustration with the challenges of online shopping, particularly the uncertainty around sizing and the hassle of returning ill-fitting items. Recognizing the impact of these issues on both consumers and retailers, Luzon set out to create a solution that would standardize sizing and enhance the online shopping experience.

My Size developed a range of measurement apps, including MySizeID, BoxSize, SizeUP, First Look Smart Mirror, and Smart Catalogue, all based on the company’s patented algorithms and software development kits (SDK). These innovative measurement solutions have revolutionized the way consumers find the right fit across various size charts, driving buyer satisfaction and reducing costs for online retailers.

Let’s take a closer look at My Size, Inc. (Nasdaq: MYSZ)’s AI-driven measurement solutions:

By leveraging My Size, Inc. (Nasdaq: MYSZ)’s MySize ID, retailers can match shoppers’ personal measurements with their brand’s size chart, resulting in significantly fewer returns and increased customer satisfaction. The platform comprises three essential elements: the widget, app, and My Dash.

The widget is seamlessly integrated into the retailer’s e-commerce platform, displaying size recommendations for individual shoppers on a per-item basis. These recommendations are based on data input into My Dash, the user-friendly size chart editor. Retailers can create a unique size profile for their customers using the MySize ID app or the online sizing wizard available on the My Size ID website.

My Dash plays a pivotal role by generating a comprehensive size chart for each apparel item and integrating it directly with the retailer’s product lifecycle management (PLM) and inventory database. Furthermore, MySize ID offers analytics with aggregated customer data, providing in-depth insights into consumer behavior. These insights enable retailers to further enhance personalization and tailor their offerings to meet customer preferences.

The MySize ID app or software development kit (SDK) empowers shoppers to create personalized size profiles by recording their body measurements with their smartphones. This convenience extends beyond online shopping and can be implemented in brick-and-mortar stores. Shoppers can easily scan barcodes, receive size recommendations, and make purchases directly through the app, bypassing fitting rooms and registers.

Logistic companies often face the challenge of accurately measuring packages to ensure efficient shipping and storage. With Box Size, an innovative measuring tool, logistics professionals can streamline their operations and optimize package measurements.

To get started with Box Size, simply log into the Box Size app using your email address and organization code. Once logged in, you can easily scan the package’s barcode or add it manually. If the barcode is unavailable, you can leave the field blank and take all three measurements in one click.

Using the app, place your device on the surface next to the package, towards the bottom right corner, and tap “start.” Wait for the beep, then move the device to the top of the package. After another beep, move the device to the left side of the package. Finally, move the device to the upper left end of the package and wait for the last beep. Tap “save” to store all three measurements.

Box Size allows you to measure each dimension separately as well. To measure the package’s height, tap on the “height” option and place your device near the package’s surface. Tap “start” and wait for the beep, then gently lift your device and place it on top of the package. Remember to tap “save measurement” before continuing.

If needed, you can redo measurements by tapping “measure again.” Box Size also offers flexibility in measurement methods. You can change the height measurement method in the app’s settings, allowing you to move the device from a top corner to the same side’s bottom corner.

Box Size provides additional features to enhance measurement accuracy. You can customize measurement units and add the package’s weight, comments, pictures, and select the package type. Once you have finalized the measurements, tap “confirm and send file” to save the package’s information and transmit it to the Box Size dashboard or your server.

By using Box Size, logistic companies can ensure precise package measurements, leading to improved efficiency, reduced errors, and enhanced logistics operations. With its user-friendly interface and comprehensive functionality, Box Size is the perfect solution for accurate package measuring in the logistics industry.

The SizeUp App is based on technology developed by MySize Inc. These revolutionary patent-pending algorithms that utilize Smartphone sensors to accurately measure anything from everyday objects to body measurements.

Introducing First Look Smart Mirror, an interactive point-of-sale (POS) display that revolutionizes the in-store fashion shopping experience. With My Size ID integration, customers can preview items on a virtual avatar, ensuring accurate personalized sizing and fit. Real-time stock availability and upselling recommendations enhance the shopping journey, while NFC technology enables seamless checkout. This innovative solution reduces returns, boosts sales, and increases customer satisfaction.

First Look Smart Mirror by My Size transforms the in-store fashion shopping experience, delivering personalized sizing, real-time stock availability, upselling, and effortless checkout. Retailers can enjoy reduced returns, increased sales, and improved customer satisfaction. Elevate your brick-and-mortar store with this innovative solution and stay ahead in the ever-evolving retail landscape.

As a testament to its growth and potential, My Size experienced significant investments and went public on NASDAQ in 2016. The company’s commitment to continuous innovation and expansion led to partnerships with renowned fashion brands, including Diesel, Natura, and Rotholz, among others, which adopted My Size’s AI-driven sizing solutions in 2022.

Beyond its achievements, My Size is gaining recognition for its positive impact on sustainability. By reducing size-related returns, the company’s solutions align with the growing emphasis on environmentally conscious practices, making it an appealing choice for socially responsible stakeholders.

Looking ahead, the global AI market is set to witness remarkable growth across industry verticals such as automotive, healthcare, retail, finance, and manufacturing. Tech giants like Google, Microsoft, IBM, Amazon, and Apple are investing heavily in AI research and development, further fueling technological advancements in these sectors. With a projected CAGR of 37.3% from 2023 to 2030, the global AI market is on track to reach a value of $1,591.03 billion by 2030.

Favorable government initiatives are also shaping the industry landscape, as countries recognize the transformative potential of AI. For example, the Government of India has increased spending for its Digital India initiative to boost AI, IoT, big data, cybersecurity, machine learning, and robotics. Similarly, the establishment of subcommittees on machine learning and AI within the federal government in the United States underscores the growing traction and support for AI-related advancements.

As the AI market continues to evolve, My Size, Inc. stands out as a company to watch. Its AI-driven measurement solutions have the potential to redefine the online shopping experience, enhance customer satisfaction, and drive revenue growth for businesses. With its innovative approach and commitment to technological advancement, My Size is poised to make a lasting impact in the ever-expanding AI landscape.