Artificial Intelligence – Will it Hurt or Help the Furnishings Industry?

Artificial Intelligence… The very words can frighten us after seeing or reading countless movies and books where the friendly helper becomes a deadly foe. And now, we see it making an impact in the home furnishings industry – an impact that will affect all of us eventually (if it hasn’t gotten to you already).

So, what is AI? “Artificial Intelligence (AI) is machine-displayed intelligence that simulates human behavior or thinking and can be trained to solve specific problems.” (SimpliLearn.com)

Further, AI is already impacting all of our lives on a daily basis.

• As per Gartner, 37% of organizations have implemented AI in some form. The percentage of enterprises employing AI grew 270% over the past four years.

• According to Servion Global Solutions, by 2025, 95% of customer interactions will be powered by AI.

• A recent 2020 report from Statista reveals that the global AI software market is expected to grow approximately 54% year-on-year.

Technology is Changing How We do Business

OK, so why should we worry about using Artificial Intelligence for interior design or in retail furnishings? Well, according to Ashley Furniture CEO Todd Wanek, “By the end of this decade, there will be two types of companies. One, that’s in business using A.I., and the second one that’s out of business. I think it’s going to be that impactful.” (FurnitureToday.com)

Admittedly, that is a pretty bold claim. Then again, it’s not like a smartphone, tablet, or laptop is NOT being used to help interior designers reimagine a homeowner’s space. Or, to help a furnishings dealer show a client exactly how a new piece of furniture will look when placed in their home.

Apps like these are the very definition of Artificial Intelligence and they’ve been available for quite a few years.

“Home furnishings retailers are deploying [AI] with virtual reality technology to show how home furnishings will look within a room. They’re adding chatbots to their online customer service applications. They’re using it with business forecasting and data analysis, as well as to write copy for press releases or product descriptions on their websites.”

AI Will Boost Productivity

Clearly, AI can make our lives easier – when used effectively. The fear of AI comes from imagining what the logical implications of employing such a powerful technology might be moving forward.

Could AI be developed in a way that it could design custom furniture on its own? Could it take over for interior designers and reimagine a client’s space without the designers’ input? Just how far will we go?

Mr. Wanek explains, “There’s a tool called Midjourney right now that we’re using. We’re using it for creative service. Our design team is using it to help design product[s]. It’s unbelievable what it can do in five minutes, which would have taken hours before. In our product knowledge team, what would have taken them three weeks, they got done in three days just through ChatGPT.”

Additionally, he shared, “We’ve deployed it already in some cases, like in transportation and accounts payable. We’ve also deployed it in human resources. It goes through resumes and helps identify whether the person applying is capable of working for our company.”

Whether we like it or not, new technologies – including Artificial Intelligence – are having and will continue to have a meaningful impact on our industry. To quote our hero and mentor:

“I have an idea that AI needs to be humanized for designers. It's already having an impact on our industry and the early adopters will own the largest market share.” (Ted Fall)

We’ll be examining this issue in future posts about how and whether Artificial Intelligence will hurt or help the furnishings industry.

For now, Ted remains available for his impressions of issues like these and for business consulting to the trade. All you have to do is… Contact TD Fall today.