How tech advancements will revamp the gems and jewellery industry

By Colin Shah, MD, Kama Jewelry

Gems and jewellery is an industry driven by innovation and creativity. With the passage of time, technology has played a crucial role in shaping and moulding this industry to march towards a new era. The advancements in technology have helped in revolutionizing the gems and jewellery industry in several ways. They have played a pivotal part in enhancing everything from production to sales to customer experience. Given below are some of the key areas where technology is making a significant impact and will revamp the entire gems and jewellery industry:

Digital jewellery design:

Artificial Intelligence (AI)-powered design tools for customization are one of the major factors taking technology to a new level. In gems and jewellery industry, AI has been playing an instrumental role ever since its inception. Customer preferences keep evolving and changing. This is where AI comes into the picture. With AI design tools, jewellers can create personalized jewellery designs as per customer preferences and trends. Also, during online shopping, AI is able to monitor customer behaviour and preferences and suggest items which accurately match the preferences of the customer, thus personalizing the overall shopping experience.

⁠3D Printing:

Rapid prototyping and production thanks to 3D printing is another important technological evolution in the gems and jewellery industry. It is one of the most transformative technologies for jewellery prototyping. With 3D printing, designers can create detailed models in various materials which allow for rapid iterations and modifications. This also helps in reducing waste and production costs.

Virtual Try-On: Augmented Reality (AR) experiences

Since Covid, customer preferences have rapidly changed. During and even post Covid era, customers look forward to have an experience similar to shopping at their home wherein they want to try out things they intend to purchase. The gems and jewellery industry is no different. To cater to this demand, Augmented Reality (AR) has been a tool instrumental in giving customers the option to try jewellery in the comfort of their homes before purchasing them. Another important tool that has changed the way the gems and jewellery industry functions is Virtual Reality (VR) which has created immersive experiences like virtual store tours or access to educational content related to gems.

Blockchain Authentication: Secure tracking and verification

Blockchain technology has proved to be a boon for the gems and jewellery sector in a big way. With the advent of Blockchain technology, the traceability of gemstones from mine to market has witnessed tremendous improvement. It has also ensured ethical sourcing, thereby reducing fraud.

Online Marketplaces: E-commerce platforms for direct sales

To ensure robust sales, collaboration with e-commerce sites has been a proven method to drive sales at a greater scale as e-commerce sites see larger footfalls of a brand’s target customers. Additionally, providing alternative and convenient payment options to customers will also prove to be beneficial, especially while catering to tech-savvy customers who are always in search of new options.

Conclusion

Overall, technology is not just a tool for efficiency but a catalyst for innovation in the gems and jewellery industry. By embracing these technological advancements, the gems and jewellery industry can enhance its efficiency, transparency, ethical practices and customer satisfaction. This will ultimately drive growth and innovation, which will open the door for the industry to explore new markets.

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