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May 16, 2024 : In a move designed to merge fashion and technology, sportswear giant Reebok has unveiled a novel custom sneaker design experience leveraging artificial intelligence (AI). Christened “Reebok Impact,” this initiative empowers users to create personalized digital sneakers directly on Instagram’s social media platform.
The process is both interactive and user-friendly. Consumers can initiate the experience by sending a cherished photo memory via direct message to the dedicated “@ReebokImpact” Instagram handle. Subsequently, Futureverse, a partner company specializing in AI and metaverse technologies, engages users in real-time chat. Through this chat interface, Futureverse’s AI tools translate the colors and stylistic elements of the submitted photograph into a unique digital sneaker design.
Users have the option to customize their digital footwear further. Reebok Impact offers a selection of three iconic Reebok models—the Pump, Classic Leather, or Club C – as a base for the design. Additionally, users can personalize their sneakers with AI-generated artwork, ensuring a truly one-of-a-kind creation. Notably, the original photo memory is embedded within the sole of the virtual sneaker, serving as a permanent reminder of its inspiration.
The company emphasizes the accessibility of the Reebok Impact experience. Up to four digital sneaker designs can be created entirely free of charge. These creations can be shared with friends and family on social media platforms. Moreover, users can purchase their designs as game-ready files compatible with popular virtual worlds like Unreal Editor for Fortnite (UEFN) and Roblox. This integration with virtual experiences broadens the utility of the custom sneakers, allowing users to showcase their creations within these digital environments.
The launch of Reebok Impact signifies a strategic move by the company to capitalize on the burgeoning trend of digital wearables. As the metaverse and virtual experiences continue to gain traction, the demand for personalized and expressive digital avatars is expected to rise. Reebok Impact positions the brand at the forefront of this trend, offering consumers a novel way to express their individuality within the digital realm.
May 13, 2024 : India’s retail inflation rate, as measured by the Consumer Price Index (CPI), is likely to remain stable at around 4.87% for April 2024, according to a median estimate from a poll conducted by Mint. This projection aligns with the March 2024 inflation print of 4.85%.
The poll surveyed 22 economists, and their predictions for April’s Inflation ranged from 4.70% to 5.10%. Notably, only four economists anticipated Inflation exceeding 5%. This suggests a consensus among experts that inflationary pressures in India are currently under control.
The Reserve Bank of India (RBI) has set a target inflation range of 4% with a +/—2% tolerance band. April’s projected inflation rate falls comfortably within this target range, suggesting that the RBI’s monetary policy measures, including interest rate adjustments, might be achieving their intended effect.
While the overall inflation picture appears stable, the poll indicated a potential rise in food and beverage inflation for April. This could be attributed to seasonal factors or disruptions in supply chains. Economists will closely monitor these developments to assess their potential impact on future inflation trends.
The stability of retail Inflation is likely welcomed by the Indian government and consumers alike. High Inflation can erode purchasing power and dampen economic growth. Maintaining Inflation within a manageable range is crucial for fostering a healthy and stable economic environment.
Looking ahead, several factors could influence the trajectory of Inflation in India. These include global commodity prices, potential disruptions in global supply chains due to geopolitical events, and domestic factors like monsoon rains and agricultural output. The RBI will likely continue to monitor these factors and adjust its monetary policy stance as necessary to maintain Inflation within its target range.
The coming months will be crucial in determining whether the current stability in retail Inflation is sustainable. Continued monitoring of economic data and policy pronouncements from the RBI will be essential to better understand the future of Inflation in India.
