This week, I checked in on AI-powered fragrance startup Osmo’s decision to auction off its patented fragrance molecules. Additionally, Estée Lauder invests in its North American fragrance portfolio, and a new SPF filter receives FDA approval for the first time in decades.
On Monday, the World Perfumery Congress will kick off in Monterey, California, where executives and founders from the likes of Interparfums and Snif will gather to discuss the latest and greatest in fragrance. This year, that includes the fragrance startup Osmo, which will auction off 10 of its patented fragrance molecules on June 23.
Those fragrance molecules were all developed using Osmo’s proprietary artificial intelligence, which the company calls olfactory intelligence. According to Osmo CEO Alex Wiltschko, the company’s use of AI has enabled it to evaluate the commercial potential of billions of scent molecules.
“I think part of why this is possible is because AI is truly transforming the world. Now it is transforming fragrance ingredient discovery,” said Wiltschko. “The broader thread for the industry is, I think, everyone deserves more innovation in fragrance technology. And this is one of the ways in which we’re trying to really rapidly increase the pace of innovation and make it available to all.”
