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The global perfume market is expected to reach a value of $101.3 billion by 2033, largely due to the growth of AI technologies in the fragrance industry. Companies like Givaudan and Firmenich are investing in the AI space, while startups are offering consumers AI-created scent interpretations of images, or customizable scent options. Osmo CEO, a leader in digital olfaction, believes the missing link in smell has been the lack of a map, like RGB for color or low to high frequencies for sound.