Alchemist is a technology that utilizes a pre-trained text-to-image model and synthesized data to allow users to edit the material properties of objects in images. It achieves parameterized control over specific material properties, such as roughness, metallicity, base color saturation, and transparency, through fine-tuning on synthesized datasets. The main advantages of this technology include the ability to alter object properties while maintaining the geometric shape and lighting of the image, and even realistically filling in backgrounds, hidden internal structures, and refraction effects when objects become transparent.