The global trade in counterfeit goods is staggering, with estimates ranging from $1.7 trillion to $4.5 trillion annually. Combine this with the $120 billion secondary market in fashion and accessories, and the critical need for authentication to protect brands and consumers becomes evident to all involved.
In a recent development, Entrupy, an artificial intelligence-powered authenticator, was announced as the chosen authentication provider for pre-owned luxury handbags on TikTok Shop in the United States. Utilizing a blend of AI and microscopy, Entrupy offers a unique solution to assess the authenticity of luxury items. When an item is scanned using the proprietary device and app, a series of microscopic images are captured. Subsequently, machine learning algorithms compare these images against a database containing millions of records of known authentic and counterfeit products.
Continue reading… “AI and Blockchain Technologies Revolutionize Authentication in the Luxury Market”
