Safety of branded and luxury items has become a major concern for businesses in the recent decade. Big brands are investing immense money on establishing online stores, organizing marketing campaigns and doing all the operation enhancements forecasting the revenue generation. E-commerce websites today have become open marketplaces helping online retailers expand their range of product offerings and attract more shoppers.
Reported in The Global Brand Counterfeiting Report 2018, in 2017, online counterfeiting was expected to have losses of USD 30.3 billion in the high-end consumer goods sector.
The benefit of Artificial Intelligence over a traditional method of counterfeit-detection is that it keeps a check on the traditional methods tend to be disturbing and sometimes damage the original products. The counterfeit of the products has become the major problem in an online marketplace, the consumer and the original brand manufacturer.
How Artificial Intelligence is doing it
AI proved to be valuable for brand’s logos that can be recognized by AI computer vision and image analysis. After the involvement of AI, this technology has been adopted in some new web services and solutions.
With the development of artificial intelligence(AI), retailers can recognize the logo or other signature graphics from the product pictures.
With this technological advancement, brand owners and banks can evaluate and upgrade their monitoring tools so as to better protect their businesses. Therefore, AI helps the retailers and wholesalers to get aware of the items that they are vending are real or counterfeit. AI in brand safety and counterfeit detection is all about to determine the authenticity of the original products and to create the high economic potential for the businesses.
Using AI to detect counterfeit products
When it comes abouthe sale of counterfeit products like watches, footwear, handbags, perfumes and more. it is offering space for merchants to sell counterfeits as an original product.
But, AI enabled solutions and services for online brand recognition has become a barrier for the counterfeit sellers. AI empowered image recognition is a trend in the market for brand protection, marketing, security, and many other situations.
New web AI tools for vendors will the online counterfeit sellers and helps to determine the authenticity of the brand recognition. Therefore, Artificial intelligence is the best way to create a filter on the free ride of the counterfeit sellers.
Therefore, it is a new way to develop platforms for the brands and their businesses to have conversion online following the development of the digital economy.
Beware of frauds
Online e-commerce has become thebig pool for investors and businesses to invest in the online advertisement. This offers fraudsters an attractive opportunity to take the leap.
The industry is worried about the technically strong frauds which have become a challenge for the advertisers when it comes about the counterfeit traps.
- There is fake/bot activity sold as a human activity that includes indirect clicks which have created a window for the frauds to trap the users.
- There are fake domains bluffing users with a cloaked URL that appears as a genuine website of any renowned brands.
- Hidden ads are one of the major issues that load behind other content of the main page of the website.
The presence of counterfeits today in the market due to the online marketplace model itself. Third-party merchants can replicate original product listing pages without hassle fewer efforts.
Advance AI empowered solutions and services can spot inconsistencies activities which are key indicators of doubtful product listings. This also helps brands to visualize the best opportunity to detect possible counterfeits.
AI is helping in tracking instances of counterfeits by consistently blacklisting defaulting merchants over time to time. Therefore, brands can directly approach a defaulting merchant to solve the counterfeit problem. With this approach, brands can address the issue of counterfeits at a massive scale by covering any number of online marketplaces.
Brands can compare the product listing with the original product images and descriptions to identify anomalies via AI enabled solutions or tools. This can result in a huge leap for businesses with respect to the revenue.
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