The platform allows brands to automatically detect and remove infringing listings from global online marketplaces deeply infiltrated by counterfeiters, such as Amazon, eBay, and Taobao. With this launch, says the company, it takes a major step towards fulfilling its mission of modernizing companies' fight against online frauds and thereby rendering the ecommerce supply chain more transparent.
"The counterfeit market is currently a $1.7 trillion industry, which makes it the largest criminal industry in the world," says MarqVision CEO and co-founder Mark Lee. "We have pioneered a technology-driven way to solve this serious problem using artificial intelligence. Our beta clients have experienced a 30-fold efficiency increase in their anti-counterfeiting efforts."
Traditionally, anti-counterfeiting solutions involves IP specialists' manually searching for infringements and doing the paperwork required to remove them. However, with its platform, says the company, brands can save a considerable amount of time and money by automating the repetitive chores involved in detecting and reporting counterfeits.
The platform uses a deep-learning-based image recognition model that scans through millions of product listings and finds listings with images containing products that look similar to the legitimate brand's products. Its machine learning model then detects infringements among those listings based on information such as price, product description, and customer reviews. Finally, the platform's bot-powered reporting system automatically files take-down requests for those listings that the legitimate brand owner confirms as infringements.
With its platform, says the company, brands can efficiently protect their sales and reputation from IP infringers. First, it allows brands to regain sales revenue that have been hijacked by counterfeit and knock-off sellers. It also helps brands protect their reputation from negative reviews and restore customers' trust. And thanks to AI-powered automation technology, brands can enjoy these benefits with significantly greater efficiency.
The company says it first embarked on its fight against online frauds by focusing on the buyer fraud problem. But after realizing the gravity and extensiveness of the seller fraud