Entrupy uses artificial intelligence to verify the authenticity of used luxury products and ensure that customers are purchasing genuine products.
The company, founded in 2012, said that as of December 2020, hundreds of brick-and-mortar retailers were using its technology to verify the authenticity of handbags and sneakers.
Interest in this tool will likely continue to grow as companies look to capitalize on interest in AI.
The technology is currently available to luxury retailers, with Entrupy claiming its tools can verify the authenticity of products from luxury brands such as Balenciaga, Burberry, Gucci and Louis Vuitton.
Using artificial intelligence may be a way for luxury retailers to build trust with customers who are wary of buying counterfeits.
“The main goal is to increase trust and make it verifiable,” said Vidyuth Srinivasan, co-founder and CEO of Entrupy.
The service received renewed attention last October when TikTok announced that it would work with Entrupy to determine whether products on its new e-commerce platform TikTok Shop were counterfeit.
This partnership comes at a time when productivity AI tools like OpenAI's ChatGPT are taking the world by storm.
Once users place their smartphone in the Entrupy device, they take photos of the product from every possible angle to use verification tools based on new technologies.
The device includes a microscopic lens that the company says can zoom in on the phone's camera to capture precise images of features such as product designer nameplates and product materials.
An AI algorithm is then used to send the image to a database containing millions of original product images.
Entrupy can determine if a product is authentic in just minutes and claims to have 99.1% accuracy.
Entrupy creates an official certificate that retailers can use to prove if a product is authentic. The company said it could only verify luxury products from major brands due to the risk of widespread fraud.
It's worth noting that Entrupy's validation tool isn't the only AI device getting attention this year: In September, Meta launched a second version of its Ray-Ban Meta smart glasses, letting users learn about built-in AI assistants that can communicate . .
Two months later, Humane.ai launched a device that uses light to display information in the palm of a user's hand.