MarqVision launches AI-powered platform to protect brands from counterfeits
Published by : Industrial Automation
Harvard-incubated startup introduces an AI-powered brand protection platform.
Boston, September 2020 – MarqVision, an AI-based SaaS company, recently launched its brand protection platform that helps brands effortlessly detect and remove counterfeits on online marketplaces. With this launch, the company takes a major step towards fulfilling its mission of modernising companies' fight against online frauds and thereby rendering the ecommerce supply chain more transparent.
MarqVision allows brands to automatically detect and remove infringing listings from global online marketplaces deeply infiltrated by counterfeiters, such as Amazon, eBay, and Taobao. MarqVision's deep-learning-based image recognition model 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, MarqVision's bot-powered reporting system automatically files take-down requests for those listings that the legitimate brand owner confirms as infringements.
With MarqVision, 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 knockoff sellers. It also helps brands protect their reputation from negative reviews and restore customers' trust. And thanks to MarqVision's AI-powered automation technology, brands can enjoy these benefits with significantly greater efficiency. The traditional anti-counterfeiting solution involves IP specialists' manually searching for infringements and doing the paperwork required to remove them. With MarqVision, however, brands can save a considerable amount of time and money by automating the repetitive chores involved in detecting and reporting counterfeits.
"The counterfeit market is currently a $1.7 trillion industry, which makes it the largest criminal industry in the world," said 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."
MarqVision embarked on its fight against online frauds by first focusing on the buyer fraud problem. But after realizing the gravity and extensiveness of the seller fraud problem, the startup switched gears to take on the challenge of modernizing the way brands have fought counterfeit sellers.