Wed. Nov 6th, 2024

The rise of digital commerce has fundamentally changed the way consumers purchase products. But with these new conveniences comes a significant downside—counterfeiting. The sale of fake goods, which accounts for roughly 2.5% of global trade, is now easier than ever, thanks to online marketplaces and the sophistication of counterfeit operations. Cybersecurity has a pivotal role to play in tackling this issue, and emerging technologies like AI and blockchain are leading the charge.

One company, Acviss Technologies, has been at the forefront of this revolution. Founded in 2016, Acviss recognized early on that traditional anti-counterfeiting methods were not enough to combat the increasingly organized counterfeit industry. By integrating AI-powered brand protection solutions and blockchain-enabled tracking systems, Acviss has created a comprehensive approach that secures products from the point of manufacture to the hands of the consumer.

Understanding the Threat

Counterfeit goods can be anything from fake designer handbags to dangerous counterfeit pharmaceuticals. The latter, in particular, poses a significant threat to global health, as people unknowingly consume fake medicines that don’t meet regulatory standards. In 2017, it was reported that over 1 million people die annually due to counterfeit drugs. With such staggering numbers, it is clear that the traditional ways of handling counterfeit products are no longer effective.

This is where AI and blockchain come in as game-changers. Acviss Technologies offers real-time product verification through secure, non-replicable QR codes that allow consumers to instantly authenticate products using their smartphones. These non-clonable codes, paired with AI-driven verification systems, ensure that counterfeiters are unable to replicate the security features.

Additionally, Acviss leverages blockchain technology to provide brands with track and trace capabilities. Every step of the supply chain is logged onto an immutable blockchain ledger, making it impossible for counterfeit goods to enter the market unnoticed. This transparency allows businesses to identify vulnerabilities in real-time and shut down counterfeit operations before they reach the consumer.

The Power of AI

Artificial intelligence has transformed many industries and anti-counterfeiting is no exception. With AI, brands can track suspicious patterns and detect counterfeit attempts before they cause damage. Acviss has integrated AI into its anti-counterfeiting solutions, allowing businesses to analyze patterns across their supply chains and flag suspicious activity that could indicate the presence of counterfeit goods.

One example is in product returns. Counterfeit goods often find their way into legitimate return channels, where fake products are “returned” in place of real ones. AI can identify discrepancies in return patterns, allowing brands to catch counterfeit goods before they are resold or distributed.

Additionally, AI helps analyze consumer engagement. When customers verify a product through Acviss’s QR code technology, the data is collected and analyzed, providing brands with insights into how their products are being consumed and where potential threats may arise.

The Role of Blockchain in Securing the Supply Chain

While AI enhances detection, blockchain ensures transparency and traceability. Blockchain technology, with its decentralized and immutable nature, offers a solution to one of the biggest issues in supply chain security—transparency. Each time a product moves through the supply chain, its details are logged onto the blockchain, ensuring that every step is tracked and can be verified by both the brand and the consumer.

Acviss’s blockchain-powered track and trace solutions ensure that brands have a full view of where their products are at every stage. This transparency is crucial, especially in industries like pharmaceuticals and electronics, where counterfeit goods can cause significant harm.

By Syler