AI Startup Backed By Bernard Arnault's LVMH Uses AI To Tell You If That Louis Vuitton Bag Is Real Or Fake

A startup backed by the world's second richest person, Bernard Arnault, can detect if that Louis Vuitton bag you have your eyes on is fake or real.

What Happened: Entrupy, backed by LVMH Moet Hennessy Louis Vuitton SE LVMHF, claims that it can detect whether that pre-owned luxury bag you're checking out is fake or real, with an accuracy rate of 99.1%.

Arnault, the CEO of Louis Vuitton, is currently the second richest person in the world with a net worth of $179 billion, according to the Bloomberg Billionaires Index.

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This year, AI's sharp rise in popularity has also led to some consumer-facing solutions being launched, like AI-powered Google Maps that solves a real-world problem for users, showing that this technology is not limited to things used only by a limited set of users or has a novel use case.

Besides, not everyone has the eye to spot fakes regarding luxury items. This is what Entrupy claims to be solving.

"The whole point of doing this is to add trust and make it verifiable as a third party," Vidyuth Srinivasan, Entrupy's co-founder, told Elle in an interview.

"It’s the consumer having the certainty that this is not just [one] person saying that it’s authentic, there’s also a third party that’s not invested in the transaction, certifying it," he added.

For now, Entrupy's solutions are only available to resellers. Its AI tool requires the reseller to capture images of the bag or other luxury items from all angles by inserting a phone into a hardware device from the company.

Entrupy then uses these images to verify the product’s authenticity using AI and an image database of the authentic ones.

The company also issues a certificate based on the results of its tests – resellers can display this along with the product to show customers that the authenticity has been tested.

Why It Matters: This AI solution solves a real-world problem regarding the authenticity of high-value luxury items.

Counterfeit products also hurt the economy. According to a report by the U.S. Chamber of Commerce, counterfeit products cost the global economy over $500 billion a year.

However, Entrupy currently only works with select brands, so if you buy a product that the company has not yet covered, you will have to rely on traditional methods and your discretion.

Image Credits – Shutterstock

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