From the original post on PRWeb
https://www.prweb.com/releases/revolutionary-ai-and-blockchain-integration-enhances-anti-counterfeiting-measures-for-global-brands-302140866.html
REDWOOD CITY, Calif., May 13, 2024 /PRNewswire-PRWeb/ — iTRACE Technologies, Inc., a leader in securing global supply chains against counterfeiting, today unveiled a major upgrade to its iTRACE 2DMI® technology, integrating artificial intelligence (AI) with the existing blockchain connectivity to offer unparalleled protection for brands and consumers.
Across industries, counterfeiting undermines revenue, damages brand reputation, and poses risks to consumer safety. iTRACE 2DMI®, known for its robust anti-counterfeiting measures, now incorporates AI to improve the detection of counterfeit products and blockchain technology to ensure secure, transparent authentication processes.
Enhanced Features for Robust Protection
The newly enhanced iTRACE 2DMI® introduces:
- AI-Powered Detection: The system now uses advanced AI algorithms to quickly and accurately identify counterfeit and cloned products. This enhancement allows businesses to authenticate products and packaging swiftly, ensuring that counterfeits are rapidly identified and removed from the supply chain.
- Blockchain-Enabled Security: By integrating the optional blockchain technology, iTRACE 2DMI® ensures that each authentication record is immutable and transparent. This secure connectivity provides businesses with a verifiable trail of product movement, enhancing trust and integrity in supply chain operations.
- Mobile Accessibility: The user-friendly mobile app allows users to authenticate products with a simple scan of iTRACE 2DMI® Marks. This instant verification process makes it easier for businesses and consumers alike to confirm product authenticity and detect fraudulent replicas.
- Support for High-Security Applications: iTRACE 2DMI® is designed to meet the stringent requirements of high-security sectors, including electronics, luxury goods, medtech, pharma, automotive, and aerospace, providing versatile and reliable protection across various industries.
Industry Impact and Expert Perspectives
“The integration of AI and blockchain into our iTRACE 2DMI® technology represents a significant leap forward in the fight against counterfeiting,” said Mark Manning, Founder and CEO of iTRACE Technologies, Inc. “These enhancements not only improve the security and efficiency of our anti-counterfeiting measures but also provide our clients with the tools they need to protect their products and consumers more effectively than ever before.”
As global supply chains become more complex and susceptible to fraud, the need for advanced solutions like iTRACE 2DMI® has never been greater. The economic impact of counterfeiting is profound, with the Global Brand Counterfeiting Report estimating losses to brands and consumers running into hundreds of billions annually.
Broader Implications and Future Directions
This development is particularly timely, given the increasing reliance on digital solutions to secure supply chains amid global trade uncertainties and the rise in online shopping. The use of AI and blockchain in iTRACE 2DMI® not only sets a new standard for anti-counterfeiting technology but also reflects broader trends towards integrating these technologies in everyday business practices to ensure transparency and security.
iTRACE Technologies continues to lead the way in innovative solutions for brand protection, and with the enhanced iTRACE 2DMI®, the company is well-positioned to help businesses around the world safeguard their products and maintain the integrity of their brands.
