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AIPLUX AI Technology's Impact in Battle Against Global Counterfeiting: A Highlight of Paris Fashion
Advances in AI technology integrated with intellectual property have made AIPLUX a formidable force in the global flight against counterfeiting, bringing new dynamism to the fashion industry.
By: AIPLUX TECHNOLOGY CO., PTE. LTD.
Counterfeiting remains an incessant thorn in the side of the fashion industry. According to reports by the European Union Intellectual Property Office (EUIPO) and OECD, international trade of counterfeit and pirated products reached $464 billion in 2019, accounting for 2.5% of global trade. These numbers remain consistent with figures from previous years, underscoring the persistent counterfeiting challenge. For the European Union, the challenge intensifies. In 2019, imports of counterfeit goods into the EU were valued at €119 billion ($134 billion), representing a staggering up to 5.8% of EU imports. These figures do not even account for domestically produced counterfeits or pirated digital content online.
The infiltration of counterfeit goods into various industries, ranging from luxury items to daily consumer goods, poses serious hazards to people's health, safety, and the environment. These illegal goods follow complex trade routes, taking advantage of various transit locations, and have origins in several different parts of the world, with economies like China, Hong Kong, Turkey, and the Middle East leading the pack.
In the face of these mounting challenges, designers often hesitate to delve into IP protection, especially when faced with expensive and cumbersome cross-border registration processes. Enter AIPLUX, an APAC-based AI tech company that aims to revolutionize this situation.
This October, AIPLUX has been inducted into the Creative Destruction Lab's AI Paris program, undergoing a year-long market validation process at the prestigious HEC Business School in France. The company proposes an innovative AI-assisted IP registration process online that efficiently processes 90% of the workload within 5 to 10 minutes, resulting in a significant 50% cost reduction. Furthermore, AIPLUX won first place in the High-Level Forum competition held in the France's Silicon Valley, Grenoble and was honored with the "Innovation Ecosystem Awards." AIPLUX emergence will undoubtedly provide new avenues for designers and brands a future where intellectual property rights will be more strongly protected.
More info: https://inpas.aiplux.com/
AIPLUX TECHNOLOGY CO., PTE. LTD.