Neuromation Partners with Linfinity
In a press release on 17th May, Neuromation announced its partnership with Linfinity. The partnership is expected to strengthen Neuromation’s hold in the Asian market.
According to the terms of the partnership, Neuromation would be processing and analyzing data for Linfinity’s IoT-driven supply chain solutions and blockchain. The company would also be producing synthetic datasets on a large scale for further creation of AI-powered consumer behavior and production management solutions to be used by Linfinity.
The first product from the partnership would be focusing on counterfeits, one of the most notorious problems of Asia. Going by a 2016 joint report by EUIPO and OECD, the market of counterfeit goods accounts for almost half a trillion dollars globally every year. Over 85% of the fakes in the market come from Asia according to the report.
Neuromation says in the press release:
“Counterfeit products are a problem not only for manufacturers and distributors, but for consumers as well. We all pay the price for fake goods. With Neuromation’s expertise in data and AI, and Linfinity’s expertise in blockchain-based supply chain systems, we will provide the technology needed to identify and remove counterfeit goods, at scale.”
The first solution would collect, record, and analyze data present at every link in the chain. Raw material suppliers, carriers, manufacturing facilities, points of sale, distribution centers, and consumers, would all be monitored.
With the product, the two aim to help in the immediate differentiation of the fake products from the authentic ones for all materials and participants. This would also help in increasing the efficiencies throughout the supply chain.
The President of Neuromation Digital Economy, Maxim Prasolov said:
“Our partnership with Linfinity is part of our strategic development of the Asian market. Linfinity’s customer base in China, Korea and Singapore strengthens our position across the region. This project is a prime example of Neuromation’s AI Platform and synthetic datasets solving real-world problems for industry. This is a major driver of demand on the NeuroPlatform and we look forward to working closely with Linfinity”