AI helps diamond industry guarantee your engagement ring is perfect
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This Valentine's Day, many couples are planning engagements and consumers are buying diamond jewelry -- more so than at any other time of the year.
But consumers are concerned that they are getting the best diamond in terms of quality when they commit to their partner.
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Sarnen, Switzerland-based online diamond advisory website The Diamond Pro surveyed a representative of 1,000 US adults to find out what concerned them about buying diamonds.
The survey shows that overpaying, being taken advantage of and not getting a high-quality diamond are top concerns consumers face when shopping for a diamond.
Consumers in general do not feel confident with key aspects of the diamond buying process. Almost two out of three (61 percent) of people reported that they are not confident they could spot flaws in a diamond.
Two-in-three people agree AI could make the process of purchasing diamonds online easier.
Over three-out-of-five (61 percent) respondents would be more likely to buy a diamond online if AI guaranteed better value, and 62 percent agree AI would assure them they are getting the best diamond for their dollar. Almost two out of three (65 percent) agree that AI can make the process of online shopping easier.
The Diamond Pro uses an AI tool, Ringo, which uses patent pending AI technology. This technology is is able to identify 'eye-clean' diamonds for consumers based upon their budgetary and stylistic preferences.
The AI technology can spot inclusions -- a particle or flaw visible to the naked eye. When inclusions or flaws are not visible to the naked eye, a diamond is considered eye-clean.
Ringo's AI model is trained to use human-like visual perception to determine if each diamond is eye-clean, once the diamond is placed in a ring setting of the buyer's choice.
This was accomplished by running several thousand eye-clean or not-eye-clean decisions by The Diamond Pros through Ringo's AI engine.
Ira Weissman, founder of The Diamond Pro said: "AI tools, like Ringo, identify quality diamonds for consumers unfamiliar with the diamond industry. As AI becomes more mainstream in helping humans make important decisions, it was only a matter of time before the diamond industry implemented this type of powerful technology."
The landscape of the consumer diamond industry is changing as more consumers trust AI to take the place of human guidance. It is comforting to know that AI can be used to identify flaws in a diamond and put consumer minds at ease.
If only the same could be said about relationships. Happy Valentine's Day.