Hong Kong retailer Chow Tai Fook has partnered with Goldway Technology Ltd to develop a new diamond grading certificate using artificial intelligence (AI) and blockchain technology.
According to Chow Tai Fook, the AI Diamond Grading Certificate will provide customers with consistent and accurate diamond grading standards in addition to the assurance of natural diamond quality.
Chow Tai Fook uses AI and big data to analyze diamond color and clarity. Results will be presented as numeric values, helping customers better understand rankings while minimizing the risk of human error.
AI technology developed by Goldway Technology Ltd has won 6 international patents on system design, operating procedures and AI analysis. It provides a highly controlled classification environment and stable analytical performance. This process takes just a few minutes, improving the cost-effectiveness of diamond grading.
Initially, this grading service will be applied to T MARK diamonds (0.30 carats and below) in Hong Kong in the first half of 2021.
Bobby Liu, CEO of Chow Tai Fook Jewelry Group, commented: “The Chow Tai Fook AI Diamond Grading Certificate is securely written on the blockchain and fully integrated into the CHOW TAI FOOK T MARK app , allowing customers to access both their diamond grading and traceability information through a single digital platform. ”