During Valentine’s Day, many couples plan their engagements to exchange pre-nuptial vows and consumers purchase more diamond jewelry compared to any other time of the year. But buyers are often concerned that they are not getting the best diamond in terms of quality before they exchange nuptial vows. A popular diamond advisory corporation surveyed a representative of 1,000 US adults to find out what bothered them about buying diamonds.
The survey shows that high prices, being taken advantage of and not getting a good-quality diamond are top concerns faced by buyers during diamond purchases.
Consumers generally do not feel confident with certain aspects of the diamond purchase process. Almost two out of three (close to 61 percent) of buyers reported that they are not convinced that they would be purchasing flawless diamonds.
Two-out-of-three people agree that Artificial Intelligence could make the process of purchasing diamonds easier. Over three-out-of-five (close to 61 percent) respondents are more likely to purchase a diamond online if Artificial Intelligence guaranteed better value proposition, and 62 percent agree AI would guarantee quality assurance against the dollar spent on the purchase. Almost two-in-three (close to 65 percent) agree that AI can simplify the process of diamond gemstone and jewelry purchase to a great extent!
AI tools use patent-pending AI technology. This technology can identify ‘eye-clean’ diamonds for buyers based upon their preferred budget and style. The AI technology can identify inclusions – a particle or flaw which is visible to the probing naked eye. When the inclusions or flaws are not detectable by the naked eye, a diamond is coined as eye-clean.
The AI-based model is meticulously trained to apply human-like visual perception to monitor and identify if each diamond is eye-clean after it is put on a ring setting of the buyer’s choice.
The scenery of the consumer diamond industry is rapidly evolving as more consumers are putting their trust in AI to replace human guidance. It is a tremendous achievement for the Artificial Intelligence evangelists to come up with a solution to identify flawed diamonds with ease. The process will enhance trust and build a value-based supply chain for the entire diamond ecosystem.