CARLSBAD, Calif., Jan. 2, 2024 /PRNewswire/ — FACTlix, an AI-powered technology is launched to identify fraudulent consumer reviews. Consumer reviews are a major driver for purchase decisions and the share of fraudulent reviews has become a growing problem over the past decade. 70% of all businesses use consumer reviews in their marketing, and 98% of online shoppers base their purchase decisions on consumer reviews. At the same time, around 12% of all e-commerce revenues are influenced by fraudulent reviews – deceiving consumers in their purchase decisions, giving an unfair competitive advantage to companies that fake reviews and causing reputational harm to others.
Fake reviews are written on both ends; to make one product or service look better – and trick consumers into buying it – or to make another competitive product to look worse. Both result in disadvantages for consumers, giving them the wrong facts to base their purchase decisions on.
With language producing AI like ChatGPT, systematic fraud just became easier. When machines can produce reviews in large numbers, consumers will find it even more difficult to find a reliable source of information for purchase decision.
“Fake reviews are a growing problem for e-commerce. Responsible companies expend significant resources to combat this problem – but still witness a far too high share of fraudulent reviews,” explains Amsety CEO, Mustafa Behan. “FACTlix enables these companies to address the issue with much higher accuracy at a fraction of the current cost.”
FACTlix is based on a decisional AI – identifying and understanding patterns in online content and related cohorts and using these patterns to assess the authenticity of the content in question. FACTlix works with both, fraudulent content generated by humans and machines. Importantly, FACTlix identifies fake reviews before publication, thereby eliminating any potential harm before posting. “With testing involving more than 20 million reviews using 400 million data points, FACTlix has proven to be an accurate and reliable tool in the fight against fake reviews,” continues Behan. A demo version is available at www.factlix.com.
FACTlix was developed by Amsety, a German-American technology company with offices in Berlin and Carlsbad, CA. It is based on an IP-protected technology, with patents underway internationally, developed in Europe to fulfill the strict European laws on review quality and data protection.
Equally, using the FACTlix technology, other consumer generated content, like commentary postings and videos (“deepfakes”) can be tested for validity.
Search engines, marketplaces, and news websites have now the opportunity to increase the credibility of their published content, protect customers from fraudulent reviews, and ensure fair competition between the vendors and advertisers on their platforms, all at a significant cost savings over present technology.
Amsety offers FACTlix as a SaaS (Software as a Service) – as a simple plug-in to be integrated in marketplaces and search engines.
Amsety is a consumer solution driven technology company based in Berlin, Germany and Carlsbad, CA. With an initial focus on Liver Health, Amsety developed both physical products and digital solutions to help consumers. Amsety is pioneering AI developments in digital health – it presented one of the first AI solutions at the AASLD Liver Meeting in Boston. In 2018, Amsety and its founder received the Entrepreneur of the Year Award by the Carlsbad Chamber of Commerce.