00:00Authentication has long been a challenge for the RealReal.
00:03In 2018, Chanel sued the company for selling counterfeit Chanel products.
00:08And a few years later, the RealReal settled a class-action lawsuit
00:11accusing the company of using under-trained staff to help meet high authentication quotas.
00:17Today, the RealReal's AI-powered intake system, Athena,
00:21helps workers price and authenticate SKUs in seconds.
00:24The company plans for Athena to process half of all new items by the end of 2026,
00:29up from about 20% a year earlier.
00:32We've actually built proprietary technology for our gemologists, our watchmakers,
00:37our handbag experts to count the melee on every stone, the weight of our diamonds.
00:43It utilizes a highly magnified camera to help us take a high-resolution picture.
00:48And it's able to come up with the carat weight in a moment, just one or two seconds.
00:53And so now, actually, our humans don't need to so much look at that.
00:57They're going to be focusing more on grading the actual diamond, which is where their expertise lies.
01:02Does this speed up the process? Does it make it more accurate or both?
01:06It's both. It adds consistency, of course, and speeds up the process where we can process items much faster
01:12for the consignor so it gets on the site faster, but also the technology behind the scenes,
01:18making sure that each individual item is authentic, but also that the consigner is valid, too.
01:25We'll see you in the next video.
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