Tiki uses AI technologies to control product prices, quality in its marketplace

Wednesday, Apr 08, 2020 14:38

E-commercial platform Tiki has used AI-based technologies and carried out strict audit on the marketplace to control product prices and quality. — Photo courtesy of Tiki

E-commerce platform Tiki uses AI-based technologies and conducts stringent marketplace audits to control product prices and quality and prevent hoarding amid the COVID-19 pandemic.

Following Prime Minister Nguyen Xuan Phuc's call for social distancing for 15 days, online shopping has become arguably one of the safest and most convenient means for daily shopping.

With their popularity spiking, some e-commerce marketplaces saw prices increase and product quality become a concern, Tiki said in a newsletter.

Tiki utilises a technology that scores every offer, when an item is offered by multiple sellers, using AI-based regression models that consider various factors such as price competitiveness, speed of delivery, return and cancellation trends of the seller, and proximity of stock from customer’s location.

Besides, Tiki routinely audits its marketplace to ensure the quality of products remains consistent.

As of Feb 19 Tiki detected and resolved 34 cases of price gouging on its marketplace. Thanks to its tough penalties, it said, there have been no more instances since then.

It cited statistics from the E-commerce and Digital Economy Department showing that nearly 16,200 sellers on e-commerce platforms have indulged in price gouging. VNS

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