Fakespot Analyzes Over 3 Billion Online Reviews And Launches New AI Engine

Artificial Intelligence backed data authentication platform Fakespot announced it has surpassed 3 billion reviews analyzed, up 50% from the end of 2017.

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The company also recently launched new search engines for Best Buy, Walmart, Sephora, and Steam helping users stay informed by detecting fake reviews and counterfeit products before commiting to a purchase.

Fakespot also supports Amazon, TripAdvisor, and Yelp. Fakespot provides online shoppers with a new way of filtering reviews on Amazon, Yelp, TripAdvisor, Walmart, Sephora, Steam, and Best Buy.

Using artificial intelligence, Fakespot’s proprietary platform eliminates fake and unreliable information and provides consumers with valuable insights from the  authentic reviews that helps them assess the true quality of a product or service.

“Some of the biggest companies in the world are in danger of losing the trust of consumers. When it comes to eCommerce, marketers and advertisers know no boundaries, publishing fake reviews to sway consumers’ purchasing decisions. With Fakespots rapid growth and reach, we hope to change this narrative and bring integrity back to customer reviews.”

Saoud Khalifah, CEO of Fakespot

Impact Of Reviews

With thousands of items to choose from when shopping online, a positive or negative review can have a huge impact on whether or not a purchase is made.

Research shows that 91% of people regularly or occasionally read online reviews, and 84% trust online reviews as much as personal recommendations.

And they make that decision quickly, with nearly 93% of searches never going past the first page and 68% form an opinion after reading between one and six online reviews.

As a result, many eCommerce retailers have resorted to using different types of unreliable reviews (fake and promotional) to help gain visibility and convert sales, but often leave their customers feeling deceived.

In addition to deception, a recent report from the Government Accountability Office revealed that products purchased from third-party sellers on Walmart, Amazon, and Ebay could be counterfeit and harmful to your health.

The report also claimed that counterfeit iPhone adapters can pose a risk of lethal electrocution, counterfeit travel mugs can include higher lead concentrations, and counterfeit cosmetics contain substances such as cyanide, mercury, and rat droppings.

Third-party sellers also advertised counterfeit items shipping from the US as new and name-brand, and had average customer ratings above 90%, making it hard for customers to discern.

Over the last two years, Amazon customers reported 5,101 counterfeit products and according to the Global Brand Counterfeiting Report, losses from eCommerce shams alone totaled $323 billion last year.

Ultimately, if eCommerce giants don’t want counterfeit goods to become a widespread health issue, they’ll need to accept responsibility and be more transparent.

To date, Fakespot supports seven eCommerce sites and has analyzed over 3 billion reviews, making them the most trusted platform  for detecting fraudulent product reviews on the internet.

Fakespot’s expansion to support the largest online retailers and marketplaces in the world means increased customer awareness against the exploitative tactics of third-party resellers and unscrupulous businesses.

READ MORE: SMB’s Bombarded with Fake Reviews

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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.

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