In a recent merger with Adents, Microsoft has begun to create a recent product tracking platform employing both blockchain technology and Artificial Intelligence (AI).
The new solution, named Adents NovaTrack, was unveiled at Viva Tech 2018 in France. It provides end-to-end traceability and visibility through an entire supply chain’s point of origin. This will permit the prospective users to trace items within a case. The product was firstly configured for pharmaceutical companies to counter the dissemination of pseudo drugs, but the developers are aiming to forward the project to more lucrative industries.
The said product synergizes different technologies such as Artificial Intelligence (AI), Internet of Things (IoT), serialization functions, along with blockchain technology.
“Our alliance with Microsoft to co-develop Adents NovaTrack will offer game-changing, blockchain-based unit identification for various industries around the world,” said Christope Devins, Adent’s founder and CEO. “Our deep roots and successes in serialization and traceability, enhanced by Microsoft Azure Cloud technology, will provide our clients total transparency all along their supply chains and secure product authenticity for end users.”
Approximately 10 percent of pharmaceutical products that are being distributed globally, as well as another 2.5 percent of imports, are fraudulent, said the US’ Organization for Economic Co-Operation and Development (OECD). With the new software being introduced, the numbers could go down drastically.