Fintech friday: Art Recognition – AI for art authentication
Dr. Carina Popovici, CEO & Co-Founder, shared with Efma’s Boris Plantier her company’s achievements in using AI in the service of objective art verification.
What led to the creation of Art Recognition?
The idea emerged from discussions with an art historian, who pointed us to news stories in art newspapers as well as mainstream media about well-known forgery cases. An example is the famous forger Wolfgang Beltracchi who was arrested in 2014, after deceiving the art world for decades by selling forgeries produced by himself. Meanwhile we know that authorities warn that at least the half of artwork on the market are fakes or at least misattributions.
My partner and I saw this situation as an opportunity to develop a technological product which can help art professionals become more efficient in their work, but also offer assistance to art lovers and collectors who wish to have an additional layer of protection when buying or selling a piece of art.
Could you present Art Recognition's offer?
Art Recognition offers to the art world an AI system for art authentication and forgery detection. The service is very simple to use and can be accessed worldwide. The client just needs to upload a photograph of their artwork onto our secure platform. Within a few weeks, the client receives a technical report containing the algorithm’s assessment (authentic/not authentic) along with other information relevant to the analysis. A sample report can be downloaded from our website free of charge. An analysis normally costs between 1,000 CHF and 10,000 CHF, but we also offer deals and packages.
Our system is not meant to replace art experts. It would not even be possible to replace their experience, often acquired over decades. Rather, our service is meant to support and complement their work in a completely neutral and objective fashion. Auction houses, galleries, and collectors can use our AI as a quick and efficient initial filter with little effort and minimal costs.
What's coming next for Art Recognition?
Last summer we launched a major project founded by the European Union to upgrade our system and methodology. Within this framework, we plan to publish a scientific article in a peer reviewed journal and start using the improved algorithm for business assignments, in order to serve our clients even faster and more efficiently.
We also plan to embark on new projects in collaboration with art experts, for example by tackling notoriously difficult artists such as Modigliani.
On the business side, we have recently started collaborating with marketing professionals to further popularize the brand of Art Recognition. Last but not least, we continue to expand our client base while making plans to open offices outside of Europe after the end of the pandemic.