UNI Diamonds introduced an AI-powered diamond price calculator app
That enables its users to quickly and conveniently obtain an up-to-date price estimate for a diamond. It is based on the stone’s 4Cs (Carat, Cut, Colour, and Clarity). Furthermore, it is taking into consideration other factors such as fluorescence, polished grade, and the laboratory issuing its grading power.
The uniqueness of UNI Diamond Price Calculator
Alexander Zaidelson, Chief Product and Data Officer of UNI explained that UNI Diamond Price Calculator provides an estimate that it is not based upon a static price list, but rather on UNI’s unique Artificial Intelligence-powered pricing model, which can accurately estimate prices of natural polished diamonds in real-time, using data stored in the company’s vast and continuously growing inventory of goods. He further stated, “ it employs a dynamic combination of state-of-the-art AI algorithms, trained on actual diamond prices and sales data collected by UNI.”
In addition to the price estimate provided by the AI, the Calculator also consults the UNI inventory to show real-time information on average, minimum, and maximum prices of diamonds, according to given search criteria. Diamond industry professionals can download and use the Diamond Price Calculator app completely free of charge.
Mahiar Borhanjoo, CEO of UNI noted “what sets natural polished diamonds apart from other commodities is that every individual stone provides a unique set of characteristics, each of which influences its asking price.” He said further,
“to date, members of the industry have calculated prices using complicated price lists, which are supposed to take these elements into account, but they are only updated periodically, and their sources of market data are opaque at best. Thus developed a system by which dealers typically discount the prices on the price list, leaping faith each time that they do.