Download Free Audio of A house burns down due to a counterfeit electrical... - Woord

Read Aloud the Text Content

This audio was created by Woord's Text to Speech service by content creators from all around the world.


Text Content or SSML code:

A house burns down due to a counterfeit electrical transformer, causing loss of lives and property: severe poisoning and cancer from fake products. Counterfeits repel consumers and investors. Counterfeit goods threaten health, safety, and market trust, putting the economy at risk. Globally, counterfeit sales are estimated at $1.7 to $4.5 trillion annually, with 5% of all goods in the EU being fake. Despite stringent efforts, counterfeits still infiltrate the market, costing Saudi Arabia 40 billion SAR in 2012 alone. Saudi Arabia aims for the lowest infiltration rate globally and welcomes solutions to reduce this threat. Raqeeb provides an advanced AI-powered inventory and tracking system to protect the Saudi market from counterfeit goods, ensuring consumer and investor confidence. Raqeeb logs every product's quantity and code, tracing them from entry into the market until they reach the consumer. It continuously monitors all products with AI, analyzing data to detect abnormal patterns seamlessly. If an unauthorized product attempts to enter the market, Raqeeb flags it and identifies the location for inspection and questioning. This ensures only authentic products reach consumers, enhancing market integrity and trust. Raqeeb offers significant benefits to multiple stakeholders: 1. Economy: Raqeeb boosts investor confidence, attracting local and international investments by ensuring product rights protection in the Saudi market. 2. Government: Raqeeb provides powerful market control, enhancing government monitoring capabilities to the highest performance levels. 3. Producers and Traders: Raqeeb safeguards against substantial losses by protecting them from counterfeit goods. 4. Consumers: Raqeeb ensures consumers can trust the authenticity of their purchases, enhancing overall market confidence.