Liv-ex has launched its latest artificial intelligence tool for the fine wine trade – Wine Matcher.

The machine learning tool has already been awarded the prize for ‘Best Supply Chain Initiaive’ at this year’s DB Awards.

Wine Matcher is designed to help merchants quickly and easily work through wine lists in order to determine prices, find trading opportunities and move stock through the supply chain.

It works by taking a list and transforming the wine names and formats into a unique ID using Liv-ex’s ‘LWIN’ system. These numbers can then be shared with other systems, used to download price data from Liv-ex or put into a database for comparison.

Able to process 5,000 lines of data a minute, Wine Matcher is designed to save merchants weeks of time-consuming work, making valuation and trade more efficient and more accurate.

Liv-ex has used Wine Matcher to standardise its library of over 50 million records collated over the last 15 years. It is this collection which gave Wine Matcher its initial intelligence and it is currently employed matching 45,000 lines of data a day. The tool will be available to internet users through the cloud as it is powered by Amazon web services.

James Miles, managing director of Liv-ex commented: “Reading, preparing, pricing and deciphering long lists of wines is a fundamental part of a fine wine merchant’s job. It is very time consuming and not always the most enjoyable part of the role!

Read more at source The Drinks Business