TMCnet Feature
October 07, 2022

How Technology is Influencing the Diamond Industry

By leveraging technology for efficiency, the diamond industry has achieved a lot in recent years. From the production of lab-grown diamonds to the influence on the way the sellers market them, technology has had a wide-ranging impact on the industry. 

Learn more about the various ways in which technology is benefiting the diamond industry.

1. Lab-Grown Diamonds

Lab-grown diamonds have gained popularity among their consumers. They feature the same chemical and physical properties as natural ones. 

Naturally occurring diamonds are created over a long time under natural conditions. By incorporating technology into the industry, diamonds are grown in 'growing greenhouses,' which mimic the same conditions as the ones beneath the Earth's surface. 

Young couples nowadays prefer lab grown diamond engagement rings. This is because they're less expensive, conflict-free, and environmentally friendly. 

2.3D-Printed Jewelry

Consumers are looking for tailor-made options that reflect their identity as jewelry becomes more personal. Through 3D printing technology, you can carve a stone to suit the customer's needs. With a slew of advantages for both jewelers and consumers and a slew of new players entering the market, 3D-printed jewelry could take the market by storm.

3. RFID for Inventory Management

Many jewelers have now implemented Radio Frequency Identification (RFID) to manage the inventory of their diamonds. Through RFID, when diamonds and jewelry are out on the market, the management can track them from production to the point of sale. 

This RFID helps to reduce human errors and time wastage.

4. Apps for Investments

Incorporating technology into the diamond sector has allowed for the development of apps and software that enable consumers to invest in the industry. These apps are designed to offer the consumer first-hand information about the business. They also allow the consumer to make informed decisions about the investment by stating the facts about: 

  • The grading system
  • Prices in the market
  • Rates as per the time of interest
  • Risks at hand

This technology has made it quite simple for those interested to venture without filling out a lot of paperwork.

5. E-Commerce

Online shopping in the diamond jewelry business is snowballing. Advanced technology has enabled e-commerce to thrive. 

With 3D viewing for showcasing pieces, consumers can have a 360 view of a product even if they are not physically in a store before purchasing it. This new way of viewing diamonds before purchasing them shows that technology has had its hand in the sector. 

This technology has made it easy for people to buy a product from a different continent, which is shipped directly to their doorstep. It helps save time that you would have used to travel for the purchase.

6. Hauling Truck Technology for Diamond Mining

Mining diamonds isn't easy work and has long been a source of conflict. The new technology of remote-controlled hauling trucks was introduced to the industry to reduce the amount of hard work. 

These trucks make the entire mining process simple. This could mean a brighter future for those in the field. 

7. Seismic Reflection Technology with High Frequency

This technology investigates the possibility of diamonds beneath the Earth's crust. Before beginning diamond mining, it is critical to determine whether the areas contain these gems. Magnetic surveying was an earlier technology that people used widely in the past. However, this procedure results in false detection. 

A new and advanced seismic reflection technology is about to address this. This technology is now commonly used in diamond exploration.

Take Advantage of Progress 

The diamond industry appears to be at the pinnacle of its development. Now, you can take advantage of this progress and find the perfect price and sourcing for your jewelry. Discover how your shopping experience can be better than ever. 

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