T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID) (dba Trust Stamp) announced it has received a notice of allowance and a notice of issuance from the US Patent Office for two patents to add to its portfolio of AI-powered identity services.
The company said in a statement that the patents, both titled 'Systems and Processes for Lossy Biometric Representation' will be the 18th and 19th issued to the company.
In addition, it has a further 12 patent applications awaiting consideration.
“These patents further expand our intellectual property portfolio related to the tokenization of biometric data and broaden our patent coverage,” Trust Stamp chief scientific officer Dr Norman Poh said in a statement.
“Patent #32742-1491643 is particularly interesting in the context of the current debate over the appropriate role of AI in consumer-facing applications as it removes the necessity to use a neural network in our irreversible transformation process.”
Poh noted that regulators, consumers and enterprises are becoming very aware of the risks associated with AI decisioning tools as well as storing biometric images and templates.
“This optional adaptation of our proprietary tokenization technology avoids all of those risks while maintaining and indeed extending the utility of the data that is stored,” Poh added.
“This technology can be utilized as a component of our comprehensive identity validation services or overlaid on legacy biometric service providers."
Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.
Contact the author at stephen.gunnion@proactiveinvestors.com