T Stamp Inc (NASDAQ:IDAI, EURONEXT:AIID), doing business as Trust Stamp, announced the release of its new AI-powered age estimation technology which allows online and offline enterprises to estimate the age range of a user based on a facial image.
Shares of the company moved higher on the news, up 14.8% at US$1.24 on Wednesday morning.
The company said it can deliver its age estimation technology as a Software-as-a-Service (SaaS) application through its Orchestration Layer, as an on-premises installation, via an SDK for integration for mobile applications, or as a standalone application that can run on the edge without requiring Internet access.
“Understanding the age of online users is critical not only to ensuring that services and content appropriate for mature audiences are not accessed by minors but also ensuring that services that are expressly designed to allow young people to interact are not infiltrated by adult users,” Trust Stamp president Andrew Gowasack said in a statement.
“This is increasingly being recognized by legislative initiatives, and in some cases, algorithmic-based age estimation is expressly being authorized. As with any product of this type, our technology cannot provide an exact age for a user but does provide a confidence level as to an age range allowing platform operators to focus document-based age verification on a subset of their users.”
Gowasack said Trust Stamp recently took part in a bake-off against an industry leader in the age verification field and, based on the performance of its deep-learning technology during that test, it is now negotiating the first commercial implementation.
“Although our first potential customer is an online platform, the demand extends to offline venues and can remove the need for more intrusive in-person requirements,” he said.
“This is a very substantial and fast-growing market opportunity for us and an excellent compliment to our existing identity authentication services.”
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.