ATLANTA, GA, May 23, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI), the AI-powered, Privacy First Identity CompanyTM announces that it is filing a patent for an AI-powered process that improves the performance of biometric-based age estimation algorithms.  Increased regulatory pressure and the proliferation of age-restricted content has produced a robust and rapidly growing market for low-friction age verification.  Trust Stamp already offers an AI-based age estimation service, having announced its product on March 13, 2024.  With this new algorithm, error rates in AI-based estimation are reduced, and Trust Stamp will be able to more easily tailor results to complex client requirements.

Dr. Norman Poh, Chief Science Officer of the Company, commented, “This new patent application will represent Trust Stamp’s latest innovation in age estimation. The algorithm builds on the Bayesian framework to not only address the inherent uncertainty in predicting human's age but also in ways that can reduce the effect of over and under estimation had raw age values been used. Moreover, the solution allows us to produce age category probabilities that can be easily tailored to different clients’ requirements and even to target demographics, thus making the age estimation much more reliable and targeted."

Andrew Gowasack, President of the Company, commented, “With this new innovation, we fully expect our age estimation performance to outpace legacy products.  Calibration and categorization of the AI outputs will be an attractive process improvement for clients who are seeking a more accurate and customized solution for online age estimation.”

Inquiries

Trust Stamp                                                   Email: [email protected]

Andrew Gowasack, President                       

About Trust Stamp

Trust Stamp the Privacy-First Identity Company^TM, 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.

Located in seven countries across North America, Europe, Asia, and Africa, Trust Stamp trades on the Nasdaq Capital Market (Nasdaq: IDAI). The company was founded in 2016 by Gareth Genner and Andrew Gowasack.

Safe Harbor Statement: Caution Concerning Forward-Looking Remarks 

All statements in this release that are not based on historical fact are “forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events-based information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.