Biometrics industry stocks this week

As the biometrics industry continues to grow, Biometric Update is bringing a new focus to the stories around the stocks in the sector. Check in with this space each week for a rundown of the financial news and interesting ideas from the week that was. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite set new record highs this week. The advances have, as usual, been propelled by tech stocks. Investors continue to bet that companies like

Ping An Financial OneConnect launches biometrics-based cloud service for insurers

Ping An OneConnect has launched the Smart Insurance Cloud in Beijing, unveiling its latest products — Smart Verification and Smart Fast Claim — to the insurance industry. The AI-powered Smart Insurance Cloud features online-to-online interaction capabilities, offering insurance companies smart services and a”flexible access, fast upgrade, self-development, and close follow-through” experience to improve the use of technology in the insurance industry. Smart Insurance Cloud marks the first public unveiling of Ping An’s core technology for the insurance business. The company’s

Ping An to invest $1b on technology R&D with focus on AI

Chinese financial firm Ping An Insurance (Group) Co will make a more than 7.77 billion yuan ($1.16 billion) investment on technology R&D this year, with a particular focus on artificial intelligence (AI), according to a report by China Daily. “We want to build more platforms in finance and healthcare industries this year and in the near future,” said Ericson Chan, CEO of Ping An Technology, a subsidiary and technology arm of Ping An Group. “We will continue to focus on

Ping An Technology developing AI face recognition technology with record results

Ping An Technology Co. Ltd. is reporting key breakthroughs in the development of its artificial intelligence face recognition technology. The company recently achieved a high score in the latest tests conducted by the University of Massachusetts’ facial recognition technology benchmark Labeled Faces in the Wild (LFW), scoring a face recognition ratio of 0.9960+/-0.0031. The record results are slightly higher than that of other face recognition developers, which have published test results confirming an accuracy rate of approximately 99.5 percent, and

PING AN Tech facial recognition receives high score in latest LFW test results

PING AN Tech achieved a high score in the latest tests conducted by the University of Massachusetts’ facial recognition technology benchmark Labeled Faces in the Wild (LFW), scoring a face recognition ratio of 0.9960+/-0.0031. The company has been developing the face recognition technology over the past three years, with its business units repeatedly using the application. PING AN Tech’s 13 professional companies and 55 partners all tested the application, including Ping An iLoan 2.0, Ping An Life Insurance, and Shenzhen