CLEAR and YITU represent biometrics industry on CNBC Disruptor 50 list

May 16, 2019 | Chris Burt

A pair of biometric companies have been recognized on the CNBC Disruptor 50 list of private companies changing the world through innovation, with YITU Technology coming in at number 20, and CLEAR at 22.

CNBC notes China’s ambition to lead the global artificial intelligence market by 2030, and the wide recognition of YITU’s Dragonfly Eye facial biometric technology, and says that YITU also plans to export its products around the world. As of last year, at least 20 provincial public security bureaus had deployed YITU’s surveillance technology to at least 300 cities, CNBC reports.

Megvii and SenseTime are considered to have the most powerful facial recognition systems in the world, CNBC says, but YITU is also reaching into new markets, and recently formed a strategic cooperation partnership with local governments and other organizations in Britain to work in the fields of public security, finance, and health care.

CLEAR’s work in biometric payments, age validation, and changing travel experiences are recognized as disruptive by CNBC. In an appearance on the news network’s Squawk Alley, CEO Caryn Seidman-Becker discussed the company’s growth and future, saying the company’s volume and membership are up almost 100 percent year over year.

“It took us 8 years to get our first million members, 8 1/2 months to get our last million members and 11 1/2 months to get the ones in the middle,” she says.

In addition to extensive work in airports and a partnership with Delta Airlines, CLEAR recently deployed biometrics for entrance into Progressive Field, home of Cleveland’s Major League Baseball team.

“We believe any place you’re whipping out your wallet and taking out your card to prove you are you is a place where CLEAR has big opportunities,” Seidman-Becker told Squawk Alley.