KUALA LUMPUR, Aug 29 (Bernama) -- Jumio Corporation launched Jumio AI Labs for the creation, experimentation and at-scale deployment of its machine learning and deep learning technologies in Montreal, Canada.
Headquartered in Palo Alto, California, Jumio is the creator of Netverify™ Trusted Identity as a Service – a complete solution to establish the real-world identity of the consumer.
The company in a statement said the AI Labs will develop deep learning models to dramatically improve identity verification accuracy and verification speed. The team is led by Chief Technology Officer and Chief Scientist at Jumio, Labhesh Patel.
Jumio’s investment in AI Labs will enable the company to stay at the forefront by creating new models, algorithms and best practices that will fuel the company’s growth and broader adoption of AI-powered identity verification.
The new office will expand upon the innovation driven by Jumio’s Vienna-based AI team by building production models that perform three vital functions related to online identity verification: data extraction, fraud detection and risk scoring.
In recent years, Montreal has emerged as a major technology hub for AI. The low cost of living and several large Montreal-based universities and academic institutions, ?has also led to a convergence of AI talent and research support in the city.
Artificial intelligence has already been productionalized to reduce the time it takes to verify an ID document or an online identity – helping Jumio’s customers reduce their abandonment rates and increase new account conversions.
In fact, Jumio’s AI models have reduced the average customer transaction time by 7 per cent with more significant reductions planned for the fourth quarter. More details on https://www.jumio.com
--BERNAMA
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