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Artificial Intelligence has been around for quite sometime now, it has made a significant mark on our daily lives—we often use products and services knowingly and unknowingly that leverage AI in some way or the other. New studies support this trend and businesses leaders are waking up to the possibilities of growing their businesses by integrating AI applications.
 

In a recent study from the Boston Consulting Group and Massachusetts Institute of Technology Sloan Management Review, based on interviews with more than 3000 executives, analysts and business leaders in 112 countries and 21 industries have found that more than 84% of the respondents say that use of AI will enable them to obtain a critical competitive edge over their rivals.

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Google Next is Google’s annual conference focusing on their cloud computing offering, Google Cloud Platform. Thanks to our great Google Cloud account team in Miami, we were able to attend this year and learn about Google’s new announcements, network with experts and other peer companies, and get some in depth knowledge about GCP.
 

For a little while now we have been working to migrate our cloud from Amazon Web Services (AWS) to Google Cloud Platform (GCP). We’ll be providing more details of the move, our learnings and other interesting tidbits of our journey in a future post, but for now let’s talk about the Google Next conference.

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Estimated to be valued at close to $10bn by 2023, with a compound annual growth rate of 16.8%, the global face recognition market is rising. Major growth forces behind the market are the evolving surveillance market and government expenditures in the arena of biometric technologies; yet, the use of face recognition has much to contribute in other areas, such as helping businesses combat consumer fraud, meet dynamic regulatory compliance, and delivering profitable customer experiences.
 

Originally more science fiction than reality, it lacked precision and scalability; that is no longer the case. Some of the world’s largest companies have acquired and implemented face recognition technology in recent years. It’s now become a key feature of many modern businesses and continues to impact multiple industries. Face recognition has come a long way since its inception in the 1960s.

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Every month, we’re bringing you the best news and views on the most compelling topic in technology today—Identity. All lovingly curated by the team at Kairos.
 

First, some housekeeping: This is the inaugural episode of The Identity Economy™ since moving off of the Medium platform. Why did we move? Well, we realized while Medium is great for amplifying articles, ultimately we wanted to make 'The Identity Economy™' synonymous with Kairos. That meant publishing it on our homegrown blog. #ContentMarketing etc.

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Facial Recognition is in big demand with businesses all over the world—from preventing fraud to enabling more profitable customer experiences; it’s becoming the natural authority on identity. Which is why we’re excited to announce a renewed partnership between Kairos and RapidAPI—the leading API marketplace for software developers.
 

Together, we’re bringing the benefits of ethical and scalable facial biometrics to a wider audience, helping developers and businesses alike get access to one of the planet’s best face recognition algorithms.

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Last week I attended the 2nd Annual Biometric Summit in New York City. It was hosted at a cool co-working space called “Rise” that’s sponsored by Barclays Bank and TechStars incubator. It was one of the smaller summits I have attended, with a single track and about 100 attendees—ranging from biometric vendors and end-users to analysts (👋 Alan Goode) and investors.
 

Personally, I appreciated the coziness, which made for some insightful networking opportunities and high-quality sessions. I left with plenty to think about on my trip back to Boston, so here are my takeaways from the Biometric Summit 2019:

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As Kairos’ Director of Product Integration, I’m on the front lines when it comes to customer inquiries. From pet detection to weight detection, I’ve heard it all. While some ideas are more far-fetched than others, the common trends cannot be ignored—and these represent innovations that are happening NOW.
 

One that caught my eye recently is 'facial recognition enabled kiosks'—I’ve been getting allsorts of inquiries about this, and I've learned a bunch from helping software developers successfully integrate our technology into their kiosk products. Yes, sometimes that means keeping their imagination grounded too, unfortunately computer vision cannot guess someone’s favorite snack from a selfie (yet 😉).

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From getting the latest TechCrunch headlines on your phone, to booking a Lyft to your office—APIs are powering most of the products and services we all take for granted each day. They make the world move.
 

Now, if you’re a software developer this probably won’t be news to you. In fact, maybe you’re working for a company (or founding one) whose products contribute to the digital economy of today.

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This month, CB Insights mapped out the top-funded AI startups in every US state—and, Miami based face recognition company, Kairos came out on top for Florida.
 

Coming-off of our most recent investment announced in February, it was great to see our team’s contiuned hard work recognized.

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Online dating is big business, but it also has some big problems with identity verification practices—made even more real by this month’s concerning reports about child abuse and exploitation happening on some of the world’s biggest dating platforms.
 

Governments are getting involved, poised to crack down and introduce legislation for customer onboarding and security standards—primarily, age checks.

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