T Stamp Inc. - IDAI STOCK NEWS

Trust Stamp (Nasdaq: IDAI) announced on May 23, 2024, that it is filing a patent for a new AI-based Age Estimation Calibration Algorithm. This technology is designed to enhance the accuracy of biometric-based age verification systems, which is increasingly important due to stricter regulations and growing markets for age-restricted content. Trust Stamp's existing AI-based age estimation service, launched on March 13, 2024, will benefit from this new algorithm. According to Chief Science Officer Dr. Norman Poh, the algorithm uses a Bayesian framework to mitigate errors in age prediction and to produce age category probabilities tailored to client needs. President Andrew Gowasack highlighted that the improved performance and customization will provide a competitive edge for clients requiring precise age verification.

Trust Stamp (Nasdaq: IDAI) has filed a provisional patent for a new AI-based Age Estimation Calibration Algorithm. This marks the company's 14th pending patent. The algorithm aims to enhance the accuracy and reliability of biometric-based age estimation, addressing regulatory demands and the need for effective age-restricted content verification. It builds on the Bayesian framework to manage age prediction uncertainties and allows tailoring of age category probabilities to client specifications. Chief Science Officer Dr. Norman Poh and President Andrew Gowasack highlight the algorithm's potential to outperform existing solutions, offering a more customized and precise age estimation for various client needs.

Trust Stamp (Nasdaq: IDAI) announced that the company received a notice of allowance from the US Patent and Trademark Office for a new patent concerning an AI-powered personal identifiable information encoder. This new patent, #17/719,975, adds to their substantial intellectual property portfolio, now consisting of 20 allowed and issued patents, with another 13 patents provisional or pending. Gareth N. Genner, the CEO, highlighted that while their patents initially focused on privacy-first identity solutions using biometric data, they now have broader applications demonstrated by recent partnerships in diverse market sectors. This patent aims to enhance security against cyber-attacks and improve privacy protection by tokenizing personal data, aligning with privacy legislation like GDPR.

Trust Stamp (Nasdaq: IDAI), a global provider of AI-powered identity services, announced its financial results for Q1 2024. The company reported a net revenue increase from $459K in Q1 2023 to $574K in Q1 2024, driven by significant integrations with financial institutions. However, operating loss increased to $2.85M from $2.58M in the same period. The company highlighted new partnerships, including the ThinkTech program, and the launch of its age-estimation product. Additionally, expenses rose by 26.49% due to increased salaries and stock-based compensation. Despite current losses, Trust Stamp anticipates future recurring revenue and growth in new sectors.

Trust Stamp (Nasdaq: IDAI) has been granted a new patent for an AI-powered personal identifiable information encoder, expanding its portfolio to include data protection applications. With a growing intellectual property portfolio, Trust Stamp aims to enhance security against cyber-attacks and ensure optimized privacy protection in compliance with regulations like GDPR.

Trust Stamp ® introduces a rapid deployment initiative for an AI-driven multi-factor authentication solution targeting financial institutions and businesses.

Trust Stamp (Nasdaq: IDAI) joins the United Nations Global Compact, committing to ethical AI practices and supporting sustainable development goals. The company aims to foster societal and financial inclusion through innovative technologies while upholding human rights, labor standards, environmental protection, and anti-corruption measures.

Trust Stamp (Nasdaq: IDAI) announces the onboarding of the 50th Financial Institution to its Orchestration Layer platform, reaching a total of 54 institutions. The company's focus on US-based banks through partnerships has led to tailored product offerings for the community banking sector. Anticipated onboarding of community bank customers in Q2 of this year.

Trust Stamp (IDAI) reports its business and financial results for the year ended December 31, 2023, showcasing growth in customer base, revenue streams, and innovative product launches. The company's focus on US banks and new sectors, along with cost reduction measures, led to a reduced operating loss and strengthened balance sheet. Trust Stamp's patent portfolio and AI-powered technology stack position it for future growth and product differentiation.