09192017Headline:

Ping An Technology AI Lab Ranked World’s Best Performing in LFW

May 12, 2017 - (Newswire)

- Ping An Technology AI Lab, owned by Ping An Group, achieved an important milestone when the research facility was awarded the highest score for face recognition accuracy and for demonstrating the best ability in recognizing the smallest changes in facial expression, according to the latest test results released by internationally recognized facial recognition technology authority Labeled Faces in the Wild (LFW). The tests yielded an accuracy rate of 99.8 per cent, a result that was superior to that of many renowned domestic and foreign rivals as well as the best result achieved to date in the history of LFW. It is also the first time that Ping An Technology was the achiever of the record.

According to the usage statistics of Ping An Technology facial recognition system, as of May 2, 2017, the technology has been applied to more than 200 million faces. In addition, the Third Research Institute, a testing facility under the aegis of China's Ministry of Public Security, confirmed the face recognition accuracy rate at 99.84 per cent and issued the relevant certification.

With the facial recognition technology, Ping An Technology AI Lab was able to compare facial images based on their differentiating features, precisely identifying faces. During the exploration into artificial intelligence and subsequent R&D process that took place over the past three years, the laboratory was able to achieve the superior results based on hundreds of millions of instances of user data collected from databases across multiple business sectors.

Many financial institutions have already deployed the technology:

  • The technology has been successfully used in dozens of projects since 2015, including credit approval, credit card comparison during batch processing, identity verification in banking transactions, opening of bank accounts online, account login and insurance underwriting.
  • Several of China's leading financial companies have already started including facial recognition technology as a necessary step for many transactions, including but not limited to:
    Shenzhen Social Insurance Wallet, Ping An Puhui, Ping An Bank, Ping An Credit Card, Ping An Property Insurance, Ping An Annuity, Ping An Securities and the Bank of Jiaxing. The technology has already been applied in hundreds of millions of instances.

Chinese government offices and state-owned enterprises have widely adopted the technology:

  • Guangzhou's many district offices have applied face recognition to control access to rental units;
  • The Human Resources and Social Security Bureaus in Shenzhen, Fujian and Tianjin have carried out trials of the technology for identity verification;
  • In March of this year, Shenzhen Airport entered into a strategic partnership with Ping An Technology that started with a pilot phase where the technology was used in the VIP lounge and, by the end of June, will be expanded across the entire airport.
  • Shenzhen's Housing Authority and China Railway have each separately started trials of the technology in identity matching, with China Railway planning to roll out the service on the Beijing-Shanghai High-Speed Railway line soon.
  • Ping An Group has started pilot programs that apply facial recognition as the mechanism to verify work attendance and for access control management.

In other AI-related areas, Ping An Technology AI Lab has also committed itself to making work and life simpler and more intelligent for one and all through its diversified research. An AI-driven voice navigation system now directs all phone calls made to Ping An Group, and has been integrated into Ping An Securities', Ping An's mobile banking and Kuai le Ping An's apps to optimize the experience. Voice analysis is being used to assess how conversations are being handled by customer service personnel when dealing with incoming calls from customers, as well as to analyze the caller's feelings and emotions during the course of the call. Movement tracking provides an analysis of driver habits and behavior. Artificial intelligence is being used across a wide range of applications.

Ping An Technology's facial recognition technology has been widely applied in over 100 use cases involving more than 200 million faces. The technology has also been successfully deployed by more than one hundred of China's leading firms in high security areas including financial risk control, security and protection, health insurance, social security benefits programs, railway facility access, airport security and online access as well as educational and social welfare services. In addition, Ping An Technology has been active in overseas expansion by establishing partnerships with several international financial institutions.

With an increasingly expanding face database and numerous domestic and international academic awards and recognitions, Ping An Technology's facial recognition technology has become the best of its class worldwide. Ping An Technology general manager Chen Liming said: "Artificial intelligence (AI) is the way of the future when it comes to social development. Facial recognition technology, a core segment of the AI spectrum, is becoming increasingly accepted as the tool of choice in terms of security management. Ping An Group, the first firm to be certified by the relevant authorities for application of the technology across all financial transactions, has utilized its proprietary AI technology in several core areas of the banking and financial sector, further paving the way for an increasingly broad application of the technology. "

SOURCE Ping An Tech

Original Source: https://www.newswire.com/news/ping-an-technology-ai-lab-ranked-worlds-best-performing-in-lfw

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