“In announcing the R&D expansion, Jumio said its new Montreal-based AI team will build deep learning models pertaining to data extraction, fraud detection, and risk scoring.”
Jumio has launched a new artificial intelligence lab to help further advance its biometric authentication technology.
Based in Montreal, the new lab will complement ongoing work at Jumio’s Vienna-based AI lab. It’s being led by Jumio CTO and Chief Scientist Labhesh Patel.
In announcing the R&D expansion, Jumio said its new Montreal-based AI team will build deep learning models pertaining to data extraction, fraud detection, and risk scoring. Jumio says that its AI models have already helped to reduce the average time for a customer transaction by seven percent, but that the expanded team led by Patel is expected to deliver further advances in the fourth quarter.
As for the new lab’s location, Jumio highlighted Montreal’s low cost of living and its multiple academic institutions, both of which have “led to a convergence of AI talent and research support in the city,” which the company called “a major technology hub for AI.”
The announcement comes soon after a Q2 update in which Jumio reported a year-over-year sales jump of 269 percent. The company is clearly enjoying tremendous growth, and is leveraging its success to further enhance the underlying technology of its popular authentication system.
Follow Us