LAS VEGAS, April 23, 2019 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (AI) solutions and digital media properties, today announced that its facial recognition algorithm was ranked in the top twenty in the latest Face Recognition Vendor Test (FRVT) 1:1 evaluation conducted by the U.S. National Institute of Standards and Technology (NIST).
In the latest FRVT evaluation, Remark's AI facial recognition product beat out top AI companies in the world, including billion-dollar unicorns, such as SenseTime and Face++. The FRVT measured algorithms based on false non-match rate (FNMR) across several different datasets. FNMR is the proportion of mated comparisons below a threshold set to achieve the false match rate (FMR) specified. FMR is the proportion of impostor comparisons at or above threshold.
In the Wild Image accuracy test, a subcategory of this FRVT 1:1 evaluation, Remark's AI technology ranked in the top 14. The Wild Image accuracy test includes images featuring individuals who were captured from various surveillance video cameras in a non-cooperative manner. Those images typically have random issues such as large variation in resolution and other quality aspects. Therefore, Wild Image recognition is generally considered the most challenging area for facial recognition technologies and is also considered one of the key factors to measure how good the facial recognition performance is in industrial use cases.
Advanced facial recognition technology is one component of Remark's AI product offering, which is backed by proprietary technologies secured by 15 software copyrights and 26 patents. Remark's AI is currently working with a diverse mix of customers in deploying and testing tailored AI products that tap into the Company's proprietary technologies, application flexibility and cost-efficiency to develop solutions for a diverse mix of markets.
"Our top-twenty ranking on the FRVT directly reflects our investment in building and perfecting our facial recognition technology," said Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. "The prestigious recognition is yet another validation of this key component within our comprehensive AI product offering. We are continuing to work with a broad range of partners in developing tailored AI solutions aimed at addressing issues and improving processes spanning retail, construction sites, traffic control, restaurants and entertainment."
Conducted by the NIST, the FRVT is aimed at measurement of the performance of automated face recognition technologies applied to a wide range of civil, law enforcement and homeland security applications including verification of visa images, de-duplication of passports, recognition across photojournalism images, and identification of child exploitation victims. Access to the FRVT results can be found at: https://www.nist.gov/programs-projects/frvt-11-verification.
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. The Company's easy-to-install AI products are being rolled out in a wide range of applications within the retail, financial, public safety and workplace arenas. The Company also owns and operates digital media properties that deliver relevant, dynamic content and ecommerce solutions. The Company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the Company's website at www.remarkholdings.com.
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
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