Element announced its official entry into the $5 million IBM Watson AI XPRIZE, a global competition encouraging the development of powerful artificial intelligence (AI) based applications that tackle the world’s greatest challenges.

Element develops and distributes a mobile-based, software-only platform for biometric identity. Co-founded by Adam Perold and Yann LeCun in 2012, Element was one of the first modern AI labs focused on digital identity. The company works with partners across sectors – financial, telecom, health, insurance, and government – to connect people to essential services.

Over 1.1 billion people worldwide don’t have formal identification, but the problem is far greater. Many billions of people have enrolled in a formal identification system but can’t use it day to day - they don’t have a mobile-led digital platform with which to access the digital services they need at the time that they need them, spanning the banking, health and civil systems of their societies.

Additionally, in the world today there is no commercial and scalable biometric solution for people at the time of birth through early childhood - a period of rapidly changing features. Alongside its enterprise solutions, Element is working to solve the challenge of biometric recognition for children under-five, with the aim to create the first platform capable of biometrically following a person from birth through old age.

For more information about Element, please visit discoverelement.com. For more information about the IBM Watson AI XPRIZE, please visit ai.xprize.org.

About Element

Element develops and distributes a mobile-based, software-only platform for biometric identity. As pioneers of mobile deep learning – and among the first in the field – Element works with partners around the world to build more efficient and inclusive societies. Element’s end-to-end biometric solutions are used to provide a digital identity resource for healthcare providers and empower access to financial services, among others. Element was founded by Adam Perold and Yann LeCun, Turing Award Laureate recognized for his contributions in developing the modern field of artificial intelligence, Chief AI Scientist of Facebook, and a professor of NYU. For more information, visit www.discoverelement.com.

About XPRIZE

XPRIZE, a 501(c)(3) nonprofit, is the global leader in designing and implementing innovative competition models to solve the world’s grandest challenges. Active competitions include the Lunar XPRIZE, the $20M NRG COSIA Carbon XPRIZE, the $15M Global Learning XPRIZE, the $10M ANA Avatar XPRIZE, the $7M Shell Ocean Discovery XPRIZE, and the $5M IBM Watson AI XPRIZE. For more information, visit xprize.org.

Read more at:

XPRIZE: Four Teams Enter $5M IBM Watson AI XPRIZE in Last Wildcard Round