Emotion analysis from photo or video is now possible, with far-reaching consequences for marketing. Meet Kairos.
Facial recognition software is gaining popularity as it’s getting implemented in more and more areas, ranging from identification provision to consumer data collection. The driver behind this trend is the government’s increasing interest in biometric technologies. The market is expected to reach $7.76 billion by 2022 and Kairos is determined to dominate it by merging their state-of-the-art identification technology with the blockchain.
The number of cameras installed on mobile devices, streets, offices and other places is increasing with every year. The all-around presence of cameras has become a normal condition of our life. However, there are many unexplored ways to use this newly available data, especially for precision marketing. Kairos is working exactly in this area, trying to introduce innovation in the face-recognition technology and transform it into something more.
Kairos is, basically, an AI face recognition system. It can recognize faces on videos and photos, which can be used to verify identity and collect consumer data. What’s the connection with the consumer data? Unlike many of its competitors, Kairos can detect emotions of a person, as well a range of demographic characteristics: age, gender, ethnicity.
The developers call the whole set of abilities “the human analytics” and claim that it can be invaluable to businesses, especially brick-and-mortar ones. This opens up a myriad of marketing possibilities with a flexible personalized approach to each client. The company’s whitepaper claims that enterprises miss out on $800bn in profits annually due to lack of on-demand, personalized transactions with customers.
Through the ICO the company is planning to further develop the project and to ultimately transfer its database to blockchain-architecture. Kairos believes that by implementing blockchain in its system it gives the power of identity monetization back from corporations to consumers. With the new system, the users will be able to take control of their identities and secure them easily. This will also give the users opportunity to form cooperatives, share and leverage Kairos databases. The company hopes that the transfer to blockchain will be a catalyst to organic growth, as “members are incentivized to contribute faces and intelligence”.
The are two types of tokens in the system – Kairos Security token (KAIROS) provides a stake in the company, while Kairos Utility / Identity token (FACE) is “gas to power the platform”. The whitepaper doesn’t say much about the utility token, except that it will be “prospectively offered in the future”.
Kairos team is led by Brian Brackeen, a CEO of the company since its foundation 6 years ago. The list of his former employers includes such giants as IBM and Apple, so the reputation of this man is out of the question. Under his leadership, the company secured partnerships with large enterprises and acquired emotion analysis company IMRSV to create its unique “human analytics” brand.
The company has been around for 6 years and already has a functioning product to show (various demos are available online). It really has a chance of adding value to businesses by supplying customer insight of the highest level. The biggest challenge, as usual, is competition. At the moment Kairos is ahead of the game, offering a range of features unavailable to the competitors, but companies like Google will try to catch up. Anyway, Kairos is off to a good start, especially if we consider the potential of decentralized database architecture. If Kairos migrates to blockchain quickly and demonstrates the advantages, it can become much more than a small company.
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