NEW YORK (TheStreet) -- Facebook is working on new facial recognition technology, dubbed DeepFace, that will allow it to recognize faces on its social media network with a near human brain-like accuracy of 97.25%.
API is developing the technology for Facebook, which hopes to get to a point where tagging photos on the network will be done automatically. Currently users have to tag themselves and their friends in pictures. The human brain has a facial recognition accuracy rate of 97.75%.
"Our method reaches an accuracy of 97.25% on the Labeled Faces in the Wild (LFW) dataset, reducing the error of the current state of the art by more than 25%, closely approaching human-level performance," researchers said in a note posted on Facebook.
Shares of Facebook were down 0.3% to $68.04 in early trading Thursday.
TheStreet Ratings team rates FACEBOOK INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."