We report on our new models for photoproduction and electroproduction of kaons off the proton and neutron target, focusing first on the \(K^+\Lambda \) channel and then extending the analysis to \(\Sigma \) photoproduction channels. For the proper treatment of the exchanges of higher-spin resonances, we opted for the so-called consistent formalism and in order to partially account for the unitarity corrections at the tree level, we introduced energy-dependent widths of nucleon resonances. For selecting the appropriate set of resonances, we used regularization methods known from machine learning, the Least Absolute Shrinkage Selection Operator and Ridge regression.