Right now, facial recognition is everywhere to be seen. It once started as an attribute designed for sci-fi movies only, but now it has turned into a major phenomenon of daily life. People rely on the power of facial recognition all the time. Whether it has to do with unlocking your phone or tagging friends on a Facebook post or even while going through customs, facial recognition is the main point to consider.
The current number in the growth of facial recognition is just proving the ubiquitous nature of the facial recognition system. In the year 2020, the globalized market related to this kind of software was estimated to be around $3.72 billion. It is already expected to hit the current mark of $11.62 billion in the year 2026.
The current gain in the market to address:
Not just the current gain in the market volume, but even the algorithm associated with facial recognition has become way more sophisticated than ever. Right from the time COVID-19 came into the market, the vendors working with facial recognition have upgraded their algorithms with the newest features like recognizing faces with even a mask on.
But, similarly, there is another side of the facial recognition software, it has been a concerning point in some ethical concerns that have been amplified by the uses of the same technology for protester identification and racial profiling.
With maximum organizations now turning towards AI technology solutions for businesses, it is mandatory to know more about AI-centric face analysis and how it actually works. This write-up will help you to venture into this field in detail. So, read till the end of it.
Improve the current public security level:
There are multiple benefits revolving around the world of facial recognition software. But among the lot, improved public security is at the highest peak. Among so many areas where facial recognition technology is used, law enforcement seems to be at the top ladder. Also, this is the place where facial recognition will give rise to maximum controversy.
- As per some report channels, this technology is actually proliferating among all the major law enforcement agencies.
- Some of the major cities globally along with multiple state and local law enforcement agencies are currently using the power of facial recognition technology.
- Furthermore, Customs and Border Protection is now vowing to check around 97% of international passengers by the time 2023 comes with a facial recognition system.
- CBP is making the aim to verify the department of the non-immigrant visa holders as well. At present, CBP has a public system that checks the listing of the boarding airline passengers.
The use of facial recognition in the banking sector:
Even though financial institutions are focusing on multiple security measures, banking fraud is still something to be seen from time to time. It has become a recurring problem for sure. But, with the help of facial recognition online banking, you can solve this issue from its core point.
- Even though banks have been using a sophisticated version of one-time passwords for accessing accounts and also for authorizing transfers, there is even some room left for improvement.
- One such solution will be the introduction of biometric identification by using the power of facial recognition technology.
- Without going for the pesky passwords, you get to authorize transactions by just looking straight at your computer or smartphone camera.
- The biometric version of online banking seems to be another main reason that makes facial recognition so popular among the masses.
- With facial recognition, there is no need to handle passwords that hackers can get into easily.
- Even if the hackers stole your photo database, it won’t be of any use as “liveness detection” will prevent them from using it.
The benefits are not just restricted to online banks. Nowadays, ATMs and physical bank branches can also use this technology to its fullest potential. Within a few more years, you don’t even have to use debit cards or signatures any longer!
Finest work attendance systems:
Industrial sectors are always the victim of time fraud. Employees do take undue advantage of living early from work or even coming in late. It violates work ethics but there is no one to take a look at each and every employee separately. Most of the workers are honest, but not all. So, to solve this issue and to check their attendance, facial recognition services will really work promisingly.
- Every employee must pass the face-scanning devices for checking in for work.
- Paid hours will start from the moment their face gets checked by the scanners and until the final checkout.
- This process is considered to be pretty fast and employees don’t even have to take out ID cards.
These are a few of the many areas where you can see the proper use of facial recognition software. The importance of this mechanism is growing and is soon to take over the security section globally.
