The facial recognition market is expected to reach a value of 10.7 USD billion by 2025 as the combination of artificial intelligence and computer vision is transforming facial recognition beyond biometric authentication. The disruption in technology is transforming how we use various systems today and one of them is facial recognition.
Starting from surveillance systems to digital identification, facial recognition has become commonplace for many industries to authenticate their operations. With the increasing usage of technology and growing interactions with face authentication software, their scalability level is upgrading. For instance, this technology is helping leading retailers, like Amazon, to identify consumers, assisting the governments in the airports and security management to identify potential threats, identifying verifications in digital banking, etc. Changing architecture is expected to see a boom in the face recognition industry.
How facial recognition will work for your industry?
Face recognition software uses biometrics, treemaps, image detection anomalies to map facial features from a picture or a video. The software compares the provided information within the known faces to find the match. The system uses data science technologies and anomalies detection techniques such as liveness detection, depth mapping, 3D sensing, and texture detection, to identify the objects with utmost accuracy.
1. Authenticated user login
Security surveillance in the space of E-commerce and digital banking is difficult and issues to identify authentication act as a threat. The traditional verification and authentication methods are not clearly a solution for online privacy. The increasing rate of cyber thefts is also one reason behind it. The advanced facial recognition API systems integrated with AI systems are expected to take over the traditional space. The biometrics using facial recognition can change the online industry and successful integration for fraud mitigation.
The tourism and travel industry spend billions on maintenance every year. Integrating facial recognition tools can help in reducing costs to 40%. Facial recognition will be seen everywhere from flight booking to hotel check-in. Adopting new technologies will always offer better outputs. Last year Delta airlines announced that they integrated face authentication technology at Atlanta airport, and after successful emulsion, there are increasing the number to 20 more airports. The customers will be able to use their face to check-in, check in their luggage, and board a plane.
2. Enhanced user experience
Here is how biometric facial authentication can enhance personalized user experience. By enabling users to log in using their face, they can access specialized content designed based on their previous experiences and preferences. And online education systems or learning management systems, freelancing websites, marketing channels are a few of the major sectors to embrace this technology.
3. Modernizing healthcare services
Healthcare is an evergreen industry that integrates and experiments with technologies. Investing in facial recognition technology has many expectations beyond disputing, physical, and digital security breaches. Biometric face authentication technology enables more advanced security and prevents fraud. The increased use of telehealth or telemedicine is gaining more prominence because of facial recognition. The expected facial recognition trends in the healthcare sector are ranging from tracking patients’ medication history, detecting genetic diseases, preventing health insurance fraud, etc. Modernizing healthcare services is providing new roots for providing digital healthcare solutions.
4. Transforming monetization space
Cardless payments are trending in the monetization technology space. The experimentation and success rate of Chinese payment systems are more advanced and secured, as compared to the rest of the world. These authentication systems are scalable and they potentially remove the shopping cart barriers. The e-commerce giants are adapting face recognition for payments to provide secure and more authenticated service.
The trend of facial recognition is growing and the scalability level is unexplored. Industries leveraging it today are moving ahead than ever before. The advancement of this authentication software helps in more secure operations.
The application of face recognition tools is more than a trend today. As industries undergo digital transformation and customer preferences evolve, data science integrated facial authentication software is a necessity today. Soulpage introduces our on-demand facial recognition solution (FaceReg) that can provide quick but advanced data science capabilities to meet the additional challenges and explore new opportunities ahead. To know more about our product and to book a demo, click here.
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