Why is Face Recognition Technology Important for Different Types of Businesses?
Covid-19 pandemic has enhanced the use of digital technologies to allow smooth functioning across several businesses. There is a huge transformation in biometric systems with the inclusion of face recognition technologies. As investments in face recognition technologies have grown and there are advancements in technologies, several types of businesses are adopting them. Hence, facial recognition has become a part of the biometrics service and digital transformation activities for different types of businesses. Diverse kinds of uses are gaining in the facial recognition market that is showing signs of growing huge than ever.
About Facial Recognition:
It is a kind of machine learning technique that involves the processing of complex algorithms by software by analysing the facial features of a person and matching them to the already present details in the database. While the basic formula is similar to the fingerprint technique, facial recognition is much more advanced than traditional software. It will analyse different elements of a person’s features like their eyes, nose, cheeks, chin, etc and map them with existing entries. It is dependent on the unique features present in the person’s face and the accurate information stored in the database. The stronger and bigger the accuracy of data stored in the software; it can more accurately detect an individual.
How Facial Recognition Technology Works?
Facial recognition is a technique that recognizes a person by checking his or her facial features. To perform this, facial recognition employs several advanced technologies like 2D images, 3D recognition, and certain algorithms that can offer accurate differentiation between features. It works in 4 different levels: detection, alignment, extracting features, matching of features, and sorting.
- Detection: Here the technology will detect and track the person in a specific photo or video.
- Alignment: This stage is to check the facial contours, lines, or creases present in the features.
- Extraction of features: Every specific feature of the person like eyes, lips, nose, chin, etc is identified and extracted for future usage.
- Matching of features: Here, the information acknowledged from the extraction stage is matched to the entry in the database to accurately offer the identity of the person.
Why is Facial recognition important for diverse types of businesses?
Highly improved security features:
- With the advancements in technology, unfortunately, there has been an increase in cybercrimes that always calls for improvement in security measures. While complex passwords are used to safeguard the system and the existing sensitive information, it is constantly exposed to malicious activities. There are several instances where hackers have cracked entry into the system by accessing the passwords.
- Facial recognition applications are advanced technologies that are more robust than just complex passwords. While they can be used easily without any need to constantly remen\ber or store passwords, they are also unbreakable barriers for hackers. Only a precise individual with authorized access can gain entry to the system. It makes it crucial for diverse types of businesses to safeguard their sensitive information and protect the data of their customers.
Retail:
- Even though there has been a steep increase in e-commerce apps in recent years, it hasn’t shut the doors for physical retail stores in the market. There is a significant bunch of customers who still prefer to make their purchases at these stores. Even though they make a thorough study on the internet about a purchase, they make the actual purchase at physical stores, especially for valuable products. Hence, physical retail stores must ensure that the environment is protected from any malicious activities.
- With the introduction of face recognition technology in the retail space, there are possible opportunities in the segment in the coming years across the globe. It is highly useful in negating the issues of theft while also helpful in carrying essential activities with easy access to authorized individuals. Moreover, it is employed in the classification of customers to offer customized options with rewards, loyalty points, and many more services. This technology can be highly helpful in speeding the relative processes which will finally have a huge impact on the customer experience.
Read more: How much does it cost to develop a payment app like DUBAIPAY?
Banking:
Regardless of several security procedures executed by financial firms across the globe, frauds in banks are a continuous problem that can be easily resolved by the use of facial recognition techniques. Instead of employing the traditional one-time passwords, several banking transactions could be authorized via facial recognition through a computer or even smartphones. With a combination of biometric online banking and facial recognition, there will be no access to passwords for unauthorized persons. As there will be matching of live facial features from the database, there will not be any possibility of fraudulent activities. This online banking functionality will be secured and can also be used at physical branches to safeguard the interests of people’s investments.
Read more: How much does it cost to develop an ADCB mobile banking app in UAE?
Faster payment options:
With facial recognition technology, payment gateways will have the option of employing facial features for authorizing and completing a specific transaction. It will negate the use of credit or debit cards which will directly avoid the wrong use of sensitive customer information. There will be zero or minimal chance of any malicious activity since the payment will go through only via an authorized individual who is identified by facial recognition technique.
The efficiency of employees:
Any kind of business will have to accurately track the efficiency of employees which is traditionally carried out by scanning ID cards or fingerprints. This is identified by the system when they log in the hours during entering and leaving the office. With facial recognition, these tedious tasks are gone with the added benefit of negating human errors. It will exactly track the working hours of an employee and ensure that the efficiency of your business is on the right track.
Final thoughts:
Facial recognition technology is rising like never before and it’s the right time for businesses to adapt this to offer advanced services. Partner with an expert digital transformation expert like Brillmindz – mobile app development company in Dubai, for getting maximum returns for your investment with brand-enhancing end products.
