Facial recognition has become a debatable topic these days. Nowadays, it is taken as the best way to verify clients’ identities and it is one of the most effective isometric methods. Facial recognition technology is backed up by artificial intelligence software which helps organizations and businesses to authenticate the identity of an onboarding client by taking their facial feature signature. Commonly, the software works by distinguishing between the images of the client taken through pure images and through videos.
Up until today, the recognition system has been integrated into many industries. For example, the tagging feature in the Facebook app uses facial recognition and Apple also uses a face verification solution to prevent unauthenticated access of people. Within the context of educational organizations and law enforcement agencies, the technology is widely used to certify identities.
How Effective is the Facial Recognition Technology?
In the June of 2020, NIST discovered a shortcoming of facial recognition technology. It was discovered that the software technology could not do its operation half the time (50%). However, in the January of 2021, the Homeland Security department showed the efficiency level of the technology. It was found to be 96%. Hence, a lot of improvement was seen in the technology over the last year.
The Economic Influence Of Facial Recognition Technology
There are several aspects of the economy that are influenced by facial recognition technology. Let’s take the example: the World Travel and Tourism Council found that more than 90% of Macau’s GDP comes from the traveling sector. Keeping this into perspective, there is so much financial potential behind it.
In such a way, the financial potential in the face reading software is enormous and grants so much growth to the economy. Therefore, the industries are continuously on the lookout for better face recognition technology versions. Additionally, the streamlined authentication system at airports and public hotels offers a lot of opportunities that big industries want to take advantage of. Therefore, the experts want to look at the global worth of the face recognition revenue market.
Customization is Extremely Important
Providing customization features to customers is extremely important in the traveling industry. The faces of the clients can be cross-checked with the information available in the database. For example, a hotel environment. The staff members can provide the facility of online face verification to their clients. It will help the hotel staff members meet and greet the customer upon their arrival and provide services to them according to their needs. Hence, it will provide a good experience to the customers.
The software technology can be used to provide other facilities to the customers. For example, loyalty cards for regular clients, gift options, and discounts. As per Forbes, the majority of clients have the willingness to step out of their usual behavior and spend more money so that they can have a great experience. Hence, facial recognition technology has several options for the traveling sector.
Deal With The Flaws In The Protection System
There is another way that facial recognition technology can be beneficial and it can upgrade the security levels of the tourism sector. Such steps are important to take because fraudulent travel agencies, fake customers, and people involved in identity theft, such problems can be easily tackled by using facial recognition technology. The advanced version of the technology uses AI and ML algorithms that are supplemented by other techniques. The objective is to upgrade the level of accuracy in the process:
- 3D analysis
- 3D mapping
- Liveness detection
- Analysis of the micro-expressions
- In-depth analysis of the skin texture
The above techniques are in place because they are in place in order to check the validity of the information provided by the customer. Hence, such kind of information is in place to discourage scammers in their steps and reduce fraud attempts.
Experience Cardless Payments
The biggest creativity that can come from facial recognition technology is to have a space for the latest innovations. In China, a big number of citizens have registered themselves for the face recognition technology payment established by 7 eleven across different locations. The Alipay system has given an authentication-based payment system that allows clients to pay through a simple scanning step on their devices.
Face recognition technology has brought positive transformation and change into the traveling sector. The use of technology has become worldwide and in many areas of life because the software has so many applications. For example, Facebook, and Apple. The technology uses biometric markers to verify the identity of the customers. The technology has an advantage over PINs and Passwords, the facial features do not allow themselves to be replicated or stolen from the host. Therefore, the industries that use a lot of data or deal with huge amounts of data on a daily basis gravitate towards the technology.