With the advent of biometrics verification such as fingerprints, many new technologies want to be part of this biometrics verification process, and Facial Recognition Technology is one of them. As technology evolves, whatever is in our imagination has now become reality. It is very obvious to know what is happening in the world, especially when it comes to technology. After all, every new technology affects our lives to some extent. Facial Recognition technology is not new as it has already been used by many different industries in the world, and it has also become a part of our daily life as well. In this article, we find out what this technology has and how it can be proven as a stepping stone in the field of security, surveillance, and many more.
It is a technology that creates a unique identity for different individuals to verify and access sensitive information.
It is used in verification, authentication, and surveillance. In 2022, its market was at $5 billion, and by 2032 it is expected to grow at a CAGR of 14%, worth $19 billion.
Facial Recognition Technology requires a good combination of capable hardware and software to operate seamlessly.
Overall, this technology identifies faces through its robust datasets to verify and access sensitive information.
Facial Recognition technology works on the concept of deep learning, which is a subset of machine learning algorithms, known as Convolutional Neural Networks (CNN), that is used for image classification tasks.
It requires three important components to operate successfully.
Hardware for capturing images, intelligence for comparing captured faces with existing data, and a robust database of identities.
Facial Recognition technology functions in three phases:
In detecting, it finds a face in an image or video and also catches a glimpse of facial features that help to get better results in the other two phases of facial recognition.
In analyzing, face mapping is the main thing that includes the distance between eyes, the distance between forehead to chin, the depth of eye sockets, the contour of the lips, ears, and chin, and many other things.
All these things are important to consider when detecting your face as a unique identity. Face analysis is stored as a mathematical formula, called faceprint.
Like fingerprints, the face print is also a unique identity that every person has.
In recognition, it confirms the identity of the face and delivers the most relevant outcome.
The importance of this technology lies in its rich features like contactless verification and authentication of any person. Despite its privacy concerns, it is a very good option for industries like security, surveillance, or law enforcement agencies.
Yes, there is a lot of noise about its accuracy, bias, and data security, and all these things are matters of concern, but implementing strict regulations on facial recognition technologies is a great way to develop a more reliable resource for businesses and the government as well.
Another reason for its importance is that it holds benefits like reduced crime rates, compatibility with other technologies, better customer experience, faster processing, improved security, and many more.
It has also become significant because of its shortcomings. Every new technology has its black side and facial recognition has too. It's important to highlight the significance of its disadvantages, like privacy concerns, racial and gender biases, sometimes providing inaccurate results with older images and more.
So facial recognition technology is important because it provides us with a vision to see the big picture of any new technology's future. It holds some remarkable benefits along with some serious concerns that offer great insight into what the future holds.
As its use increased in every industry, many companies came up and started providing it. Industries like business, banking, healthcare, crime & law enforcement, aviation, borders, marketing, and many others are seeking the services of facial recognition technology. Companies that provide it are given below:
Its large database provides compatibility with instant face matching. It offers biometric data protection with template encryption. It is mainly used for security and law enforcement.
It offers Cloud API integration with KYC verification as well as face detection that assists with finding a face in images. It is one of the best options for different business types.
It is a very well-known facial recognition software across the globe. It has a huge database that improves accuracy and also has features like content moderation that helps to recognize useful content or inappropriate content as well. Furthermore, it is best suited for all cases of facial recognition technology.
It is a very old company that has sustained its credibility throughout the years. It is the best provider of biometric identification like fingerprint detection, iris detection, and now facial recognition software as well. Its facial recognition software is used for access control, ID verification, surveillance, and personalized customer experience as well.
There are many more players in the market for facial recognition technology, such as Luxand, Face Phi, Fujitsu, Noldus, and so on.
But before you choose any facial recognition software, it's very important to understand what your business needs and how compatible it is with your business.
The future of facial recognition technology depends on two factors. Accuracy and regulations. These two are quite a matter when considering the future of it. It depends on how accurate its software will be and how well it will be regulated.
As for now, its accuracy is not what we are looking for, and there are not enough regulations on it, which is debatable.
Given its increasing use cases, it has become very important that its accuracy be made more satisfactory and such regulation should be imposed on it which can eliminate all its concerns.
Overall, the future of facial recognition technology looks bright and optimistic, but many issues need to be addressed as soon as possible.
Now we are living in the digital period, where we are introduced to new technology very rapidly. Facial recognition technology looks promising and innovative. Yes, there are many concerns about its accuracy and privacy, but it's our responsibility to cater to this technology and make it a more reliable resource for businesses or governments.
What do you think about this technology? Leave a comment and join the discussion.
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