AI-Based Face Identification – Ultimate Solution to Combat Security Risks in Businesses
Companies are implementing artificial intelligence to verify customers. One of the critical factors influencing exceptional growth is the business’s decision to move its activities online due to COVID-19. Scammers are improving their methods so they may get beyond safety precautions and profit from organizational resources. Facial identification demonstrates its value in this situation.
This technology has a long record in the business world and is becoming more well-known. This technology’s long history in the business world is becoming more prominent. Face recognition technologies are assisting companies to expand and shape their future. Now let’s talk about why this technology has become common in the online community.
Use Cases and Pros of AI-Powered Face Identification
Every industry benefits from biometric face verification. The four main factors driving the demand for face recognition are listed below.
- Employee Monitoring
Face identification technologies are even taking the place of other biometric systems like voice and iris recognition because of their many benefits. The most appealing aspect of this verification system is how easily it can track a worker’s entry and leave hours. For authentication, employees only need to scan their faces; no login information is required.
A face identification system also has the benefit of being error-free in its operation. For example, when using fingerprint scanning, employees typically leave in groups rather than entering one by one. Face identification technology, however, renders this tactic ineffective. Every person entering or exiting the office building must undergo face liveness verification. Therefore, keeping track of employees’ working hours enables businesses to manage their operations more effectively.
- Enhanced Security Parameters
The frequency of cyberattacks is increasing significantly as the world progresses with digitization. Long, complex passwords are no longer an intelligent decision for protecting identities and other information. This is because scammers may easily break even the most robust passwords. Consequently, businesses decide on a strategy to safeguard their sensitive information using facial recognition adequately.
Face identification is an excellent option in this situation. On the contrary, customers whose data accuracy is 100% are stored in the system’s database may only access them through biometric verification. Because of this, face scanning identification is the best choice for any sector that handles large volumes of sensitive data.
- Enhancing Customer Experience
Traditional shopping is still an option, despite the growth of numerous digital businesses in recent years. Before deciding to buy something in person, customers research products online. The online shopping platform’s strict adherence to the KYC requirements increases customer confidence in the company. Instead of visiting in person, users would choose to make purchases online.
Additionally, offering a more personalized experience to customers are face identification services. When a customer returns to the platform, an AI-powered biometric face verification remembers their prior purchases and displays products based on their preferences. Due to this, deploying online face recognition technology is an excellent way to establish a good reputation and increase customer satisfaction.
- Fast Payments and Transactions
Face recognition technology has the potential to revolutionize payments, especially in e-commerce. Some businesses use modern verification systems to speed up checkout times and enhance the customer experience.
Payment gates use face recognition technology to validate users instead of complicated passwords so that transactions can be completed more quickly. Face identification requires the authorized user to start the payment process before it can be finished. As a result, fraud consequently falls off quickly.
Online Face Identification Use Cases
Almost all kinds of businesses are now implementing digital solutions to ensure they are helping real clients. They can track down criminals attempting to obstruct the verification systems using face-match online solutions. Digital face verification is used in the following scenarios worldwide:
Verification procedures in the e-commerce industry have improved thanks to encrypted solutions. Additionally, they have eliminated fraud and scams from payment methods. Legitimate customers simply need to show up with the necessary documents to complete the purchase.
The most sensitive data found in the healthcare industry include case histories, insurance information, and treatment records. Healthcare facilities and affiliated businesses must conduct face verification to ensure customer safety and prevent child exploitation.
In a Nutshell
Face identification technology is growing at a quick pace. This system’s main objective is to process human faces in a way that allows users to authenticate their identities. The customer’s information will be entered into the company database to facilitate future onboarding processes and other verification checks. Artificial intelligence has improved the effectiveness of facial recognition technology in preventing fraud. Without a doubt, it can help companies meet regulatory KYC/AML requirements. Industries in the modern world heavily rely on face recognition technologies to run their daily business. Due to the widespread use of the internet, face authentication technology is rapidly advancing.