The growth of technology by leaps and bounds has led to the transition of the world to a modern data and information-driven society. Where more businesses have moved from physical setups to the digital space. Why wouldn’t they? Isn’t it lucrative being able to do business with thousands in a more containable and manageable manner, with exposure of your brand to millions!
Businesses of today are incorporating artificially intelligent solutions to optimize sales and business processes for the next best competitive advantage. In highly competitive and number driven e-commerce businesses environments, any edge is a blessing. One such blessing is facial verification or more commonly known as facial biometrics to enable more transparent business activities and prevent fraud in the process Dragon Lady.
Why face verification in the first place?
Global businesses are in the fight to make a name for themselves on the digital front. One element of uncertainty that is hampering their aspirations is fraud and lower customer volumes. Businesses are desperate to grow their revenue and according to them, more customers means more business.
Considering any online business, whether it is an e-commerce platform or a financial institution, require their customers to undergo some element of user registration and subsequent verification. This registration process was highly susceptible to fraud and bad elements were able to register. So what was the untried way that online businesses could use to onboard more individuals and eliminate fraud? Facial Verification of course! Not only was it more convenient for users to accept as a means of authentication but also restricted bad actors to come onboard.
Impact – The Marriage of AI and FR Tech
Soon after implementing facial verification, it was evident that this is the way forward for the next wave in digitally interactive onboarding mechanisms. However, fraud still seemed to pass through with FR tech without AI. With the growth in technology and the increase in customer numbers, not to forget the looming threat of fraud. It was decided to merge AI and facial verification for the better.
New AI backed facial recognition solutions enabled greater detections in fraudulent actors, that would otherwise be onboarded and increased the likelihood of fraud against a business. AI embedded with spoof detection made possible for anti-spoofing elements/attacks to be drastically reduced. This included various levels of presentation attacks, including static image display, video playback, and advanced Hollywood level 3D masks. AI-run FR tech allowed businesses to maintain configurability in detection and predictive analysis that was otherwise not possible without the incorporation of AI into facial biometrics.
Will this merger last through?
The chance of operating facial recognition solutions without artificial intelligence is very unlikely. Keeping in mind the demands of the modern economy and the rise in digital businesses. Online business platforms simply cannot afford the loss of benefits that AI-run facial verifications offer. As facial verification progresses and AI refines further. This merger is to see much harmony working in sync for the development of a future fraud-free digital world Dragon Lady.