5 Facial Recognition Trends and Market Predictions

Worldwide digitization of consumer and business data has impacted the adoption of facial recognition technology significantly. Today, AI-powered computer vision services are entering diverse businesses to provide strengthened safeguards, personalized customer services, precise video analytics, and more. According to the Component’s Facial Recognition Market report, the facial recognition industry is expecting to reach $7 billion by 2024 in the U.S. It is, therefore, essential for next-gen businesses to harness the potential of facial recognition advancements to ensure better security and efficiency.

This blog post highlights the latest trends and developments in the facial recognition space and market.

1) Regulating Air Travel

Facial recognition is fast replacing identity cards and boarding passes at major airports across Europe, Aisa, and the U.S. For this, government authorities are using the vast database of citizens including images, videos, and records to identify individuals at checkpoints.

Here’s how the machine learning algorithms behind facial recognition technology can transform airport operations-

a) Facial recognition systems use pre-built photo galleries of passengers to reduce the boarding time of passengers from hours to several minutes.

b) Security cameras and video analytics can be combined to make identification of luggage and unattended bags easier and more efficient.

c) Also, security cameras with in-built facial recognition systems can detect criminals and prevent unlawful activities with real-time threat detection alarms.

Also read- The Transformative Power of Computer Vision Across Industries

2) Innovating Smartphone Features

While AI ventured into smartphones with facial recognition security lock systems, the technology is still in its embryonic stage. The technology is facing demographic challenges including racial discrimination and privacy concerns.

In a bid to monetize massive smartphone adoption, businesses can use facial recognition to support the following smartphone functionalities-

a) The popularity of social media platforms has given major boost to the introduction of AI-powered augmented reality systems in smartphones. Businesses can tap this opportunity to connect remote customers with live events for real-time engagement and brand awareness.

b) Online transactions via smartphones can be made more secure and efficient with facial IDs. It eliminates the need for time-consuming KYC processes and biometric verifications that disabled users to make last-minute transactions.

Also Read- Improving Industrial Processes with Machine Learning

3)  Enhancing Ecommerce Shopping Experience

The advent of artificial intelligence in the eCommerce industry began in the form of product recommendations by tracking users’ shopping behavior. However, with the advancements in computing power and artificial intelligence services, leading eCommerce businesses are deploying machine learning solutions across verticals.

Here’s how eCommerce businesses can accelerate growth with facial recognition advancements-

a) Facial recognition systems can now derive customers’ emotional and sentiment analysis for more personalized and appropriate product recommendations.

b) Also, facial IDs can be the potential future of card-less transactions. Global giants such as Amazon and others are already investing facial recognition for faster, more secure, and hassle-free purchasing experiences.

Also Read- Transforming eCommerce Businesses with Robotic Process Automation

4) Self-regulating Automobiles

AI-powered facial recognition system inside cars is the first step towards achieving the goal of entirely driverless cars. In its developing stage, facial recognition automates the following car functions while providing security-

a) 3D facial impressions of the driver are recorded and investigated to monitor eye blinking, head movements, and other signs of drowsiness. The system then triggers audio and video alerts to regain the driver’s attention and prevent accidents.

b) Also, automobile businesses can provide a personalized driving experience to drivers with facial recognition technology. The system can automatically adjust the mirrors, seat, steering wheel, and music system based on the identified driver’s record.

Related- Improving Business Operations | 5 Applications of Facial Recognition Technology

5) Tracking Workplace Movements

Facial recognition has already proven its mettle against fingerprint or ID card access controls at offices. Today, computer vision is empowering corporates and optimizing surveillance systems ith the following advancements-

a) With AI-powered security cameras installed across the organization, businesses can track employee and visitor movements in real-time. It enables businesses to prevent unauthorized entry in specific areas.

b) Also, rapid digitization of employee data can transform legacy reception desks at offices. Precise object detection capabilities of facial recognition systems can assist office staff in managing stocks, server rooms, office supplies, and more.

Oodles Custom Computer Vision Services with Facial Recognition Technology

We, at Oodles, develop applications with Computer Vision capabilities to enable object classification, feature recognition, segmentation, pattern recognition, object detection, filtering. We use comprehensive libraries like OpenCV and TensorFlow to facilitate optical character recognition and accurate machine learning models for diverse businesses.

Talk to our AI development team to ko more about our Computer Vision Services.