FRT Applications in the Business Realm
Facial Recognition Technology (FRT) is a multi-million dollar industry that has become increasingly ubiquitous in recent years. According to a recent study, the facial recognition market will grow to USD 7 billion by 2024. Companies across all industries, both in the private and government sector, are investing in the growth of facial recognition technology.
While FRT solutions play a huge role in security and authentication, it is not limited to these realms. There are constant innovations in the field of facial recognition that have brought about several new applications in the business world.
FRT solutions can be used to keep track of shopping behavior and classify shoppers based on age, gender, and demographic. It can understand what section of people spend time in front of a particular product, for how long, and other typical retail habits. The data analysis from these sources can give sufficient inputs that can be used to curate advertisements targeted at specific sections of the audience to improve their shopping experience. Facial recognition data, combined with disciplines like neuromarketing, make it possible for retail giants to understand what kind of subliminal brand messaging should be offered to consumers to influence their decision-making process.
One in six accidents that involve trucks and other commercial vehicles can be attributed to driver fatigue. Facial recognition technology can be deployed to keep track of a vehicle and its driver at all times. It can go into as much detail to find out if the driver’s eyes are on the road, if there is a tilt to the head due to fatigue or if their blink rate has increased over a certain span of time. This data can be passed on to a fleet manager, who can alert the driver and prompt them to take a break if necessary. FRT solutions in fleet management can also detect the number of passengers in the vehicles, which helps to prevent any unauthorized ingress.
Security and surveillance
One of the critical use cases of FRT solutions is in the field of security and surveillance. Facial recognition and analytics can be used in crowded areas such as schools to prevent unauthorized entry and to identify and monitor people. Law enforcement agencies can use FRT to locate missing individuals, fight identity fraud, identify criminal masterminds, and prevent unauthorized access to restricted areas. FRT is also used by airport authorities to streamline the process of immigration. Intel is partnering with NEC to provide facial recognition security systems for the Olympics set to be held in Tokyo later this year. This will drastically reduce waiting times in queues and improve the overall level of security at the event.
FRT solutions can be used for attendance tracking in both schools and workplaces. Traditional attendance monitoring systems are not only time-consuming, but there’s also enormous scope for error. Tim attendance management systems powered by FRT solutions scan faces and match them against a pre-existing database. This method reports more than 99% accuracy in identifying the individual.
Facial Recognition Technology has grown by leaps and bounds in the last decade, and it will continue to have the power to enrich people’s lives with its impressive capabilities. However, it is not without its challenges. Data and privacy breaches are of significant concern to organizations all over the world as the vast amount of faceprint information available on individuals has the potential to be misused. Consequently, many government organizations have banned real-time video surveillance. Though it is challenging to predict the future of FRT, it is undoubtedly a key to helping us face the future.