Facial recognition technology has been used for many applications as a consequence of quick developments of the immediate past. Face verification using AI is useful in a variety of settings, including banking institutions, hospitals, travel companies, and online businesses. Thousands of AI/ML algorithms are already in use, making facial recognition an excellent tool for retarding identity fraud. The ID verification sector is now heavily utilizing the potential of the technology. Therefore, the importance of AI-face recognition tools in a socially distant context cannot be overstated.
What is AI Face Recognition?
AI face recognization system recognizes and analyzes a customer's face. It compares their face to any government-issued identification paper. During user onboarding, it effectively eliminates the possibility of spoof attempts such as replay spoof attacks, deep fakes, face masks, and so on. Additionally, this technology is capable of identifying even unnoticeable features such as facial spots and lines.
The Historical Evolution of Biometric Technology
AI Face recognition has hitherto been the only subject of science fiction literature and films. With the passing of time, it has evolved into not only a necessary ID authentication method but also a global phenomenon. This did not occur in a few years’ time, to be fair. Approximately 60 years ago, a research group developed a device that could interpret the vertical and horizontal dimensions of a facial region, kicking off the image recognition revolution. Although the procedure was not automated, the metrics data could be saved in the system. Afterward, it was all progress from there. Facial data can now be evaluated in real-time and with a 98 percent accuracy rate.
Advantages of AI Face Recognition
Thousands of people get caught up in the web of identity fraud every year. For the business world, traditional fraud protection techniques and processes have become obsolete. As a consequence, automatic identity verification must be implemented. Different sectors from all around the world have progressively used and benefitted from its capabilities.
AI face recognition has several benefits, and it may be used by any company that wants to deliver trustworthy services to its customers while also providing ease and comfort. Some of the advantages of AI face identification are listed below.
Cannot be Replicated or Transferred
Biometrics, unlike passwords and paperwork, cannot be stolen or guessed. People can lose access to their online accounts, or two users may share the same password. The reason for this is because crooks hack them or use phishing or social engineering attacks to gain access to the credentials. According to Statista, there were above 637,000 distinct phishing attacks in the last quarter of 2020. Biometric information is one-of-a-kind, which implies that no two people have the same biometric pattern. When it comes to biometric identification, distinctness makes things easier.
Highly Secure
AI face recognition online is more secure than other authentication techniques. It may also be used as an extra layer of protection on top of passwords or KBA. For example, a user must first provide his password, which is subsequently validated using biometrics.
Swift Onboarding
A person must first provide his information and then authenticate it by submitting papers in order to complete online proof of identity. A person is certified and onboarded in seconds using a facial recognition system. A biometric scanner can authenticate a person in a matter of seconds. It is quick and reliable because it does not require any additional processes.
Spoof-Proof
Documentation can be reproduced, but not biometrics; replicating a person's face or palm traits is extremely difficult. As a consequence, it's practically spoof-proof.
Detecting the Live Presence
Only biometric authentication can confirm that a person is live. The liveness of the picture is validated by the AI system and the e-KYC agent.
Better Customer Experience
It provides a better customer experience since a user just needs to upload a selfie, and the back-end software does all of the verification. Furthermore, once the verification is completed, authenticating the user for the future becomes even faster. It is because access after the first time registration is a problem for users in the event they forget their passwords.
