Facial recognition technology is not new. It has been around for some time. And although it has already found plenty of extensive ways to be incorporated in security, it is just attracting the spotlight in the business industry. Ever since technology was introduced, it has been the central topic for different debates around ethics and privacy. However, no one can deny that this tech offers many useful advantages. This technology will become an important component of workplace safety and is going to revolutionize the business world.
Top 5 Benefits of Facial Recognition Technology in Business
Facial recognition technology is a type of machine learning. It involves software that will run complex algorithms on and around an individual’s facial features. It will then try to match them with an identity that already exists in the database. The technology is very similar to iris or finger recognition. There are many advantages to this tech. Some of them are as follows:
#1. Improves Security
There has been an increase in cybercrimes as of late. Many companies are now actively trying to better their cybersecurity systems. One way that you can use to prevent being a victim of a cyberattack is to use complex passwords. However, that too sometimes is not enough. This is because sometimes, even the most robust, seemingly unbreakable passwords become vulnerable to attacks. So, what should you do to be safer? Well, try facial recognition as it is a much safer alternative. This tech is simple to use and impossible to hack or break. Only those users can have access to the premise whose facial features have been recorded in the database. This technology is crucial for those businesses that deal with highly sensitive data.
#2. Enables Faster Payment Option
While this domain still needs to be explored, facial recognition technology has the tendency to completely change payment systems. This will hugely impact the e-commerce industry. A handful of websites are already experimenting with facial recognition technology for quicker checkouts. And if it’s successful, then this tech will ultimately lead to better user convenience. So, how will this tech work for payment? Well, instead of using e-wallet or card details, the payment gateway will ask buyers to use their facial appearance to complete the transaction. This tech will prevent the misuse of sensitive information like account or card details. The chances of fraud and criminal transactions will also reduce significantly.
#3. Allows Convenience to Retail Owners
Although the e-commerce industry has boomed during the last ten years, this doesn’t mean that brick-and-mortar businesses have gone obsolete. A popular trend, now quite evident, is that a lot of customers browse the web for their research but only finalize their purchase when they visit the outlet. This fact is especially accurate for things that demand heavy investment like a television or an air conditioning unit.
Facial recognition gives online retailers exactly what their offline counterparts have which gives them an obvious edge over others. Online stores have already become a much better option for shoppers as they provide buyers with a personalized experience. And with this technology, e-commerce stores can really step up their game. Brick-and-mortar stores can also use facial recognition tech to give their customers a better experience. Also, the tech can prevent attempts of shoplifting.
#4. Helps In Tracking Employee Productivity
Facial recognition technology offers a lot of benefits and can easily replace biometric tracking in the office or workplace. The fact that this tech monitors the “in” and “out” timings of workers and employees is one of the greatest benefits that it offers. Employees will no longer need to scan ID cards or fingerprints for clock hours. Instead, the system will record it automatically, including when they come and leave. Another advantage of this tech is that it will help you avoid the risk of incorrect entries.
#5. Provides Greater Accessibility to Differently-abled Employees
Oftentimes, traditional biometric tools can be a challenge for differently-abled people. This is especially true for someone who is visually challenged, like those who have partial blindness and impaired eyesight. This can prevent them from accessing their workplace. A face recognition software can eliminate this obstacle, allowing the differently-able to easily explore their workplace without any issues.
Conclusion
Facial recognition technology offers a lot of advantages to businesses such as the ones mentioned above. Considering how useful this tech is, it wouldn’t be a surprise if its usage becomes more mainstream and widespread. Companies may have different rules or hiring styles like centralized and decentralized recruitment, they may all opt for facial recognition software to further enhance the security of the workplace.
