Facial Recognition Freeze Frame
The facial recognition market is expected to grow to $8.5 billion by 2025—a major jump from $3.8 billion in 2020.
Where that growth occurs, however, may be derailed by the continuously evolving legal and regulatory landscape. Following analysis of algorithms and increasing pressure from privacy and civil liberties advocates, regulatory bodies around the world are considering prohibitions or moratoriums on facial recognition technology use—especially by law enforcement and in public places.
To help establish these safeguards, the World Economic Forum worked with partner agencies to create a global framework for responsible limits on facial recognition.
Ocean Infinity announced in 2020 that it was creating a fleet of robotic ships named Armada. It's using iris recognition technology to authenticate the fleet's operators and control access to its Remote Control Centre.
Our company moves and processes $8 billion in cash every day. We help banks, retailers, and other organizations manage their cash, replenish their ATMs, store their currency, and more. Handling such critical and sensitive tasks means safety and security must always be our top priorities.
As facial recognition becomes increasingly pervasive, privacy concerns are compounded—prompting reconsideration of whether current laws appropriately balance its benefits and harms.
As data collection, storage, and analysis on a large scale gets cheaper by the day, surveillance and analytical tools like facial recognition allow the government to easily identify everyone at a protest—threatening anonymity.
The Indian government sought to overhaul its ID platform and found that an intuitive, efficient solution was just a touch away to reduce fraud and bolster this imperative component of its national project.
We need to democratize security. To do that, companies need to provide security solutions that are both robust and easy to use to empower users.
Biometrics offer the advantage of granting access to the person, not just his or her credential, making biometrics the more secure—in the sense that they cannot be shared—and most convenient option.
There’s a lot of jargon out there about facial biometrics. The ASIS International Security and Applied Sciences Community put together a helpful fact sheet to break down the basics for security practitioners.
With various passenger touchpoints and crucial air cargo handling responsibilities, ensuring the health of Talma’s employees was paramount to keeping air passengers safe and cargo deliveries running on schedule.
The financial services sector must meet a high bar when it comes to security. Facing constant risk of physical and cyber breaches, financial institutions must safeguard not only their employees and guests at physical locations, but also vast monetary resources, along with the data stores of customers’ financial and personally identifiable information.
The demands of a COVID-19 world are causing developers of facial recognition technology to balance innovation with growing privacy concerns.