The Future of Facial Recognition

Facial recognition has a central position at the high-tension intersection of privacy debates, security requirements and consumer demands for increasing convenience. Digital identities are critical to companies competing to offer their services quickly while demanding less input from customers. Facial recognition is in many ways the best tool for verifying identity. It is considered the best biometric, and is ultimately convenient. In fact, it can require no action by the consumer, unless identity confirmation fails. 

Since the release of the iPhone X (and its groundbreaking facial recognition capability) many consumers have come to understand the allure of, and accept, facial recognition. And it is gaining greater adoption in all areas of e-commerce—especially in the security-conscious financial industry. FIthas already been accepted as valid identification method by Europe’s banks. JetBlue has started using it instead of boarding passes. And it is rapidly becoming big business: Allied Market Research predicts that the global face recognition technology market will generate sales of $9.6 billion in 2022.