Future Impacts of AI on Image Recognition
Author : Abishek Surya RS 13th Jan 2021
The global image recognition market is projected to reach USD 86. 32 billion by 2027, exhibiting a CAGR of 17.6 percent during the forecast period.
The novel coronavirus pandemic has rebuilt the world by speeding up digitization trends. All economic sectors have been forced to deploy advanced technologies to transform their ancient business models. The pandemic has led numerous firms to deploy advanced recognition technologies such as facial recognition for supporting social distancing during the time of the pandemic. Several banking and financial firms are developing face recognition-based mobile payment services. Caixa Bank, S.A. started a project to roll-out a facial recognition technology at over 100 ATMs across Spain to offer touch less payment withdrawal services to ATM users. The drastic shift of business towards digitization is anticipated to boost the usage of AI-driven image detection and recognition technology.
Moreover, modern chronic disease diagnostic and radiology methods are utilizing intelligent image detection and analytics technologies that the AI promotes the adoption of image detection and recognition technology, which are witnessing concrete expansion across the healthcare sector.
Facebook recently conducted an annual developers’ conference outlining the social network’s AI plans to make systems that are higher than humans in perception. The image-recognition technology designed for the blind, that identifies what’s in the picture and explains it aloud. This indicates the multitude of useful applications that businesses worldwide will harness by using artificial intelligence programs and the latest trends in image recognition.
When Facebook started automatically tagging faces in uploaded pictures, nobody realized that this facial recognition technology would rise to tracking people down while walking on the streets. In the past several years, this disruptive technology has gained immense popularity, that it is now used everywhere, from airports to shopping centers, to law enforcement. With its growing predominance in national safety and security, the face recognition market is estimated to reach USD 11.30 Billion by 2026
Innovative Uses of Facial Recognition Technology on and after COVID
As facial recognition technology expands with time, few industries and countries apply the technology in inventive ways. China is rising to be the figurehead in facial recognition technology. Though a part of the technology remains a standpoint, its creative use is what amazes the audience. Some different countries following the trend are Japan and the United Arab Emirates. The US doesn’t stand back either. Look at these impressive ways of face recognition technology implementation.
- Face recognition is on its go, replacing cash and credit cards. At fast-food units like KFC, customers will simply smile into a self-serve screen to program the identification and withdrawal of money from banks. Some banks are also permitting customers to use face recognition rather than bank cards.
- The automobile brand Subaru has integrated facial recognition cameras to its Forester brand of SUVs. This is purposive detect when a driver is tired or about to sleep to take required actions to avoid accidents. This indeed is a tremendous innovation towards road safety.
- Tokyo Olympics has planned to make use of facial recognition to boost their security systems instead of relying on ID cards for manual checking, which has a high probability of transferring Covid to others. The authorization also planned to implement FR technology to allow media, competitors, or people outside to enter the premises.
- Dubai Airport additionally makes use of facial recognition technology to strengthen their security. A virtual vivarium fitted with eighty facial recognition cameras examines each passer to simply recognize criminals or offenders. Also, police cars are on their go-to to implement facial recognition cameras to spot criminals and wanted vehicles quickly.
- Facial recognition technology is no doubt making a good impact on national security systems, promising a secure and crime-free future. The US government is additionally creating the use of biometric exits and AI cameras to track people crossing their international boundaries while not correcting documents.
The Growing Concern
Though face recognition technology offers innovative and speculator use cases in social distancing, security, and police work, there are various challenges that it faces. Privacy being a significant concern, not everybody is happy with the storage of their personal or sensitive and personal data. A possible drawback is that the technology is the data and privacy breaches. The databases containing facial scans and identities are being used by various parties such as banks, police forces, government, and other defense firms and are hence prone to misuse.
Taking into consideration, the face recognition technology as a threat to their citizens’ privacy, several cities together San Francisco, Massachusetts, Cambridge, and others are planning to put a complete ban on real-time face recognition surveillance.
Moreover, what proposition will this technology eliminate crime remains to be a question. The accuracy of the system in detecting people who cover their faces from cameras or disguise themselves is yet a topic of dispute. However, to everyone’s relief, Face recognition is here to stay and is expected to help businesses as well as the public in a bigger way in the future.
Conclusion
It’s too early to predict where facial recognition technology will lead us in the coming years, but the increase in AI advancements is sure to widespread this technology around the globe. Major industries have already capacitated the FR capabilities to replace the traditional process of paying bills, opening bank accounts, checking controls at airports, and such. A few of these industries include healthcare, retail, marketing, and social media platforms.
In a nutshell, face recognition technology is predicted to predominate the world soon. The increasing usage of mobile devices and demand for strong fraud detection and prevention is predicted to majorly drive the implementation of this technology. Face recognition technology is revolutionizing the globe more than you think. It’s time to find out how this technology could bring added value to your firm. Contact our experts now! Reach us at media@techaffinity.com to know more about how we can support you in this Covid pandemic to your business with the solution of image recognition and leverage its benefits. Our experts will be happy to help you.