Facial recognition should move BRL 50 billion in 2022

The global demand for facial recognition systems has been driven by increased health hygiene concerns. The market, which had revenues of US$ 3.78 billion (about R$ 21 billion) in 2020, should move US$ 9.6 billion (R$ 53 billion) in 2022, according to a report by Allied Market Research .

Technology implementation has been limited by high costs and low accuracy. However, technological advances, in particular the integration with Artificial Intelligence (AI) and cloud-based services, could solve the bottleneck in the sector and provide a rapid expansion in the coming years.

Facial biometrics have advantages such as lack of physical contact and easy implantation. Therefore, it is the most used biometric technology for security and marketing purposes, being used by both the public and private sectors.

Uses of face recognition

Facial recognition can be used to provide security and expedite payments in supermarkets and pharmacies. (Source: Payface/Reproduction)Source: Payface/Reproduction

The use of facial recognition is widespread in South America. According to a survey by Surfshark, 92% of countries use the technology. In Brazil, several public security forces, such as the one in Bahia, use cameras integrated with facial biometrics to locate and arrest suspects.

The application of technology to ensure security is also present in residential condominiums. “Facial recognition is a highly sought after product today due to the fear of residents and visitors to touch the intercoms,” says Thiago Paulo, COO of Winker. The system, in addition to giving access to residents and visitors, can also verify the correct use of masks and monitor what people are doing in common areas.

Facial recognition is also being used by large companies and financial startups to automate banking processes, such as account opening and credit analysis, and to streamline payment in commercial establishments.

“This image analysis, which was previously carried out using the human eye, is now validated through an accuracy drive”, explains Thiago de Assis, CEO of Stoque. The startup Payface, for example, uses technology to eliminate the need to present a card, reduce lines and avoid physical contact at supermarkets Angeloni, in Florianópolis (SC), and Super Muffato, in Londrina (PR), in addition to Drogaria Iguatemi, in São Paulo (SP).

Reference-www.tecmundo.com.br

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