Long gone are the days when facial recognition technology was limited to security and science purposes.
In this modern world, this prominent technology has opened exciting potentialities and opportunities
for individuals, businesses, and government entities.
Basically, facial recognition is a form of machine learning technology and used to identify and detect
human faces for a variety of purposes. The technology examines the subject’s facial characteristics to
perform biometric identification and verification. If you are wondering how it can benefit businesses to
promote growth and increase productivity, you have landed in the right place.
How Facial Recognition Technology can Benefit Businesses
Facial recognition technology is making its way into several industries including finance & banking,
security, and gambling, as it provides better means of access controls, security solutions, and customer
identification to help businesses perform better than ever before.
Below are some ways this amazing technology can benefit companies and businesses around the globe.
Increased Business Security
Since there are several facial recognition apps that users can download on their smartphones, they can
keep their devices protected from unauthorized access. Businesses can also utilize advanced facial
recognition solutions not only to protect their devices with confidential and sensitive data but to limit
access to different areas or departments of the workplace. Smart locks and facial recognition security
solutions are out there that businesses can make use of to prevent unauthorized access to sensitive
areas of the business. Such security solutions usually come with AI cameras and screens to detect and
identify faces to allow or prevent access.
Smart Payments
Online businesses and companies are incorporating facial recognition technologies into their payment
processing services to help users make payments without providing any personal and financial details.
Alibaba is a giant eCommerce company in china that is working on AliPay with facial recognition tech. As
a result, customers will be able to make purchases from the Alibaba store without providing personal
and financial details like name, credit card, or any other sensitive data. It will not only streamline the
payment processing but will also help prevent ID theft and payment frauds around the globe.
Greater Convenience
When facial recognition integrated security solutions are installed in the business premises, there is no
need to carry things like keys or machine-readable cards to gain access to the workplace. Employees can
easily get access to their departments and offices just by scanning their faces into the installed cameras
on security doors. It offers greater convenience and also helps prevent the use of things that can get
lost, manipulated, or stolen. Moreover, the technology can also be used with other business systems
and solutions to streamline processes like employee attendance and payroll calculation, etc.
Accuracy
When businesses are using traditional time tracking and payroll calculation systems, there is always
room for mistakes and human errors. Employees can easily falsify their hours or may forget to check-in
or out. Buddy punching is another time theft technique used by employees to cost businesses millions of
dollars. The availability of facial recognition integrated time tracking systems and tools successfully
eliminate those risks and inaccuracies to help you calculate employee hours more accurately.
Monitoring Employee Productivity
The advanced facial recognition business solutions and apps can effectively replace the outdated and
traditional forms of employee tracking like fingerprint scanning or magnet card readers etc. Identifying
employee faces at the time of check-in and check-out is pure convenience and helps businesses keep
track of employee hours and performance greatly. There is no need to scan fingers or swipe ID cards but
the system automatically identifies and logs their hours accurately.
Privacy
Almost all businesses have different access levels for different departments. While doing so, the
utilization of facial recognition technology keeps employees’ privacy protected. For instance, as
managers and other executives can access information like employee hours, payroll and attendance, etc,
Facial recognition solutions can easily limit employee access to specific departments or information that
are necessary for their jobs and duties while protecting their privacy.
