Companies adopt contactless forms of biometric authentication
Implications - Biometric authentication is becoming more popular as consumers search for verification methods that are both secure and efficient. As a result, companies are developing contactless forms of biometric authentication, which verifies identity according to a user's heartbeat, voice or eye print, rather than their fingerprint. Not only is this method perceived to be more hygienic, it is also argued to be more accurate, since dry skin, scars or environmental conditions are not a factor.
Workshop Question - How can your brand better prepare for the evolution of trust consumers have in Artificial Intelligence?
Trend Themes
1. Contactless Biometric Authentication - As consumers search for more secure and efficient verification methods, companies are developing contactless forms of biometric authentication that verify identity through heartbeat, voice, or eye print, enabling enterprises to differentiate their offerings with enhanced privacy and seamless user experiences.
2. Facial Recognition Technology - The use of facial recognition technology is becoming increasingly popular in various industries, including payment systems, ATMs, and credit cards, improving security measures and providing more personalized user experiences through innovative facial analysis.
3. Voice Biometrics - Voice biometrics are being used in the financial services industry to enhance security functions, allowing users to use their voice as a personalized password, improving efficiency while minimizing fraud, and increasing trust in financial services organizations.
Industry Implications
1. Financial Services - As the financial services industry continues to advance in biometric authentication methods, companies can offer enhanced privacy and personalized user experiences, making transactions more seamless and secure.
2. Retail - Contactless biometric authentication and facial recognition technology can be implemented in retail stores to provide a more secure and personalized shopping experience and increase efficiency in the payment process.
3. Technology - The use of biometric authentication methods in technology companies can improve privacy and security measures and offer innovative services in a data-driven world where privacy concerns are growing.
