Digital identity verification is the validation that the person is who they say they are, through the use of computer technology. Today, with the rise of e-services such as banking, government services, and healthcare, digital identity verification has become a widely used method of accessing these platforms.
However, with the increased popularization of e-services, identity fraud cases have also seen a big increase. In most cases, these crimes involve accessing accounts with the identity of the victim and carrying out operations such as taking out credit, making transfers, subscribing to other services, etc.
In fact, in 2020, consumers lost more than $ 56 billion due to identity theft and fraud.
It is best for businesses to guarantee strong identity verification and fraud prevention, as every little mistake in this process can put the customer at risk and damage the reputation of the business. Ensuring a secure account sign-in process builds trust with users and attracts and retains more customers.
Companies began to incorporate AI to create a more reliable verification system. Let’s find out what exactly makes AI solutions a safer and faster verification method.
One of the most popular verification methods when registering an account is using an ID card. For identity verification, the user uploads a photo of their identity document to the system and the system needs to validate its authenticity.
Using Optical Character Recognition (OCR), confirmation of the original text in microprinting and facial recognition, artificial intelligence systems can recognize if the document represents the person claiming to be the owner, if it is valid, as well as details such as the issuing country of the document and the type of document (passport, ID, driver’s license).
AI-powered ID verification is a great way to authenticate users at scale without sacrificing security while still gaining an edge on scammers.
The facial recognition verification method is something that most of us have probably done ourselves. Most of today’s modern phones come with facial recognition software that allows users to not only unlock their devices, but also to log into their accounts, make a payment, and much more.
Companies use the same technology when they ask users to use cameras for facial recognition. The AI system analyzes users’ faces by data points such as the distance between the lips and the eyes, the height of the cheekbones, the distance between the eyes, etc. and verifies the authenticity of the user based on their facial expressions.
With the help of artificial intelligence, users can access their accounts more securely and at a faster rate, while companies can avoid fraudulent activities.
Voice assistants like Siri, Cortana, Alexa or Google Assistant have become very popular. A new research found that by the end of 2023, there will be 8 billion digital voice assistants in use.
However, today, companies allow users not only to give voice commands, but also to use their voice as their new password or authentication method.
With the help of artificial intelligence algorithms, it is possible to identify and recognize users based on their accent, tone, speed, etc.
Financial institutions are one of the biggest adopters of these technologies. Customers are being verified with their voice during the first seconds of calling the service centers. This helps service personnel avoid the repetitive process of security questions and secret words, but also comes across as a more secure verification method, making it difficult to hack.
The digitization process has been further accelerated by the ongoing pandemic, requiring companies to strengthen their security procedures. The benefits offered by artificial intelligence systems for authentication make the solution the best bet to guarantee customer security.
In addition to improved security, companies automate certain operations, eliminating the need for in-person verifications that make the customer experience more pleasant and enjoyable.
In case you want to take your business security to the next level, schedule a free consultation call with our AI experts and let us show you how our services will make your business even more secure.
Video cameras in stores became an everyday occurrence. And while many of us are concerned about the privacy issues that the rise of video surveillance brings, we cannot forget the benefits that come with this technology.
Having CCTV cameras on your premises warns potential thieves of the risk of arrest and reduces the likelihood of theft.
Since many private companies cannot afford private security, they consider security cameras to be the best means of ensuring safety and avoiding the risk of loss and damage.
However, while video surveillance helps companies identify and catch criminals red-handed, it still has its shortcomings, namely the human error factor.
Because these systems require the full attention and dedication of human staff, certain important and noteworthy events may go unnoticed or may be overlooked.
This is exactly where Artificial Intelligence (AI) comes in and helps companies take their video security to the next level. Let’s explore how exactly AI does that.
What is Artificial Intelligence and how is it used in surveillance?
Artificial intelligence (AI) is the simulation of human intelligence using machines. Artificial intelligence systems use data to identify patterns, make predictions, and take appropriate actions.
AI’s ability to automate tasks with high precision, increased speed, and reduced costs made the solution very popular and widely used in almost every industry, and the security sector is no exception.
AI operates the same way in surveillance. Machine learning (ML) algorithms are trained on stored data, video footage, from surveillance cameras, where they learn to detect, classify and recognize different objects or identify people.
Such AI-powered solutions can be integrated into the company’s security system, where it is possible to automate visitor tracking, prohibited object identification, employee monitoring, and other important details.
What are the benefits of AI-powered security cameras?
Let’s explore the benefits that Artificial Intelligence-powered video security offers businesses.
As we mentioned above, since regular security cameras are operated by real people, there is room for human error. Perhaps in a small store, this form of supervision will be effective, however, keeping track of what is happening becomes especially difficult in a large facility with a considerable number of visitors.
Our attention span can be adversely affected by several factors, one of which is repetitive and mundane tasks. Studies have shown that the average human’s attention sap begins to decline significantly after just 20 minutes.
With the help of the data, the AI-powered system can be trained to identify each event and trigger alarms in the case of an unusual occurrence or behavior. With AI video surveillance, regardless of facility size or a number of visitors, companies can be confident that no detail or threat will go unnoticed due to fatigue or human error.
A business may have numerous cameras on its premises, however, it requires multiple staff shifts to ensure uninterrupted monitoring, which is not possible for most companies
However, with the help of artificial intelligence, companies can overcome these challenges and have uninterrupted monitoring. Even if the location is closed, AI-powered video systems can provide real-time surveillance and analysis of the location’s security status and trigger alerts in the event of an urgent situation, without the need for human interference.
Not only can businesses save money by freeing security personnel from continuous video screen monitoring, they can also significantly reduce false alarms caused by user error or non-threatening triggers such as animals or flashlights.
Monitoring facilities and ensuring the safety of your staff and customers is of the utmost importance, therefore AI-powered video surveillance can be a great tool for companies to automate and transfer monitoring to a self-learning, intelligent security system that can guarantee higher safety, higher precision and cost-effectiveness.
If this solution and its benefits are interesting to you, and you would like to know more about how it can benefit your company, schedule a free consultation call with our AI experts and let’s discuss together how our services can help make your company more safe.