Global A.I. Controlled Facial Recognition Market Expected To Reach $19 Billion By 2032

Palm Beach, FL – August 8, 2023 – FinancialNewsMedia.com News Commentary  – Facial recognition, a form of biometric Artificial Intelligence (AI), is an AI that performs identity verification through comparison among digital images or video frames and matches them with the storage of facial images within a database that is based on skin texture and facial features. This technology is becoming more popular in recent years. As it is driven primarily by the necessity for increased productivity and less human interference, facial recognition technology is booming. The future of facial recognition technology lies in its use in mobile and social media, as well as airport security. For example, the travel industry has started looking into the perks of facial identification. It helps speed up authentication and documentation and allows restricted access to sensitive areas.  This technology is evolving rapidly and improving and the use of this technology is highly versatile; therefore, it is quickly being adopted by many end-users. With this technology, users can enjoy safe and secure hotel stays. It can pay cashless, access entertainment, and check in rooms. Facial recognition technology is the digital mapping of a person’s facial geometry using Biometrics. It is a biometric technology used to identify and authenticate persons by comparing face photos to an existing database. The process of identification and verification is made easier with facial recognition.  A report from Market.us projected that the global facial recognition market size value was US$ 5.1 Billion in 2022. This market is expected to grow at a CAGR of 14.6% between 2023 and 2032. It is expected to reach US$ 19.3 Billion during the forecast period.  Active Companies active today in markets include:  VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY), Palantir Technologies Inc. (NYSE: PLTR), Microsoft Corp. (NASDAQ: MSFT), Qualcomm Incorporated (NASDAQ: QCOM), Advanced Micro Devices, Inc. (NASDAQ: AMD).

The Market.us report said: “The facial geometry comprises features like the nose’s width, the distance between the eyes, and the distance between the forehead and chin. These measurements are used to create the mathematical formula known as a “facial signature.” The stored signature compares their face’s physical structure to confirm an individual’s identity. Facial recognition can unlock mobile phones and is a reliable method of protecting data. This technology has dramatically improved business operations, including access, authentication, identity fraud prevention, and accessibility to accounts, services, and other aspects. Facial recognition platforms are increasingly popular across many industry verticals, including banking & financial, retail and online, transportation, media, entertainment, IT, telecom, Government, and the public sector. Biometric self-boarding gates have been installed in multiple countries to verify passenger identities using facial recognition technology.”

VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY) BREAKING NEWS:  VSBLTY’S AI TECHNOLOGY REPLACES SECURITY CARDS FOR OFFICE BUILDING ACCESS – Authorized Employees Quickly Admitted Via Facial Recognition Technology – VSBLTY Groupe Technologies Corp. (Frankfurt: 5VS) (“VSBLTY”), a leading software provider of AI-driven security and retail analytics technology, announced today that it has deployed a next generation access control system in Mexico.

Previously, traditional access control systems have been key cards, key fobs, or digital passwords, but each has its own security limitations. Today, utilizing VSBLTY’s AI-based Vector software, access control is more secure using advanced facial recognition. Employees now enter their workplace without physical checkpoints while CCTV cameras and AI-backed software verify their status. If the system identifies an unauthorized person, building security is notified immediately.

To ensure a safe workplace, this program provides a continuous search for unknown persons based upon an enrollment database of employees and other authorized personnel. Each day, approved visitors to the building are automatically logged and entered into the firm’s system.

The software is also not only capable of identifying a stranger (whose image is not in the records) attempting to enter an authorized area but can identify a terminated or previously problematic  employee whose image is in the system. This advanced program can also offer additional security, including weapons detection and suspicious behavior to trigger alerts.

By integrating VSBLTY’s leading edge technology with the client’s Video Management System, VSBLTY makes their cameras “smarter” providing real time monitoring and alerting. Utilizing 40 CCTV cameras, the system monitors the headquarters of the client, a major global retailer. Several hundred employees work in the two-story building.

“Employees forgetting passwords, losing keycards and fobs can be both an administrative nightmare and a financial burden for corporations,” pointed out VSBLTY Co-founder & CEO Jay Hutton. “This deployment of our AI-based Vector product for access control and building security alleviates many issues inherent in traditional access control systems. We anticipate the success of our advanced security system in Mexico will lead to many other installations worldwide,” Hutton added.  CONTINUED… Read the full Press Release for VSBLTY Groupe Technologies at:  https://www.financialnewsmedia.com/news-vsby/

In other active tech companies in the markets this week: 

Microsoft Corp. (NASDAQ: MSFT) and PayPal Holdings, Inc. (PYPL) and recently announced Microsoft’s integration of PayPal’s Pay Later solution in the U.S., U.K., Australia, Germany, France, Spain, and Italy. In addition, customers in the U.S. will soon have the option to pay with Venmo in the Microsoft Store. Venmo is currently available in the Microsoft Store on Xbox in the U.S. These new integrations offer customers more flexible ways to pay and help increase customer loyalty.

“For over 16 years, PayPal checkout has been a trusted method for Microsoft Store customers to purchase products like Surface devices and Xbox consoles and accessories, as well as Microsoft 365’s product suite,” said Kurt Campisano, SVP of Strategic Accounts, PayPal. “We are thrilled to expand our partnership with Microsoft to offer them access to our full suite of capabilities that will create a beautiful customer experience across the entire shopping journey.”

Qualcomm Incorporated (NASDAQ: QCOM) and Semiconductor industry players Robert Bosch GmbH, Infineon Technologies AG, Nordic Semiconductor, NXP® Semiconductors, have recently come together to jointly invest in a company aimed at advancing the adoption of RISC-V globally by enabling next-generation hardware development.

Formed in Germany, this company will aim to accelerate the commercialization of future products based on the open-source RISC-V architecture. The company will be a single source to enable compatible RISC-V based products, provide reference architectures, and help establish solutions widely used in the industry. Initial application focus will be automotive, but with an eventual expansion to include mobile and IoT.

Palantir Technologies Inc. (NYSE: PLTR) recently announced that it was selected by the Defense Information Systems Agency (DISA) to support coordination between federal and commercial licensees of the 3450 – 3550 MHz spectrum band. Palantir will provide its software platform to enable end-to-end automation that will enhance coordination between the Department of Defense and commercial spectrum licensees for shared use of the 3450-3550 MHz band within cooperative planning area (CPA) and periodic use area (PUA) coordination zone boundaries.

As part of an ongoing interagency effort to facilitate the shared usage of critically important mid-band spectrum, Palantir’s software will enable DISA’s Defense Spectrum Organization (DSO) to support formal and informal coordination processes between the Department of Defense and commercial licensees. Existing and future government activities in the spectrum band are vital to protect national security and ensure military readiness.

Advanced Micro Devices, Inc.  (NASDAQ: AMD) recently announced two new additions to the AMD Radeon PRO W7000 Series product line: the AMD Radeon PRO W7600 and AMD Radeon PRO W7500 workstation graphics cards. The new graphics cards are designed to tackle mainstream workloads across a range of professional industries, including Media & Entertainment, Design & Manufacturing, and Architecture, Engineering & Construction.

AMD Radeon PRO W7600 and Radeon PRO W7500 graphics cards accelerate everyday professional workflows by focusing on efficiency and increasing performance. The new graphics cards leverage the breakthrough AMD RDNA 3 architecture and are optimized to deliver leadership price/performance, as well as outstanding stability and reliability. Both cards feature 8GB of high-speed GDDR6 memory to effortlessly support data-intensive tasks and enable ray-traced renderings with incredible detail and realism. Building upon the previously launched AMD Radeon PRO W7900 and AMD Radeon PRO W7800 graphics cards, creators and professional users now have a broader selection of AMD Radeon PRO workstation graphics offerings to support an extensive range of professional workloads.

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM was compensated forty six hundred dollars for news coverage of current press release issued by VSBLTY Groupe Technologies Corp. by a non-affiliated third party.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

SOURCE Financialnewsmedia.com

The post Global A.I. Controlled Facial Recognition Market Expected To Reach $19 Billion By 2032 appeared first on Financial News Media.