December 20188 Although facial recognition technology has been around from 1960´s, it was again Apple who made this technology household name. After the launch of iPhone X, facial recognition opportunities have truly hit the mainstream. Besides locking your phone with glance, everyone is currently looking for possibilities to add face as the new data point. Facial recognition market is expected to garner $9.6 billion by 2022 growing over 20% annually. All the usual big technology players (Amazon, IBM, Google, Microsoft) are developing their facial recognition technologies. There is also a vibrant scene of companies specialized in Facial recognition (Kairos, Affectiva, Face++). Currently the highest-valued AI start-up is Chinese facial recognition technology company Sensetime. The company is working on facial and object recognition technology for Chinese government that accurately can spot people using security cameras. They are also collaborating with Honda on object recognition for its driverless car research. It is clear that facial recognition provides effective tools for finance (payments with your face), law enforcement (criminal identification) and healthcare (identifying illnesses from patient´s features). As marketing has become more data-driven and technology-driven, facial recognition is definitely an avenue that forward-looking brands should explore. Facial recognition technologies are not without their threats both to consumers and companies. I have compiled some of the best use cases for facial recognition and also analyzed potential risks you would need to watch out: Good: More effective targeting and personalized content Using face as a data point enables marketers to target their audience more effectively. From Riku VassinenBY RIKU VASSINEN, HEAD OF DIGITAL TRANSFORMATION, JWT SINGAPOREFACE AS THE NEW DATA POINT: THE GOOD, BAD AND THE UGLY OF FACIAL RECOGNITION TECHNOLOGIES IN MY V EW
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