In the widespread digital landscape, passwords are not enough anymore. According to Verizon’s recent ‘Data Breach and Investigation Report’, 61% of the companies breached last year were by using stolen credentials. Passwords seem to make no sense anymore because the bots can crack passwords in 12 minutes and attempt 100 million combinations in a second. As this technology grows, a few hundred accounts are likely to be hacked easily in minutes, with absolutely no effort required.
Research conducted by Standford University on ‘The psychology of human error’ in 2022 found that approximately 88% of breaches happen because of employee mistakes. As a result, new authentication measures such as biometric technology must be used to avoid unwanted human error. Biometric authentications, such as unique facial scans, iris scans, fingerprint detection, etc., would help authenticate a person’s identity.
With the advent of two-factor authentication, biometric technology has become highly popular in the last few years. The revenue generated through biometric technology has reached $43 billion in 2022 and is expected to reach $83 billion before 2027. These are evident numbers to prove the reliance on biometric authentication. This is a form of technology that requires proof of the user or something that the user processes. The reason for organisations to shift to biometric technology for authentication is that it is more reliable and because it requires tangible proof of the person. Another reason would be that human memory is limited and can be relied upon only in some instances.
On the other hand, biometric technology does not require human intervention and can help by remembering identifications to recognise on your behalf. Since the memory of a human is limited, there is a high chance that the same password might be used for all security-related authentications. This makes them vulnerable and prone to numerous breaches, data theft and cyber-attacks. Biometric technology, such as facial recognition systems, can be used to authenticate the identity of a person and can also help eliminate the risks of breaches. Hence, this technology is widespread in mobile devices to secure better sensitive data and commercial computer equipment and applications. Research shows that millions of accounts protected by PIN codes and passwords have been constantly compromised and breached.
The Role of AI and Biometrics in Authentication
Identity verification software using AI technology enable safe and secure transactions. Face biometrics can determine a person’s identity just like a selfie, and this helps provide limited access to the users, making the network more secure and breach-proof to cyber threats. AI-powered liveness is integrated to ensure biometric match and liveliness proof. This technology uses facial recognition to determine if the biometric sample is captured from a living point of capture. AI is found to be able to check hundreds of parameters in a matter of seconds. The combined technology of AI and biometrics enables us to identify faces with masks, clear blurry documents, fake videos, photos etc. This is convenient in financial payments and data transactions requiring authentication for the process.
Relevance of Biometrics in building trust
With the rise in online fraudulence, advanced technology such as this plays a vital role in identification and authentication to protect data and prevent cyber-attacks and breaches. This technology has also been tested in healthcare, banking and so on. It has proven essential and influential in avoiding unwanted authorisation and limiting human errors. This process cannot be bypassed and can be a fortress for cybercriminals.
With the continuous advancement in AI and biometric technology, the possibility of this seamlessly streamlining our lives is endless. This technology does not just have a vast ability to evolve but will also significantly impact our lives and the way we work. Trust is a crucial aspect of any business. This technology can make the process easy. Users of this technology should be comfortable that it is only a security measure to keep malicious attackers far off, which can help gain the consumers’ trust.