CEO & Co-Founder of Shaip is enabling organization demand by scaling their platform using AI technologies and data annotation tools for better process efficiency and employee productivity. In this guest article, he shared some detail about facial recognition in retail and how it digitizes the retail industry.
The Key Takeaway from the Article is-
- The covid 19 implications coupled with customer expectations have raised concern for organizations to go the digital way. This is the reason that the facial recognition market is expected to reach $16.74 billion by 2030. This technology gives tailored customer assistance to retail customers, offering them a personalized experience, and the ability to self-checkout after they are done purchasing.
- Using facial recognition technology organizations can also keep an eye on fraudulent activities and prevent shoplifting and this further removes the human requirement to keep an eye on people for fraud activities.
- However, the foundation stone of facial recognition is accurate data collection, and organizations can collect this data all across the world from multiple systems and can create their own heterogeneous database for building better facial recognition models.
Read the full article here: