FRT Applications in the Business Realm
Facial Recognition Technology (FRT) is a multi-million dollar industry that has become increasingly ubiquitous in recent years. According to a recent study, the facial recognition market will grow to USD 7 billion by 2024. Companies across all industries, both in the private and government sector, are investing in the growth of facial recognition technology. While FRT solutions play a huge role in security and authentication, it is not limited to these realms. There are constant innovations in the field of facial recognition that have brought about several new applications in the business world. Retail FRT solutions can be used to keep track of shopping behavior and classify shoppers based on age, gender, and demographic. It can understand what section of people spend time in front of a particular product, for how long, and other typical retail habits. The data analysis from these sources can give sufficient inputs that can be used to curate advertisements targeted at specific sectio...