Biometrics research briefs: gig economy, decline of KBA, security solutions and emotion analysis
The gig economy is impacting hiring practices and underscoring a need for comprehensive screening programs for new employees, including contingent worker screening, identity verification, drug screening, continuous monitoring and social media checks, according to a new white paper from background and identity check provider Sterling and HR.com’s Research Institute.
The ‘Hiring Trends in the Age of the Gig Economy, Identity Fraud, and Social Media’ white paper shows that while nearly half of businesses surveyed report at least one incident of employment identity fraud (48 percent), 69 percent do not use fingerprint biometrics as part of their screening process.
“With the growing gig economy, identity fraud issues, and changing drug laws, the modern HR team must be informed, resourceful, and forward-thinking. Among the tools available that maximize safety and minimize risk are continuous monitoring, social media checks, and biometrics scanning,” states Debbie McGrath, chief instigator and CEO of HR.com.
The gig economy is affecting hiring and staffing practices at 64 percent of businesses, and while most do not use continuous background monitoring, 38 percent of those who do have discovered criminal activity, and 18 percent have uncovered fraud.
Voice recognition market grows to replace KBA
Voice biometrics are expected to significantly replace knowledge-based authentication, as KBA is being made inadequate by the large-scale use of stolen data in fraud, according to a new report from Mordor Intelligence.
The use of passive voice recognition technologies by banks and call centers is well established, and the report notes a recent partnership formed between Visa and Fortress Identity to use voice for cardholder authentication in Latin America and the Caribbean.
The growth of the market, however, will depend on more advanced algorithms being introduced to reduce false acceptances and false rejections. The report also considers the leading verticals in the market, regional market share, and the competitive landscape.
Security Solutions to approach $400B
The global security solutions market is expected to reach $397.6 billion by 2024 on 9 percent CAGR from $257.9 billion in 2019, driven in part by consumer security systems, research available from MarketsandMarkets forecasts.
Fire protection systems are the leading product category in the market in 2019, but security services such as video surveillance and access control systems are expected to take a larger share of solutions during the forecast period. Demand for do-it-yourself and spy cameras are also expected to increase over the next five years.
The security solutions market is expected to grow at the fastest rate in the APAC region.
Affective Computing market to quadruple
Systems for recognizing emotion are considered unreliable and potentially dangerous by some scientists, but the market is expected to grow by 32.3 percent from $22.2 billion to $90 billion from 2019 to 2024, according to a report now available from ResearchandMarkets.com.
According to the report, facial feature extraction will have the highest growth rate among software segments, while Asia-Pacific will have the highest growth rate of any region in the forecast period. The use of voice biometrics for transaction security is expected to boost affect recognition.
Affect recognition will increasingly be used to analyze customer behavior and personality, according to the report, which examines the role of the technology in several different verticals.