According to IBM, 20% of breaches are caused by compromised credentials. In 2021 25% of businesses have completed deployment of AI-based security, while 40% are partially deployed. Investing in AI-based security can save a business up to $3.81 million in 2021.
Biometrics technology can be split into three domains: identification, verification, and authentication. Identification is used when the system wants to know who the user is. Verification is about using that biometric information to determine if any other information is associated with the user. Finally, the goal of authentication is to understand if the identity the user claims to be is correct and authorized to access the services and data they are requesting.
One of the most important takeaways for any business considering biometric security methods is that it is not always wise to rely on only one form of biometric technology, i.e. unimodal. Instead, a multimodal approach that uses more than one type of biometrics is much more secure. It can include facial/voice recognition, iris scanning, or fingerprints authentication.