Facial Recognition and the Digital Economy

toddpetersTodd Peters, ArcSoft’s President, North America, addresses the topic of Facial Recognition and how it will impact the digital future. For highlights from his recent presentations at GigaOm Mobilize in San Francisco, FutureM in Boston, stay in touch with us on Twitter at @ArcSoft

Facing the Dramatically Digital Future

Imaging technology is embedded in our smart phones, in self-driving cars, and, unfortunately, at some traffic lights. We’re even wearing it. And by 2020, as the digitization of business continues to increase, nearly everything we use will be embedded with cameras and sensors. During this time, in every industry, from transportation to medicine, The Internet of Things and its technology ecosystem will have created an $8.9 trillion market. Of that ecosystem, the combined IT and telecom market will hit almost $4 trillion, or 5 percent of the global GDP according to this year’s Gartner Symposium in Orlando, FL.

In essence, ‘we are looking at a new economy,’ says Peter Sondegaard, senior VP at Gartner and global head of Research at Gartner, clarifying, ‘This is the beginning of a new era: the Digital Industrial Economy [that will] result in revenue associated with the Internet of Things exceeding $309 billion per year.’

The Internet of Things is going to be needy in terms of processing all that information, too. And it will depend specifically heavily on our ability to capture and process images. Given that over 100 hours of YouTube videos and 500 million photos are uploaded and shared every single day, we’re looking at a massive amount of unstructured data. So how can we turn those pixels into actionable, visual data?

A tunnel composed with great images

This is where the power of intelligent imaging helps bring visual data to life and creates a whole new level of effective and mutually influential interaction that can bypass the vendor and reach the consumer directly. The smartest businesses are already doing this or ramping up to do so.

The Power of Big Data (So Cool it’s Scary)

man-with-mobile-devicesThe term ‘big data’ is being thrown around a lot these days. But what does it actually mean? Big data is, essentially, the sheer volume of dynamic information (records, files, images, etc.) as it pertains to the intelligent systems that are installed to collect and analyze it. George Orwell was onto something when he penned 1984 and coined the term ‘Big Brother.’ Today, Bill Maher addresses this exact same concern – with requisite humor in ‘New Rules’ – at the end of his nightly talk show. We’ll be needing to require New Rules when it comes to ensuring we do not compromise individual rights, and that ‘safety and security’ do not become convenient excuses to pry into people’s private information.

So how do we properly and securely manage this? It’s a huge challenge but an equally huge opportunity. And when powerful imaging technology is used for doing good, it can make our lives easier while also advancing other industries, such as healthcare, transportation and retail. Considering that big data is becoming an entire industry unto itself, the application of it, specifically with regard to facial recognition technology, possesses tremendous possibility for obtaining greater collective knowledge. And this intelligence will be in our pockets and on our desks at all times. By 2017, new device categories: mobile phones, tablets and ultra-mobile PCs, will represent more than 80 percent of device spending.

Making Data More Useable

Face detection

Three-dimensional facial recognition technology can assist big data with allowing businesses to gain deeper consumer insights.

Businesses can act upon these insights in real time. Knowing who you are helps them customize your entertainment through your SmartTV at home. And they can reach you when you’re on the go no matter where you are. In other words: businesses can connect and respond with their customers immediately, delivering what you want when you want it.

A Few Imaging Technology Predictions for the Digital Industrial Economy

As intelligent imaging technology comes to the forefront of a new normal in a new era filled with image-related data, we will be rising to the challenge of storing, sorting, and classifying this visual information in a moment’s time. Facial recognition technology and gesture technology will continue to enable people to connect with one another in more interesting ways, to make their lives easier, and to be more creative with their time.

And, last but not least, here are some predictions for this new future:

1. Kids born today will never drive a car

A white future carSure, they  might drive an old  “classic” ’05 just for fun but what will give them  a real thrill at sixteen are the incredible sensors, cameras, scanner and GPS data that allow them to be in command central without actually having to worry about steering, stopping or changing lanes. They can focus on their music, the scenery, their friends – all while feeling safe.

2. The FBI won’t have a Top 25 Most Wanted List anymore

Face scanningWhy? Because they’ll be able to catch everybody on it. Security cameras will be able to capture far better quality images even in low lighting and will use facial recognition and biometrics to identify criminals and terrorists. This sophisticated imaging will be the next big breakthrough in fighting crime.

3. All pro sports managers will be Ph.D’s.

NBA playerIn data analytics, that is. SportVU Player, a stats-platform, will include six cameras and exclusive software, enabling all 30 NBA teams to records and measure the ball movements and all players on the court – all at once. A continuous stream of data and statistics will be available, chronicling speed, distance, player separation and ball possession. Talk about rabid future fans.

4. Your home will recognize you faster than your family will

future digital living roomThat’s right. Your  home will become almost as ‘intelligent’ as any of the sentient beings that live in it. How? Again, high resolution cameras and sophisticated software that instantly recognize you  and your  intentions and lets you  in even if you’ve  misplaced your keys. It will know what room you’re in and all your favorite ‘settings’ – from temperature to lighting, from music to the way you  like the blinds adjusted.

To interview Todd or to learn more about facial recognition technology and the digital future, please contact us.

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