Expansion of high-precision face recognition use forFinTech,Digital ID and more –
New Delhi, August 25, 2021: NEC Corporation (NEC; TSE: 6701) today announced that its face recognition technologyranked first in the world in the most recent face recognition technology benchmarking test (FRVT Ongoing, *1) conducted by the globally authoritativeU.S. National Institute of Standards and Technology (NIST). In particular, in the large-scale “1:N Identification”, which is largely used for FinTech and requires higher precision for applications that includecashless payments, public transportation anddigital ID, the system was evaluated with an accuracy rate of 99.78% for still images among 12 million people(*2).
In NIST benchmark testing, NECalso ranked first following the face recognition benchmark in 2018 (FRVT2018, *3).
NEC was one of the first companies in the world to develop and commercialize a face recognition engine that achieves high accuracy even when masks are worn in response to the spread of COVID-19. In this way, NEC works to further improve the performance of its core face recognition algorithm in order to quickly respond to emerging social needs. In addition, based on the NEC Group AI and Human Rights Principles (*4), NEC will continue to give top priority to privacy considerations and respect for human rights when using data such as AI and biometric information.
Going forward, NEC will capitalize onits portfolio of biometric identification solutions, ‘Bio-IDiom’ (*5), whichincludes face recognition technologies, and‘NEC the WISE’ (*6), a leading-edge group of AI technologies, including video analytics, in order to expand their use among applicationsthat require a high degree of reliability, including cashless payment solutions for FinTech, public transportation, and digital ID forlarge-scale facilities and functions, such as airports and sports events.
Corporate Comm India (CCI Newswire)
