CYBERSECURITY
With use of biometrics continuing to rise , identity verification software is increasingly using AI to help keep consumers safe and secure
In today ’ s digital world , passwords are simply not secure enough . According to Verizon ’ s 2022 Data Breach Investigations Report , stolen password credentials were involved in 61 % of all company data breaches last year . In fact , with bots capable of attempting over 100 billion password combinations per second , the average eight-character password can be cracked in as little as 12 minutes .
Researchers from Stanford University and Tessian , Psychology of Human Error 2022 , found that approximately 88 % of all data breaches are caused by an employee mistake . As a result , it is evident that traditional authentication methods must be replaced with the latest biometric technology , such as specialised hardware sensors in mobile phones , fingerprint detectors , unique facial recognition cameras ( 3D ), or iris recognition .
Biometric technology has become increasingly popular in recent years , especially with the advent of two-factor authentication for online banking . The global biometric market ' s revenue reached US $ 43bn in 2022 and is projected to hit US $ 83bn by 2027 .
Biometrics provide increased levels of assurance to providers that a person is real by verifying a tangible , real-world trait as both something the user has and something the user is . “ The use of passwords for user validation is heavily reliant on limited human memory capacity ,” says Amanda Widdowson , Head of Human Factors Capability at Thales UK . cybermagazine . com 45