From: RegTech Analyst
From customer authentication to cybersecurity, RegTech companies can leverage facial recognition tech in numerous ways.
However, a new report from the Financial Times has revealed big tech players from China are shaping facial recognition standards around globe.
The publication has obtained documents reportedly highlighting how companies like ZTE, Dahua and China Telecom are among the Chinese corporates trying the shape the new standards in the UN’s International Telecommunication Union for facial recognition, video monitoring, city and vehicle surveillance.
Those standards are generally adopted as policy by developing countries in Africa, the Middle East and Asia as these nations’ limited resources prevent them from adopting their own standards.
European and North American countries’ authorities usually set their own standards in collaboration with domestic industry players.
According to the report, being able to shape the facial recognition standard in developing countries gives Chinese companies a competitive edge against its competitors in the west.
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