Investing in Biometrics Technology – The Wave of the Future
The term biometrics literally means life measurement. Leaps in science have made biometrics a rapidly growing field since the start of the twentieth century, and those leaps and bounds have only catapulted biometrics technology in the twenty-first. Investing in biometric technology now could mean taking advantage of something that is sure to sweep the future by storm. Biometrics is currently being developed to analyze voice behaviors, signature dynamics, and fingertip patterns. The genetic makeup of DNA is analyzed with biometric technology as are retinal scans, facial recognition, and even finding patterns in human veins.
Investing in biometrics is an attractive venture because global concerns have made it necessary to implement better security in airports, border crossings, federal buildings, sea ports, and major cities. Even the United States CIA established a venture capital fund in biometrics called In-Q-Tel. Airports all over the world are using the most advanced technologies to enhance or replace existing surveillance systems to better monitor passenger activity and potential terrorist threat. Even closer to home, camera installations at stop lights are causing significant reductions in intersection violations, cutting down on car accidents and reducing the chance of fatalities.
What’s more, the global demand for surveillance technology alone is only expected to increase. This doesn’t even take into consideration the amazing use of facial and voice recognition technologies which are slated to play an important role in the future. Already in Europe, national ID cards and biometric passports are being seriously considered. Smart cards are already in widespread use, having integrated circuits that allow the cards to contain memory, providing stronger security than cards without the technology. Smart cards will most likely replace traditional credit cards as the technology is perfected and continuously improved upon.
With so much of the future riding on biometric technology, investors are jumping on board. Before taking the plunge, however, do some careful research. Is it affordable to invest in biometrics? The fact is that biometrics investments are affordable, but they do require a more expensive investment initially than other investments. Does the technology violate any individual’s privacy rights? If the answer is yes, it’s probably not a good idea to invest. Will the technology work for all users in all climates? Some biometrics technology like fingerprint authentication may not work in colder climates, and even advanced age can be a factor in the effectiveness of the technology. Consider all options and stay on top of current develops when considering biometric investments.