Ways in Which Digital Identity Can Make Business Operations Smarter and Better

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Humanity has evolved significantly over the century with the advent of technology. The world witnessed the rise of the most brilliant minds. They may be long gone, but their inventions still live with us. Be it the most miniature bulb or a gigantic aircraft, most inventions of the last century continue to better human lives in many forms. 

Today, modern-day tech is constantly multiplying the technological outcomes bringing the past technology into application. For instance, who would have thought the identification of an individual could be done in a matter of seconds using digital tools? Artificial Intelligence (AI) and Machine learning are some tools that have enabled the same. Global operations rely on such technology as solution providers offer the most holistic and authentic digital identity intelligence services. For more information, you can check retalon.com.

Speaking of indentation intelligence, how can virtual security and authentication technology help optimize human operations?

Rapid Transit Systems

Even today, the concept of the Internet of Things (IoT) technology has not been exploited to its full potential. The majority of the rapid transit systems are still using manual identification methods. These methods create inefficiency and include losses for the transportation business. In contrast, digital verification systems can enhance the logistics of daily commuters. A diminished human effort can improve the efficiency of the entire network.

Such a robust system will eliminate ticketless travelers and minimize the time consumed for the verification process. Service providers like au10tix.com present exceptional examples of critical digital identity verification. These digital identity verification tools use AI, biometrics, and Near Field Communication (NFC) technologies to verify that the person is who he is claiming to be.

Additionally, adopting the Internet of Things technology and identity authentication systems will have a convincing and long-lasting impact on the global economy.

Shopping

Many of us have dreamt of spending our Sundays in bed all day but have ended up stuck in queues at supermarkets and gas stations. Tracking and recording the number of goods or services bought by individuals at public spaces like supermarkets can be simplified by using the internet of things. Such solutions will solve issues more than just congestion and traffic.

A holistically digitized mechanism by biometrics or unique identity can revolutionize the fluency of operations. Sensor and scanning techniques ameliorate and digitize carry bags, stock management, discount offers, etc., making the process quicker.

Similar technology may prove exceptional on many other publically used spots like gas stations. Frequent visitors can register their biometrics, and a cloud account can record all the transactions. These techniques will potentially eliminate all manual human effort.

Digital Currency

How can one miss out on mentioning the most spoken concept in this digitized ecosystem? Cryptocurrency is gaining more and more popularity with its increased use. Numerous new currencies have appeared, and more miners have engaged in blockchain technology. The idea behind a decentralized form of money, 100% virtual, will accompany security concerns. 

As the foreseeable future brings along a possible use of virtual currency, banking institutions will create demand for cyber security platforms. Over 350 professionals shared their thoughts on digital currency security concerns in a recent survey. Around 80% of these suggest that the potential of Machine Learning (ML) tools can feasibly reduce the risks. And 61% report that they have already experienced exceptional results.

Sharing Economy

Public transport and hospitality were quite unorganized a few years ago. Savvy entrepreneurs stepped in to organize it. As a result, we have Ola, Airbnb, Uber, Oyo etc. However, loopholes still exist in some of these operations. Many hotel chains still rely on physical documents for identity verification. These documents can easily be forged and duplicated. Yet, the verification process is still dependent on the same tradition.

The advent of technology offers many innovative methods of identification. Crucial documents carry a unique QR code that can track and identify any individual. Transit services like Uber use the OTP verification methods to determine the passengers. Uber has 93 million subscribed and verified users with 3.5 million verified drivers. P2P services like sharing electric bikes or bicycles are equipped with QR technology.

A mobile application is used to make payments and scan the codes to lock and unlock the assets to complete the transaction. These industries have a highly engaging audience. They require a robust, competent and credible identification system. Artificial Intelligence and Machine Learning tools are the answer to address these concerns.

Conclusion

The bottom line highlights the future of instant digital verification that will introduce humankind to a safer and more robust environment and leave no scope for malpractices. Such a safe and secure ecosystem is perceived as the most significant advancement of human evolution.