The value of the AI solution is to help security leaders cull through large amounts of video data to harness the power of a more predictive fraud reduction model and deliver much better outcomes.
AI-enabled video surveillance solutions are the new norm in physical security. Many companies highlight the strength of AI algorithms in their cameras, claiming to offer better protection and efficiency. However, Matthew Tengwall, General Manager at Verint, pointed out that one of the biggest challenges limiting this technology was bad customer experiences due to companies not delivering on their promises.
“AI technologies must not only offer but deliver on the promises of their sophisticated functionalities,” Tengwall said. “End users have been frustrated by past experiences with video analytics and now look for proven solutions that can go far beyond the traditional sphere of video analysis and focus on software tools and analytic applications to solve specific problems.”
The expectations around the use of video are evolving. More end-users in banking, for example, are looking to implement solutions that support intelligent security operations. Tengwall pointed out that many have decided to leverage AI-supported solutions and strategies to staff employees, manage traffic flow, identify trespassers in high-risk areas, and detect fraud.
“The value of the AI solution is to help security leaders cull through large amounts of video data to harness the power of a more predictive fraud reduction model and deliver much better outcomes,” he added.
Recent AI-related developments
Connectivity has been a buzzword for several years now. From connected devices to connected cars and connected infrastructure, many companies have been endorsing the potential of a connected world. But for this to become a reality, markets must embrace AI-enabled systems.
“From the power of artificial intelligence to intelligent devices, the idea of the connected world is being shaped by demands for productivity and optimized experiences,” Tengwall said. “But connections can’t happen without transformative technologies. It’s these emerging technologies — the AI-enabled devices and platforms being developed — that have changed how we work to secure our assets and infrastructures.”
Analytics continues to be of great interest across various markets. Powered by AI, video surveillance can provide new levels of insight to security teams. With facial recognition, you can get alerts on persons of interest when they appear in video surveillance streams. But this is only a basic idea: the use cases that we’ll see in the future are only now just coming to light.
Common use cases driving AI
AI has several uses in different fields. Speaking of financial institutions, Tengwall said that the current generation of video analytics could alert personnel to potential security incidents in real-time, no matter where they may be in the world.
“Cloud services are valuable in helping monitor operations remotely and empower stakeholders to share security data, even video clips, with authorized individuals,” Tengwall continued. “The advent of AI and machine learning technologies have even made it increasingly difficult for fraudsters to compromise the sensitive data of customers and employees, and these capabilities will only improve moving forward.”
There are other benefits too. Facial recognition can be used to identify a fraudster that visits multiple locations. Loitering detection is another growing use case; if someone stands at an ATM vestibule for longer than a specified period, the system can notify the appropriate stakeholder of the situation.
“While this action could involve ATM skimming or someone just getting out of the weather, having access to this kind of information propels an immediate and appropriate response,” Tengwall said.
AI beyond the hype
Unfortunately, a lot of customers deactivate AI features in their cameras because they don’t get the results they expect. This makes it all the more important for solution providers to increase customer awareness of what these devices can offer. Without proper understanding, customers may lose faith in this new technology, and that could impact market growth.