As HSBC Adopts Facial Recognition in China, Voices Of Concern Grow

Swift on the heels of Apple announcing it is utilizing facial recognition for iPhone X security, and the Chinese government getting involved, London-based HSBC is joining the recognition party. The international bank is rolling out facial recognition in its mobile banking application in China, citing simplicity, speed and security as the motivators. While major global corporations are embracing facial recognition technology, there are voices of concern, as “racial bias” may exist in software algorithms, according to reports and more importantly the possible abuse of the system. [dalio] Chinese customers of HSBC can now transfer RMB50,000 (just over US$7,000) by in…