Facial recognition AI headed for banking

Mr Wang demonstrates YITU's facial recognition technology for withdrawing cash from an ATM. Consumers will have less to worry about when they open a bank account or lose their ATM card, thanks to the rise of facial recognition usage. YITU Technology, a Shanghai-based startup for artificial intelligence (AI) and facial recognition technologies, has brought its AI technology to Southeast Asia by setting up its first international office in Singapore, said co-founder Lin Chenxi. This regional office is a testament to the company's vision of creating a safer, faster and healthier world since its inception in 2012. "Southeast Asia is a growing region and has a geographic advantage in proximity to China," said Lance Wang, general manager for Southeast Asia, Hong Kong and Macau at YITU Technology.