BIG DATA AND AI-ENHANCED BIOMETRIC PAYMENT SYSTEMS: IMPROVING TRANSACTION SPEED AND ACCURACY
Santhosh Kumar Gopal, Vishwanadham Mandala, Seshagirirao Lekkala, Mohit Surender Reddy · European Chemical Bulletin · 2022
The integration of Big Data and Artificial Intelligence (AI) into biometric payment systems represents a transformative advancement in financial technology, aimed at enhancing transaction speed and accuracy. This paper explores the synergy between Big Data analytics and AI algorithms in optimizing biometric authentication methods, such as fingerprint, facial recognition, and iris scanning, to improve the efficiency and reliability of payment processes. By leveraging vast datasets and sophisticated machine learning techniques, these systems can offer real-time validation and fraud detection, minimizing errors and reducing transaction times. The study delves into various technological innovations, the challenges of data privacy and security, and the implications for consumer experience and financial institutions. Through a comprehensive analysis, this research highlights the potential of AI-enhanced biometric payment systems to revolutionize financial transactions, offering a robust framework for future developments in secure and swift payment solutions.