Death of Password Is Predicted by Biometrics Expert
By Harvey Chipkin
The death of the password is one of the “Top Security Trends” for 2020 as seen by James Strickland, CEO of Veridium, a biometrics firm. In an article, Strickland quotes research saying that by 2022, 60% of large businesses and almost all medium-sized companies will have cut their dependence on passwords by half. Other trends seen by Strickland include: identity fraud will increase with the explosion of the gig economy and app-based workers, leaving businesses vulnerable; artificial intelligence deepfakes (altered video content) will increase; e-commerce fraud will cost $130 billion by 2023; behavioral biometrics leveraging AI is set to be the final frontier in cyber security; and regulation and compliance will become even more critical. Veridium offers biometric services that identify individuals by physical or behavioral characteristics. According to the company, biometrics, unlike passwords, are part of us. They can’t be forgotten, lost or borrowed. And they are not easily hackable, making biometrics more secure than passwords and more convenient to use.