Wall Street Journal: Cliff Sheng on Facial-Recognition Technology
June 16, 2019
More companies in China, including one of the world’s largest insurers, are using facial-recognition technology on to assess potential customer risk.
Oliver Wyman partner Cliff Sheng was quoted about this issue recently in a Wall Street Journal story titled “What Your Face May Tell Lenders About Whether You’re Creditworthy.”
Some critics think the technology isn’t really being used to set prices but is a marketing tool to generate attention and make consumers more familiar with AI.
Cliff Sheng, a Hong Kong-based partner at consulting firm Oliver Wyman who has closely studied uses of technology by Chinese insurance companies, argues that there are more reliable ways than facial recognition to acquire users’ body-mass index. However, Mr. Sheng does say he thinks that the technology can be useful to insurers as a marketing tool because it gets people’s attention.
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