In March the Israel Diamond Exchange (IDE) began pilot testing an advanced security system to identify exchange members by their facial features, body language and behavior. The system has been installed at the Diamond Tower building's entrance to the rough diamond trading hall, IDE reported on its website.
The pilot project will be followed by an expanded trial during the U.S./International Diamond Week this April. For the expanded trial the system will be installed at all three entrances to the trading hall and will identify visitors and foreign buyers in addition to exchange members.
"The exchange is continuously looking into new technologies that can strengthen the tight security systems that already exist as befits the status of one of the safest business centers in the world," said IDE's president, Shmuel Schnitzer.
The advanced facial recognition system was developed by the Israeli start-up FST21 led by Aharon Ze’evi Farkash, the former head of Israel’s Military Intelligence. If successful, the new system will obviate the need for human detection capabilities and security identification systems that impede movement, such as biometric scans.
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