Google (India), Aug. 20, 2020, 17:42:13For the first time, Google has created a software-driven database to authenticate the Aadhaar card, with the aim of creating a system that will allow it to process the vast number of transactions that are now being processed by banks and credit unions.
The project, dubbed Akali, was announced by Google co-founder Sergey Brin on Wednesday at the Code Conference in New York.
“I am very proud to announce that Google is the first company in the world to build a software system that uses machine learning to authenticates a person’s identity and helps banks and other financial institutions verify that their customers are who they say they are,” Brin said.
“With Akali’s unique data, banks can more efficiently process transactions and protect the privacy of their customers.”
For the last two years, Google’s Aadhaar verification system has been using a proprietary model to authentiate a user’s Aadhaar card by analysing the unique data that the card holder sends to Google to confirm their identity.
Aadhaar cards can be valid for more than 10 years and can be issued to anyone who has the card.
In the latest version, Google is using machine learning (ML) to build its database, called Akali.
The database is being used to process more than one billion transactions per day and has the capacity to process as many as 1.4 billion transactions a day.
Google will use Akali to process up to 50 million transactions a second, Brin announced.
“By using machine-learning technology to build our system, we can quickly identify and validate identities, track the identities of millions of people, and securely verify their identities in real-time.
The results of this process are already being validated by the world’s largest banks and financial institutions, and we are already on track to meet our ambitious goal of generating $5 billion of revenue annually,” he said.
The database, which will be based on Google’s AI platform DeepMind, will allow Google to process transactions more quickly and effectively.
It can process up of one billion records a second and process up 100 million transactions per second.
Akali is being built in collaboration with several banks.
Google will be using DeepMind’s technology in conjunction with other banks to process payments from its customers, for example, by using their data to verify that transactions have gone through.
“We’re also looking to extend this technology to other financial instruments such as stock exchanges, credit cards, insurance and remittances,” Brim said.
“Our focus right now is to create a system to quickly validate a user, and ultimately we want to be able to do it with our existing systems,” he added.
Analyzing the data for the first two years of an Aadhaar card’s validity has been a big challenge for banks.
For example, a recent audit showed that banks were able to process approximately 1,000 transactions a minute, but only about 200 of those transactions were processed by the automated system.
IBM has been working on a similar system for a few years, and it was recently used to validate transactions for banks in India.
However, Google was able to accelerate the process by creating a new system, which is built on the Google AI platform.
Currently, the Google-built system is used to do authentication for banks, but it can process hundreds of millions more transactions per minute.
Brin told the audience that the new system will enable banks to make millions of transactions per year and increase the number of users they can process transactions for.
Data is one of the biggest barriers for banks to use machine learning.
Brim said the new machine learning system can help banks understand which transactions are more expensive, for instance, if a bank wants to make an account with a customer, rather than an individual.
“Our aim is to build the best automated system for banking transactions.
We will automate billions of transactions a year,” Brins said.
Google has also been working with some of the world´s biggest technology companies, such as Facebook, to create software for its own system.
It will help the search giant make use of AI to better understand its customers.