With the continuous increment of security risks and the limitations of traditional modes, it is necessary to design a universal and trustworthy identity authentication system for intelligent Internet of Things (IoT) applications such as an intelligent entrance guard. The characteristics of EEG (electroencephalography) have gained the confidence of researchers due to its uniqueness, stability, and universality. However, the limited usability of the experimental paradigm and the unsatisfactory classification accuracy have so far prevented the identity authentication system based on EEG to become commonplace in IoT scenarios. To address these problems, an audiovisual presentation paradigm is proposed to record the EEG signals of subjects. In the pre-processing stage, the reference electrode, ensemble averaging, and independent component analysis methods are used to remove artifacts. In the feature extraction stage, adaptive feature selection and bagging ensemble learning algorithms establish the optimal classification model. The experimental result shows that our proposal achieves the best classification accuracy when compared with other paradigms and typical EEG-based authentication methods, and the test evaluation on a login scenario is designed to further demonstrate that the proposed system is feasible, effective, and reliable.