The Buzz on Buzzwords

1. Metaverse

   A recent piece in the National Law Review sheds light on the metaverse, which represents the merging of virtual and physical realms. While the exact implications of this convergence remain somewhat ambiguous, it certainly evokes both excitement and apprehension.

2. Non-Fungible Tokens, Blockchain, and Web3

   The buzz surrounding NFTs largely stems from the robust infrastructure provided by blockchain and Web3 technologies. Mark Schaefer elaborates on this and other trends in his article, "Peering into the Future at SXSW." Predictions indicate that by 2025, millennials and Generation Z will dominate the global workforce, driving decentralization and pushing trends like NFTs and blockchain to the forefront. This shift could significantly disrupt the economy.

3. Artificial Intelligence

   To better understand AI, I've been immersing myself in literature and courses like "AI, Business & the Future of Work." This field is often misunderstood, with many fearing job loss to machines or envisioning a conflict between humans and AI. Historians have tracked major revolutions since the 1700s, using that data to forecast when significant changes will occur. Current analyses suggest we are about ten years away from widespread AI implementation.

4. Virtual Reality and Augmented Reality

   Both AR and VR create interactive experiences through technology. VR immerses users in entirely simulated environments via headsets, while AR enhances real-world settings with digital elements, allowing users to interact with their surroundings through devices like smart glasses or smartphone apps. Beyond entertainment, companies will increasingly explore how AR and VR can elevate their brands—imagine a travel agency offering a "virtual" preview of a luxurious resort in St. Barts to entice potential customers.

What Should We Prioritize Now? Cybersecurity!

While embracing new technologies is essential, it must not come at the cost of our privacy and security. We live in an era plagued by rampant cybercrime. Recently, a contractor from #Strella who managed social media found her Facebook account compromised. The hacker not only posted inappropriate content but also hijacked her business pages and siphoned nearly $20,000 from her advertising accounts.

Despite having robust security measures in place, she lost her account and four clients. Unfortunately, Facebook's response was inadequate; after three weeks of attempts to resolve the issue, she received no clarification on how the hacker bypassed her two-factor authentication.

This incident illustrates that anyone can fall victim to hacking. If you haven't already implemented basic security measures—such as antivirus software, strong passwords, and two-factor authentication—now is the time to do so. Additionally, I recommend reviewing your cyber insurance policy, updating your passwords, and ensuring you connect to the internet via a private Wi-Fi network.

For those looking for preventative strategies against Facebook hacks, this article provides helpful insights that can also be applied to other security vulnerabilities. Cybersecurity remains a pressing issue, particularly in light of global conflicts like the one in Ukraine. Consider using the recommendations from Modern Board to safeguard your business amidst deteriorating U.S.-Russia relations.

As our connectivity evolves, so too must our strategies for protection. Take time to assess your accounts and devices for potential weaknesses and take steps to enhance their security.

Your turn! What opportunities and challenges do you anticipate with the technologies discussed in this article?