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The Five Technologies for the Next Decade

12/29/2019

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Heraclitus, the Greek philosopher of Ephesus, is credited with the quote, “The only constant in life is change.” It comes as no surprise that technology is gradually taking over all aspects of our day to day life. 
The rise of cutting-edge technology, including cloud-based computing, big data analysis, wearables, machine learnings, Internet of Things, AR/VR, and drones has been exhibiting nothing but change. Moreover, the rise of 5G technology is establishing even further growth prospects.
So, looking at the coming decade, these top 5 technologies are set to have the most significant impact and change: 
  • Artificial Intelligence (AI)
  • Blockchain
  • Augmented Reality and Virtual Reality (AR/VR)
  • Big Data
  • Internet of Things (IoT).
 
Artificial intelligence (AI)remains a hot spot, with its ever-increasing impact on numerous industries all over the world. AI is the most substantial and significant driving technology factor with its speedy execution in sectors like banking, retail, healthcare, agriculture, manufacturing, and defense. AI applications allow machines to learn from experience and work like humans by simulating human performance.
Whether it’s Apple’s self-driving car, Amazon’s Alexa and Echo, or Google’s Lens, the application of artificial intelligence holds the most vital prospect.
AI can impact the world economy on numerous grounds, like aiding or replacing human labor to finish the assigned work more rapidly. Consequently, it expands production, speeds up the processing of data flows, increases production and service development, thereby generating more wealth worldwide.
According to several media reports, 80% of emerging technologies will implement AI technology by 2021.
The important spheres where AI is used: 
•      Knowledge Reasoning
•      Machine Learning
•      Robotics
•      Natural Language Processing.
•      Planning 
 
Blockchainis significantly speedier and more reliable than the legacy technologies in completing a transaction and recording it securely. This is primarily due to the lack of manual processing or verification by mediators as it applies a distributed consensus.
Additionally, blockchain technology is expected to be honest and intended to deliver unaffected information. Thus, the probability of financial deficits is low, with the slightest possibilities of double counting and hacking.
Overall, the cohesive use of the technology can enable countries to attain better economic growth with streamlined day-to-day systems. Bitcoin is one of the best examples of blockchain technology use.
The important spheres where blockchain is used: 
•      Encrypted Messaging
•      Decentralized Internet
•      Distributed Cloud Storage
•      Networking Sites
•      Stock Exchange
•      Real Estate
 
Augmented Reality (AR) and Virtual Reality (VR)is seeing significant new implementations due to the shift in consumer desires and business demands. With hardware possibilities and digital capabilities becoming more easily accessible and inexpensive to the ordinary person, AR/VR technologies have evolved extraordinarily well in the last few years.

Almost every major sector, including healthcare, retail, pharma, gaming, entertainment, automobiles, and construction, are utilizing the technology to interrelate between the actual world and 3D virtual objects in real-time.

The important spheres where AR/VR is used: 
  • Design & Modelling
  • Business Logistics
  • Field Service
  • Entertainment Properties
  • Retail
  • Medical Training
 
Big Data is turning out to be an essential component for businesses to remain aggressive and competitive in most industries. Companies are utilizing this technology to identify and calculate consumption models or enhance operational effectiveness.

Investments in big data analytics software, hardware, and services are anticipated to increase in the new decade, due to the enormous amount of structured and unstructured data generated universally. This pervasive implementation of big data analytics is a significant tailwind driving the big data market on a global basis.

Big Data technology aids in controlling vast amounts of structured and unstructured information, thereby making it more straightforward for companies to make better business decisions. Moreover, big data analytics acts as a booster for marketing strategies, thereby improving customer relationships.

Additionally, with rising cyber-threats and cyber-crimes, big data is the best answer to fight fraud in online deals.

The important spheres where big data is used: 
  • Location Tracking
  • Precision Medicine
  • Fraud Detection & Handling
  • Advertising
  • Entertainment & Media.
 
Internet of Things (IoT)unites manufacturing, medical devices, vehicles, and a range of consumer and everyday products, which allows enhanced monitoring, analytics, and more.

IoT, in simple terms, implies connecting devices over the network or internet for the intent of interaction. In IoT, devices gather and distribute data that is accumulated in the cloud, thereby helping in faster analyzing information, gaining more accurate insights.

According to media reports, by 2025, the total installed base of IoT connected devices is expected to be around 75.44 billion globally. This represents a 500% increase over the last decade.
​
The important spheres where IoT is used: 
  • Connected Devices
  • Smart Homes
  • Wearables
  • Smart Cities.
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When Should Your Child Get a Smartphone?

12/22/2019

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If it seems like all your friends have smartphones, you may be on to something. A new report by Common Sense Media, a nonprofit that reports on technology and media for children, found that by the age of 11, more than half of kids in the U.S. have their own smartphone. By age 12, more than two-thirds do, and by 14, teens are just as likely as adultsto own a smartphone. Some kids start much younger. Nearly 20% of 8-year-olds have a smartphone!

Now, let’s speak to the kids. So, what’s the right age? The best answer is when both you and your parents feel the time is right.

Here are some points to consider to help you and your parents make this decision.

Responsibility.Have you shown that you are generally responsible? Do you keep track of valuable belongings? Do you understand the value of money, and can you save up to buy things you want? These are all good signs that you may be ready for a phone. If not, it might be wise to wait a bit longer.

Safety.Do you travel to or from school or after-school activities without an adult? This is when phones often go from a “want” to a “need.” Sometimes parents report that they feel better knowing they can reach their children directly and that their kids can reach them, too.

Social Maturity.Do you treat your friends with kindness and respect? Do you understand the permanence of the internet, the fact that once something goes out onto the web, it can never truly be deleted? It is critically important that you have a grasp on these issues before you own a smartphone.

Bullying. We all get angry and say hurtful things we don’t mean sometimes, but when you post something on the internet that you might not mean later, or might wish you could take back. It can have real and lasting harmful effects. In the era of smartphones, there have been considerable increases in cyberbullying.

Be Smart. If you and your parents decide this is an excellent time to take that step, here are some tips for creating a healthy relationship between you and your phone.
​
Parents should model good behavior! Your parents are the number one most important influence in your life, and that goes for technology use as much as anything else. If parents are glued to their phones all day, guess what? Their children probably will be, too.
On the flip side, if parents model smartphone habits like putting the phone away during meals and not texting and driving, that will go a long way toward helping kids develop similar healthy behaviors.
You and your parents should talk together about the importance of setting rules and limits around your phone use and screen time. Understanding why rules are made and set in place can help kids stick to a system.

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Take This Simple Step to Make Your Gadgets Much Harder to Steal

12/15/2019

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If you’re leaving a phone or tablet in your car for some reason, you probably put it in the glovebox or out of sight under something a fair bit less valuable. That’s just common sense. But in fact, your gadget’s Bluetooth may be making them way more visible than they ever could be with the naked eye.

As Outside Magazine notes, enterprising thieves have been using Bluetooth scanner apps – particularly in otherwise deserted areas like trailheads – to quickly scan their surroundings for high-value targets. To avoid this fate, simply put your device into Airplane mode (Android, iOS), turn it all the way off or, of course, avoid having to leave it in the car in the first place.

Better yet, you can test your own preventative measures by downloading a readily available Bluetooth scanner app yourself to see if your devices are visible by this method even after you have attempted to disable them. Certain devices like wireless headphones and fitness trackers can be pretty insistent on sending out Bluetooth signals for pairing purposes, so it is worth double-checking you actually know how to disable them fully.
​
Or, for a dead-simple approach that will cost you a few bucks, pick up a signal-blocking “Faraday bag” to keep in your car, so you can be sure the gadgets inside it can’t signal the outside world no matter how hard they try.
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Tim Berners-Lee Launches Plan to Fix the Web

12/8/2019

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Tim Berners-Lee, the inventor of the world wide web, has officially launched the Contract for the Web, a set of principles designed to “fix” the internet and prevent us from sliding into a “digital dystopia,” The Guardian reports. The Contract lists nine core principles for governments, companies, and individuals to adhere to, including responsibilities to provide affordable, reliable internet access and to respect civil discourse and human dignity.

At launch, the initiative has received the backing of over 180 organizations, including tech companies such as Microsoft, Google, DuckDuckGo, and Facebook, and nonprofit groups such as the Electronic Frontier Foundation. The Guardian initially reported that Amazon and Twitter were absent from the list of backers, however now Twitter’s logo appears on the Contract’s homepage. Twitter’s increasing role in political discourse was recently brought into sharp focus after it chose to ban political ads on its platform, citing the “challenges to civic discourse” that they create.

The contract’s launch comes as tech companies such as Facebook and Google have faced mounting pressure around both the amount of user data they collect and how they collect it. The Contract for the Web includes principles designed to prevent this, including a requirement for companies to respect people’s privacy and personal data. If companies do not show that they are working to support these aims, they risk being removed from the list of the project’s endorsers.

It’s not that we need a 10-year plan for the web, we need to turn the web around now,” Berners-Lee said. The Contract, which includes 72 clauses alongside its nine principles, offers a shared vision for the web that Berners-Lee’s Web Foundation wants to see built, as well as a roadmap for action. Finally, it also provides a tool to try and hold companies and governments to account.

The governments of Germany, France, and Ghana have also signed up to the Contract’s founding principles. The Contract calls on governments to ensure everyone can connect to the internet, and to keep the internet available all of the time. This latter point feels especially timely in light of the Iranian government’s recent decision to shut down the internet in an attempt to prevent protests from spreading.
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“The forces taking the web in the wrong direction have always been very strong,” Berners-Lee said, noting that it will be vital for citizens to hold governments and companies to account if the situation is to improve.

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China’s Congress Passes Cryptography Law,Effective Jan. 1, 2020

12/1/2019

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The Standing Committee of the 13th National People’s Congress in China has passed the cryptography law on Saturday, and it will be effective on January 1, 2020, according to a Chinese media report.

The announcement came one day after Chinese President Xi Jinping’s call on the country to seize opportunities in blockchain technology.

While China still bans cryptocurrency trading and its national digital currency is yet to be introduced, cryptography, as an integral underpinning of blockchain technology, could be critical to the country’s push to be more competitive in the blockchain space.

The new law aims to tackle emerging regulatory and legal challenges in commercial cryptography use-cases as they play an increasingly important role in developing the Chinese economy, according to the law’s latest draft proposal before approval.

According to the proposal:

“Clear guidelines and regulations are needed to evaluate commercial cryptography technologies used in the major fields related to the national interest as the current ‘loose’ system is not suitable for the industry anymore.”

China’s national congress said the new law will encourage research and development on commercial cryptography technologies while building up an inclusive standardized regulatory system for the market.

The Chinese congress released a draft proposal for the new law last July, soliciting public comments.

The proposal includes a range of issues from how compatible the industry standards should be with other international cryptography systems to whether companies should voluntarily verify their commercial use-cases with authorities.
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According to the Chinese congress, the new law will also encourage nationwide educational efforts, such as public exhibitions, to promote cryptography among government officials, companies, and social groups.
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    Author

    Rick Richardson, CPA, CITP, CGMA

    Rick is the editor of the weekly newsletter, Technology This Week. You can subscribe to it by visiting the website.

    Rick is also the Managing Partner of Richardson Media & Technologies, LLC. Prior to forming his current company, he had a 28-year career in technology with Ernst & Young, the last twelve years of which he served as National Director of Technology.

    Mr. Richardson has been named to the "Technology 100"- the annual honors list of the 100 key achievers in technology in America. He has also been honored by the American Institute of CPAs with two Lifetime Achievement awards and a Special Career Recognition Award for his contributions to the profession in the field of technology.

    In 2012, Rick was inducted into the Accounting Hall of Fame by CPA Practice Advisor Magazine. He has also been named to the 100 most influential individuals in the accounting profession in America by Accounting Today magazine.

    In 2017, Rick was inducted as a Marquis Who’s Who Lifetime Achiever, a registry of professionals who have excelled in their fields for many years and achieved greatness in their industry.

    He is a sought after speaker around the world, providing his annual forecast of future technology trends to thousands of business executives, professionals, community leaders, educators and students.

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