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This is the future of the internet | ticker VIEWS

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The future of the internet is augmented reality, virtual reality, and spatial computing technology

Cathy Hackl is a leading technology futurist. A futurist helps organisations anticipate change, retain market relevance, and imagine the possible scenarios that could play out.

Hackl harnesses emerging trends and emerging technologies to do this. She is a top female in the global technology space, specialising in augmented reality, virtual reality, and spatial computing. With a big emphasis on understanding the metaverse.

What is the metaverse and why should we be paying attention?

The Metaverse is defined broadly as the intersection of many virtual worlds with the physical one.  In today’s society, we have our physical person, but we also have our digital persona.  Our digital persona is who we are on LinkedIn, Instagram, TikTok, or other social media platforms.

The Metaverse is a convergence of both the physical and the digital, to become the next version of the internet and computing. Growth in the metaverse will accelerate, as new technologies like virtual reality and blockchain, gain further mainstream adoption.

“Web 1.0 connected information gave us the internet, web 2.0 connected people give us social media, and then web 3.0, where we’re heading connects people, places, and things.”

Cathy Hackl

The virtual workforce

Metaverse is becoming a more common term in business. Moving into the future of this technology businesses will need the cloud and cutting edge computing. Every single industry, can use these technologies, with virtual reality or augmented reality.

Hackl says she has worked with companies like Amazon Web Services and United Parcel Service where they’re implementing this virtual technology for productivity.

“They had already started training their drivers, their logistics and delivery drivers using virtual reality. Whether it is training and upskilling in the workforce, whether it is the education of medical students doing operations on digital courses before they actually get to the operating room.”

Cathy Hackl

From the Defence force to Government, virtual reality is the future of the workforce for training, as well as policy design.

 “Being able to put lawmakers in the device and show them you know, exactly some of the things that you might be envisioning, or that you know, are part of the fence might be requesting funds for.”

“Businesses need to think about technologies, not as a toy, but as a tool” 

Cathy Hackl

What to keep your eye on

Hackl says there will be two things to watch in this immediate space. Firstly, it will be non-fungible tokens (NFTS), moving away from crypto art or collectibles but into becoming a utility themselves. Secondly, we will see an increase in virtual fashion and virtual dresses, where you will be able to change the outfits of your digital persona.

Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

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Tech

Elon Musk announces free premium features for high-follower accounts on X

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Elon Musk has once again stirred the online community with a recent announcement regarding the popular social media platform, X.

In a tweet on Thursday, Musk revealed a significant update that could reshape the experience for many users on the platform.

“Going forward, all accounts with over 2500 verified subscriber followers will get Premium features for free and accounts with over 5000 will get Premium+ for free,” Musk declared.

This bold move by Musk is expected to have far-reaching implications for content creators, influencers, and users alike.

By offering Premium features to accounts with a substantial following, Musk aims to incentivise growth and engagement on the platform while rewarding those who have already amassed a sizable audience.

Enhanced analystics

The Premium features include enhanced analytics, advanced customization options, and priority customer support, among others.

Meanwhile, Premium+ offers additional perks such as exclusive access to new features, ad-free browsing, and special badges to highlight top creators.

For content creators and influencers, this announcement presents a unique opportunity to leverage their existing following to gain access to premium tools and resources without any additional cost.

This could lead to increased user engagement, higher-quality content, and ultimately, a more vibrant and dynamic community on X.

For users who enjoy consuming content on the platform, this move signifies a potential improvement in the overall user experience.

With creators gaining access to advanced features, users can expect to see more innovative and engaging content, tailored to their interests and preferences.

However, some industry analysts have raised concerns about the potential implications of this announcement.

Critics argue that offering Premium features for free based solely on follower count could incentivize the pursuit of vanity metrics and discourage genuine interactions and content creation.

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Tech

Uncovering alleged misleading practices as Meta comes under fire

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Tech giant Meta, formerly known as Facebook, is facing scrutiny over allegations of misleading practices regarding its handling of disinformation and misinformation on its platform.

A recent formal complaint has raised concerns about the efficacy of Meta’s fact-checking system and the transparency of its reporting.

Allegations and Concerns

The complaint, filed by online safety research group Reset.Tech, alleges that Meta is not living up to its claims outlined in its transparency report. It suggests that small changes in wording can circumvent Meta’s automated labeling of known falsehoods, leading to misinformation slipping through the cracks undetected.

Meta HQ in the United States.

Loopholes in Fact-Checking

One of the key issues highlighted in the complaint is the treatment of misinformation posts that undergo slight modifications.

While Meta’s fact-checkers may identify and label the original post, variations of the same misinformation with minor changes often go unlabeled, creating loopholes in Meta’s fact-checking system.

Response from Meta

Meta has denied the allegations, stating that its transparency report accurately reflects its practices. According to Meta, the company proactively identifies and labels content that matches or is near-identical to content previously identified as false by third-party fact-checking organizations.

The complaint has been submitted to the Digital Industry Group Inc (DIGI), which represents major tech platforms in Australia, including Meta.

However, the complaint is currently stalled at a procedural hurdle, raising concerns about the effectiveness of self-regulation and corporate accountability in addressing misinformation.

As the complaint against Meta awaits further review, it underscores the ongoing challenges in combating misinformation online.

With the proliferation of false information and the potential impact on public discourse, there is a growing need for robust fact-checking mechanisms and transparent reporting practices from tech companies like Meta.

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Tech

Fight for AI talent as companies offer million dollar packages

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As the demand for expertise in generative AI surges, tech companies are engaging in fierce competition, offering million-dollar compensation packages and even poaching entire engineering teams.

This fervent pursuit of AI talent occurs against a backdrop of layoffs in other tech sectors and a significant reallocation of resources towards AI development.

Tech companies are going to unprecedented lengths to attract individuals with expertise in generative AI, the technology that underpins innovations like ChatGPT and humanlike bots.

With a shortage of qualified candidates, these companies are resorting to eye-catching compensation packages and aggressive recruitment tactics to secure the necessary talent.

According to Naveen Rao, head of Generative AI at Databricks, the pool of individuals capable of training large language models (LLMs) from scratch or tackling complex AI problems is extremely limited.

AI is becoming a top job skill.

Requisite skills

Rao estimates that only a few hundred people possess the requisite skills, leading to intense competition among employers.

To entice top-tier candidates, companies are offering total compensation packages exceeding $1 million annually, far surpassing industry norms.

Sales professionals with expertise in AI are also in high demand, commanding double the salary of their counterparts in other sectors.

The scarcity of AI talent is reflected in significant salary increases across managerial and non-managerial roles within the industry.

A survey by WTW revealed base-pay increases ranging from 5% to 19% from April 2022 to April 2023, with median compensation figures reaching staggering heights.

Startup struggle

Startups, in particular, are facing challenges in attracting and retaining talent due to their limited resources compared to tech giants like Google and Meta.

Despite offering potentially lucrative equity incentives, startups struggle to compete with the financial stability and resources provided by established companies.

Some individuals with entrepreneurial aspirations are leveraging the demand for AI expertise by launching their own startups.

Arthur Mensch, a former Google employee, founded Mistral AI, which quickly gained a valuation of over $2 billion within its first year.

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