Few would argue that 2022 will end in a rather tumultuous way for the tech world.
as Meta lays off more than 11,000 employees In response to financial woes, Twitter began undergoing major surgery at a rather alarming pace After Elon Musk took over.
Elsewhere, one of the world’s largest cryptocurrency exchanges suddenly fell downa record-breaking takeover attempt Being questionedwith TikTok is fighting to ban it in the US.
Another sign that politicians are playing around is, apple Reluctantly embraced the design of its flagship Now subject to the whims of EU directives.
But over the next 12 months, there will undoubtedly be more drama.
state of social media
Lots of people will be watching Twitter to see how the platform fares under its new owner’s already dramatic reign.
“Views are going up, but it’s like people huddled together to watch a burning building and then watch it collapse,” journalist and sci-fi author Cory Doctorow observed at Sky News’ Big Ideas Live event.
New features may come and go, More disputed accounts may returnwith Musk’s “chainsaw” strategy A further reduction in the number of employees can be seen.
Musk could also end up clashing with politicians after he was warned he could face EU sanctions Prominent journalist who banned him from contradicting his story.
Various alternatives are emerging By the end of 2022, as some users seek new pastures, decentralized Mastodon is an early frontrunner – Definitely one to watch this year.
Of course, Twitter’s traditional competitors remain, albeit bruised.
Facebook and Instagram users may find themselves growing disaffected if parent company Meta keeps hitting its lashes instead to the metaverseas the once-all-powerful company continues to struggle to reinvent itself after a disastrous year for its stock price.
Then there’s TikTok, which has grown to more than 1 billion users worldwide and may be the biggest threat to Mark Zuckerberg’s platform dominance.
“It’s very much a war for attention,” said Chris Kelly, Facebook’s former head of global public policy.
“There is intense and widespread competition for user attention […] It’s very exciting. “
But while TikTok is threatening Meta, TikTok itself is under threat of an outright ban in the US because some politicians see it as a national security risk from China.
Will the US really ban one of the world’s most popular apps?? The coming year may give us the answer.
Race to the Metaverse
Zuckerberg’s above steering Metaverse It’s a huge gamble for a company that has since lost more than $500 billion in value Renamed from Facebook to Meta.
“If he gets it right, he can save the company,” internet entrepreneur Amber Ghaddar told Sky News.
“If he gets it wrong, I think Facebook is going to be in a lot of trouble.”
Then there’s no pressure, Mark.
Why 2023 is a defining year for META
Internet entrepreneur Amber Ghaddar is an entrepreneur focused on the potential of Web3, the term used to describe what the next incarnation of the Internet might look like.
She argues that a company like Meta’s ability to adapt depends on its ability to overcome three major challenges: the economic climate, the desire for more user privacy, and competition against younger generations.
“In 2008, we had this huge financial crisis that led to the banks doing quantitative easing, taking interest rates down to zero, so there was a lot of money in the market,” she said.
“It was supposed to create activity and consumer inflation, but that never happened. The money started pouring into venture capital firms, private equity firms and public equity.
“Money is so cheap, so easy to invest, we’ve created asset price inflation — a lot of it going to technology companies.
“Investors don’t care much about the basics of finance, they care about growth — more users, more revenue.
“Now we have interest rates up, central banks are tightening money, it’s harder to get money – investors are telling themselves ‘wait a minute, I need to see the bottom line’.
“Big tech companies are used to crazy valuations – they need to restructure and focus on profits.”
That’s why the timing of Zuckerberg’s metaverse gamble is so special.
Not that it’s all down to Meta and its virtual reality focus on the Metaverse.
What Meta is building should really be considered a platform in the Metaverse, although admittedly billions of dollars invested inthere are other players in the space.
There are gaming giants like Fortnite, virtual spaces like Decentraland, and leading brands looking to sell you digital clothing, memorabilia, and other merchandise—all of which fit into this idea of an online space where we Our virtual selves become as important as our actual selves.
The Metaverse Competition was hailed as “The Race to the Future of the Internet” – it’s going nowhere.
Cryptocurrency under fire
After shocking crash, a regulatory push is inevitable Soar and arrest its foundercharged with “one of the largest financial frauds in U.S. history.”
this The Downfall of Sam Bankman-Fried will undoubtedly inspire an elizabeth holmes-esque media frenzymeanwhile, the industry in which he made his name faces more scrutiny than ever before.
There is imminent bipartisan legislation in the United States that would require cryptocurrency firms to comply with the same rules as corporations and banks, while the U.K. Treasury is also reportedly set to tighten the U.K.’s own rules.
The recently appointed chairman of the U.K.’s financial watchdog does not appear to be a fan of cryptocurrencies, as he was quoted in a Financial Times report saying that crypto companies are “willfully evasive” and suggesting that the industry facilitates money laundering.
Brian Armstrong, CEO of cryptocurrency exchange Coinbase, told Sky’s Ian King that the world’s financial centers must improve their “cryptocurrency-specific regulation,” and it seems inevitable we’ll see that in 2023.
The Rapid Rise of Artificial Intelligence
By the end of 2022, the internet has a new favorite: ChatGPT.
San Francisco company OpenAI’s new chatbot has launched to much fanfare, wowing users with its ability to do everything from recommending computer coding bug fixes to dinner recipes.
it even helps with writing sky news article.
But try hard enough and its limitations become more apparent, often delivering overly long and superficial answers reminiscent of the way someone brags about themselves in a job interview.
Still, it took the world by storm overnight, a reminder of how quickly powerful new artificial intelligence can emerge.
“Inevitably, there will be more robots in everyone’s lives,” Stuart Miller, head of the UK’s largest and most advanced robotics centre, told Sky News earlier this year.
“They’ll help you at home, when you’re out shopping, when you go to a hotel, they’re involved in hospitality, when you go to the theater, everything.”
Whether it’s ChatGPT taking a giant step towards true human intelligence or something entirely new emerging from elsewhere, AI is advancing fast – and we need to keep up.
A sea change in the gaming industry
Microsoft has spent much of 2022 trying to convince government regulators that it can pull off the biggest acquisition in tech history, as it tries to seal a $69bn (£56bn) deal to buy Activision Blizzard.
The company behind Xbox wants to bring the company responsible for Call of Duty under its umbrella, and has faced stubborn opposition from rival Sony, which says the move could one day see Blockbuster shooter franchise dropped from its PlayStation console.
Regulators are taking note that the EU and UK competition regulator conduct both investigations – and Su takes formal action to stop deal from going further.
While Microsoft and Activision remain confident that the deal will close, the FTC has scheduled a hearing before an administrative law judge in August, so that hearing is expected to continue.
Regardless of the outcome, it will be a major change for an industry that is expected to have at least one major product launch in 2023, with PlayStation’s new VR headset is coming soon And ongoing rumors about Nintendo’s long-awaited console update.