Let’s admit it – most of us have spent way too much time online the last couple of years. Especially with many in-person activities being so limited due to the global pandemic. The balance between our real and virtual lives has surely been skewed. So, it’s likely that you’ve heard about the latest trends to be expected in 2022 while spending time online. All the buzz is about NFTs, virtual reality, and artificial intelligence. Let’s get into the facts about each of these developments. What we can expect from each within the next year?

NFTs

If you’re any amount immersed in the world of digital tech, then you’re aware of the term NFT, or Non-Fungible token. An NFT (also known as crypto art) is a cryptographic token that is unique for individual intellectual property tracing. They can’t be replaced, and they’re validated and stored using blockchain technology. 

Let’s Break It Down

In terms that are a bit easier to understand, NFTs are a form of digital asset that can be used to represent real-world artifacts. This includes art, music, video, and in-game items. It’s an original and innovative way for people to use their creativity to make money and gain online popularity. No NFT is comparable to another NFT. For example, there are about 18 million bitcoins in circulation. All bitcoins are the same. But, unlike Bitcoin, NFTs have unique individual qualities that set them aside. So, in other terms, they are not interchangeable (1).

In 2021 alone, NFTs soared to the top of the tech industry with nearly $41 billion in sales (2). Let’s put it into perspective how popular these online items can be. In February of 2021 a GIF of the Pop-Tarts®-bodied cat meme sensation Nyan Cat sold for 300 ETH. This was worth an estimated $590,000 at the time). A month later, in March 2021, a digital card displaying an image of a morph between Homer Simpson and Pepe the Frog called Homer Pepe sold for 205 ETH (equivalent to $320,000 at that time). (3)

The Future of NFTs

Experts estimate that within the next five years, crypto art will have outpaced traditional art markets. Factors such as the cult aspect behind NFTs along with the scarcity are what’s making them so prominent today. The fact that it is a new technology and the feeling of being part of such an early stage plays its role as well. Cherie Hu described it best: “NFTs help close the stubborn gap between the emotional value and market value of art in a digital world.” (3)

NFTs as digital collectibles will undoubtedly continue their impact on the crypto market in 2022. Feeling creative? Try designing a unique image or gif, and see if you could be one of the people who makes a pretty penny selling your designs! You never know, your creation could be the next Homer Pepe.

2. Metaverse – Virtual Like You’ve Never Seen Before

The Facebook Company surprised us all last year when they announced their new name and overall new virtual concept. The Metaverse became a $50 million commitment that shocked us (4). The main idea of the Metaverse is that we will all be using virtual reality (VR) more and more in our everyday lives. VR devices are still relatively new, and the majority of people do not have them in their homes quite yet. However, that will most likely change in 2022. Grab your virtual headset (or go buy one), because the way you work and play is about to be transformed!

Avatar Expression

Radical self-expression will be one of the highlighted benefits of the Metaverse. People will quickly learn to manipulate the virtual world around them as avatars. We will have the ability to try on different ‘skins.’ This will allow us to mold our avatar to be as much like our ‘real’ selves as we want. We will learn how to express pieces of ourselves through these avatars in ways that we may not have been able to visualize or do before. 

The ability to create and switch avatars will make it difficult for people to hold biases. Many will begin to understand that someone’s outer skin doesn’t reflect their full state of being (5). Unfortunately this can be hard for some people to grasp in today’s daily life, and unconscious bias is still a very real thing. Imagine a world with radical acceptance where someone’s outer appearance and every little action they do doesn’t reflect their full state of being. We could start to be looked at as more “whole.”

The Workplace Transformed

Another area where the Metaverse will transform us is in the workplace. It’s very possible that we could be virtually teleporting ourselves to a meeting with our boss soon. Instead of just choosing a fake background on our Zoom or Google Meets meeting screen, we will actually be able to feel like we’re somewhere else.

We will get to experience places like we never have before. The creative power that would come with this will definitely change the way we do work with each other. Think about going across the country or world to meet with the president of your company instead of just seeing their face on a screen or speaking on the phone. Companies of all sizes will be able to create a desirable employee experience tailored more to their employees. Say goodbye to the old, boring conference rooms. Get ready to go to a place you’ve never been before while getting work done.

It will be important for us to balance our experience of what Earth has to offer in the real world while we use technology to learn more about the world we have yet to experience. As our world changes with technology and we go into the metaverse, there is no question: technology will be at the forefront (5).

Artificial Intelligence

AI and machine learning already play a larger role in our daily lives than you might realize. Alexa, Siri, Amazon’s product recommendations, Netflix’s personalized recommendations, Spotify’s customized playlists, every online search you make, security checks for credit card fraud, dating apps, fitness trackers… the list goes on and on. All of these things are driven by artificial intelligence.

Impacts of AI

Over the next few years, artificial intelligence (AI) will become even more omnipresent and inescapable, especially when it comes to devices such as cars and household appliances. Its presence will also enter more into the realms of navigation, health care and many areas of research.

AI is increasingly used to do things like diagnosing health problems from various data sources, enhancing digital maps by analyzing satellite images, and driving vehicles with little to no human assistance (7). Because of this, there will be more emphasis on the security and privacy aspects of data and digital ethics. More resources will ultimately be dispersed toward developing and implementing policies, strategies, principles and guidelines all focusing on AI risks, security and ethics. This will be done by tech companies, the federal government, state agencies, research organizations and universities.

So, is AI going to replace in-person work and personal experiences? Maybe in some aspects, but what it will surely do is change the way we do work and interact with each other. From a work perspective, specialized AI systems tend to be task-oriented. In other words, they execute limited sets of tasks, more than the full set of activities constituting an occupation (8). Still, all occupations have some exposure. For example, reading radiographs is a key part of a radiologist’s  job, but just one of the dozens of tasks they perform. AI in this case can allow doctors to spend more time on other tasks, such as conducting physical exams or developing customized treatment plans.

Contemporary Tech Trends

One thing we can conclude is that our lives are about to become even more virtual, ranging from digital art-buying to using artificial intelligence and virtual reality in both our personal lives and work environments. At this point, the Metaverse is just going to advance and gain popularity. As mentioned earlier, if you don’t already have a virtual headset, you might want to think about purchasing one. In the near future, it could be the only thing standing between you and a virtual work meeting in the tropics of Hawaii!

Sources:

1. https://learn.bybit.com/crypto/what-is-a-non-fungible-token/
2. https://www.wionews.com/technology/what-is-a-non-fungible-token-nft-explaining-the-internets-latest-craze-437385
3. https://learn.bybit.com/nft/6-biggest-nft-trends-to-look-out-for-2022/
4. https://www.idropnews.com/news/7-exploding-tech-trends-you-need-to-know-about-in-2022/178228/10/
5. https://www.entrepreneur.com/article/404209
6. https://mitsloan.mit.edu/ideas-made-to-matter/why-future-ai-future-work
7. https://www.rutgers.edu/news/tech-trends-2022-and-beyond-0
8. https://mitsloan.mit.edu/ideas-made-to-matter/why-future-ai-future-work

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Accessibility

While the funding may not completely achieve that, it’s a major step in that direction. The U.S. noticed a “digital divide” (the persistent gap between the broadband haves and have-nots) during the pandemic. This was because school, work and healthcare had shifted online. Tens of millions of people either don’t have internet access or, can’t afford to pay for it. According to the Federal Communications Commission, roughly 14 million Americans don’t have access to broadband at the speeds necessary to work and study online. 

It may seem odd to some that it’s nearly 2022 and people still don’t have access to capable or reliable internet access, but there’s a reason for that. Phone and cable companies don’t have incentives to build internet infrastructure in rural areas. This is due to customers being sparser and they may not make their money back. Because of this, government subsidies to the industry have come into play; About $47 billion to rural internet from 2009 through 2017, and an additional $20 billion for rural broadband over the next decade and another $9 billion for high-speed wireless internet called 5G in sparsely populated regions.

Affordability

On the other hand, there are also tens of millions of people who have access to the internet. They just don’t sign up. This is often due to the inability to afford it. The National Urban League estimates that around 30 million households fall into that category. Because of this, the Senate bill would provide about $14 billion toward a $30 monthly benefit that helps low-income people pay for internet access. $42 of the $65 billion is to be provided in grants to states, who in turn will funnel it to ISPs to expand networks where people don’t have good internet service. Companies that take this money will have to offer a low-cost service option. Government regulators will approve the price of that service. The bill requires that internet projects come with minimum speeds of 100 mbps down/20 up. This would be a big step up from current requirements. 

What Does This All Mean?

To sum up, the Bipartisan Infrastructure Deal will deliver $65 billion to help ensure that every American has access to reliable high speed broadband. The legislation will also help to lower prices for internet services. Furthermore, it will help close the digital divide, so that more Americans can afford web access. As per the White House fact sheet that accompanied the announcement, more than 30 million Americans currently live in areas lacking broadband infrastructure ‘that provides minimally acceptable speeds’. This is a particular problem in rural communities throughout the country, the government notes. Increased accessibility, along with affordable internet will allow more people to experience the benefits of being online. This will hopefully set the path for the complete elimination of the “digital divide”. Broadband internet is necessary for Americans. For their jobs, to participate equally in school learning, health care, and to stay connected.

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The FCC’s Ruling & What It Means

February 5th, 2020 concluded The Federal Communications Commission’s (FCC) open comment period regarding WC Docket No. 19-308, which aims to address provisions in the 1996 Telecom Act. This targets regulations dealing with unbundling and resale requirements affecting incumbent local exchange carriers (ILECs), also known as local telephone companies, and POTS. The proposal, set forth by the FCC, would no longer require ILECs to unbundle services including DS-0, DS-1, DS-3, and voice-grade loops and dark fiber transport.

Before enactment of the Telecommunications Act of 1996, local telephone companies held a monopoly on local telephone service. Congress passed the 1996 Act to open these local markets to competition and required ILECs to unbundle and open their networks to competitors at cost-based rates, and to offer for resale at wholesale rates telecommunications services that the ILEC offers at retail. At the same time that it established these local market-opening provisions, Congress also left it to the Commission to determine which network elements should be subject to unbundling obligations, and gave the Commission the authority to forbear from these and other regulatory obligations if they became no longer necessary in light of changes in the industry.

Over the past several decades, the telecom industry has become increasingly competitive because of the provisions in the 1996 Telecom Act, giving smaller companies existing infrastructure for resale at competitive prices. It gave providers the ability to offer voice and data solutions for a competitive price. Thus, we are circled back to today, where cloud solutions and VoIP/SIP are popular phone options for many companies.

Background on POTS, SIP, VoIP & Other Abbreviations

Plain old telephone service, or POTS, is exactly what it sounds like. It is an analog voice transmission phone system implemented over copper twisted pair wires. It is the plain old phone line technology most of us grew up with at home.

All of the advancements in technology over the years meant it was only a matter of time before POTS was replaced as everyone’s go-to phone system. A lot of businesses have IP telephony, or are in the process of migrating to it. We tend to use SIP and VoIP interchangeably. They both refer to communications over the Internet or other IP-based connection. Session Initiation Protocol, or SIP, is one of the protocols (the most popular one) used in VoIP communications. VoIP offers more cost savings compared to its traditional counterpart, while also offering many great features that aren’t possible with POTS. In fact, from a cost perspective, SIP and VoIP services will nearly always be less expensive than POTS, or service from ILECs. Depending on the exact circumstances and connections available, SIP/VoIP can typically save from 50% – 90% on monthly telecom expenses.

With the new rulings, now is an even better time to switch to VoIP as a primary option. Visit CallHarbor.com for more information on our VoIP hardware and our high-tech features, to chat with an agent, or to schedule a demo of our services.

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