Tech News Hub: WEEKLY NEWS ROUNDUP
Welcome to our weekly news roundup where we highlight our top stories of the week.
To begin with, we published a story that investigated the trend of metaverse applications and forces driving the metaverse use, we examined the world of the metaverse and it's utility. The Metaverse concept was spread during the Pandemic which limited interaction between companies and workers. Various businesses are implementing to create the Metaverse immersive. The Metaverse is an extension of the mind, place, or thing. It is the intersection of Virtual reality (AR), Augmented reality, and Artificial AI. Many people want to know how it will reshape the digital ecosystem.
While still talking about technology, we discussed the possibility of blockchain technology being considered environmentally friendly. The most well-known blockchain application, bitcoin, generates massive energy emissions. A report from the University of Cambridge's Bitcoin Electricity Consumption Index revealed that Bitcoin mining rigs generate more environmentally hazardous energy than the population of the Philippines combined. Companies can reduce the carbon footprint of several firms by integrating a sustainable block chain technology into diverse economic activity.
Next, we wrote about Web3 losing $2 billion in phishing attacks in 2022. Google Cloud confirms it is assembling a team precisely to assist Web3 developers, and Microsoft publishes a study of Web3's' ice phishing' assault. The first half of this year has already seen more significant losses for blockchain and cryptocurrency schemes, losing over $2 billion in assets. Many crypto investors witnessed more breaches in 2022 than in 2021, making it the most costly year for Web3 projects. The attacks were targeted mostly for discord and telegram server projects. With the continuous phishing attacks, it demonstrates Web3 problematic interface with outdated infrastructures of Web2. Hopefully, Cyber security experts will find a long-lasting solution.
Poor customer communication can adversely influence your brand. The use of AI applications is no longer news as upcoming brands make use of AI applications. As explained in our third featured story the Use of AI Applications ensures a smooth customer service experience to improve business growth. Technology advancement has enabled AI to support partnerships with applications to guarantee a consistent customer experience across all channels. AI powered assistants promptly reply to customers inquiries and complete facts about a product or service. We also explained how AI plays a vital role in improving the communication with customers. AI significantly helps customer service experience in AI email tagging and AI Augmented Messaging. For the business world, this is progress.
We then talked about understanding the basics of biometrics. As we all know, each mobile service we use today requires verification for performing any activity on that application. We explained that biometric security is the key to unlocking our personal data. Biometrics provides advanced layer security for many personal and enterprise systems. Traditional password systems have been in use for a long time and have proven to be compromised by cybercriminals. They have devised many illegitimate ways to infiltrate legacy systems, and many companies are looking to move to use biometrics. Despite the risks, biometric systems are suitable and rigid to duplicate.
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