The Biggest Tech Stories of 2022: in case you missed anything

We have reached the end of yet another year and what better way to wrap it up than with the biggest stories that made the headlines.

Here is a roundup of tech stories that made 2022 to get you caught up before 2023 begins.

ChatGPT and the rise of AI tools

Who hasn’t heard about ChatGPT yet? AI tools have been in the works for a long time now but it is chatGPT that has finally gotten the world to listen. And now everybody is worried that AI may replace them. How true is it?

Well, from what I have seen it’s possible, but it’s still early to speculate. Sure, the tools can create unimaginable art, write copy from scratch, design websites, and also write code. However, they still need human input to produce the best results. Only time will tell how good these tools become.

Crypto crash

To say that it’s been a bad year for crypto is an understatement. Less than a year after Bitcoin hit an all time high of $69,000, it plummeted to below $18,000 leading a majority of people into believing that the bubble had finally burst.

As the year comes to an end, the crypto market has not yet recovered and many investors have lost their faith. The fall of FTX, one of the biggest crypto exchanges and the consequent trial of its CEO over epic fraud charges has only made the situation worse.

However, there are those that still maintain that this is a cycle that has happened before and the market will come back stronger. We can only sit and wait.

Elon buys Twitter

After months of speculation and a court case, Elon Musk finally bought twitter for whooping $44 billion. Since his takeover Musk has made a number of controversial changes that have sparked fears over the survival of the platform.

To highlight a few of them, Elon started by firing more than half the employees at Twitter, abolished the work from home system, and started charging users for the blue verification check.

At one point #RIP Twitter was trending on the app as many believed the social media platform would be dead in days.

The results, however, have been the complete opposite. According to the CEO, Twitter continues to break records in terms of new users and daily usage. There are less bots on the app now and Musk has made it a priority to fight child predators on the app.

The latest discussion now is on whether the tech billionaire should step down as Twitter CEO. Let’s see what happens in 2023.

Russia vs Ukraine War

On the surface, this may seem like a diplomatic problem between two nations but the impact it has had on global tech has been insurmountable. For starters there has been an increase in technological sanctions in Russia forcing a lot of western tech companies to reduce their presence in the country.

Facebook, Instagram and Twitter have already been banned in Russia.

The conflict between the two nations has also affected the supply chain. Russia and Ukraine are home to a significant share of the global software developer workforce, which is mostly unavailable to global tech clients due to the war.

The war has also led to an increase in cyber attacks between the two nations and their sympathisers.

Mass layoffs and revenue dip for big tech

From declining revenues to employee layoffs, 2022 has had some low moments for tech companies. Apart from Twitter other companies that have slashed their workforce in 2022 include Meta, Salesforce, Coinbase, Stripe, Netflix, and Twilio.

The main reason for the layoffs was to ensure profitability of the businesses.

For the very latest news and stories from the Tech World, you'll find it right here at Tech News Hub. Wishing all our readers and Very Happy New Year and an exciting 2023.