We have been finding ourselves at ever-interesting times when it comes to digital data, especially when we look at the role of big data, blockchain, and AI, examples of quickly evolving data processes. Within our Networked Society, the digital strategy currently focuses on continuous innovation, helping to bring about even more change in digital data, and how it can be adapted for many new processes.
If we, as a society, are to continue to innovate at such a high level and take these concepts to the next level, we must also make changes within our organization’s methods. More than ever, new technologies need to be focused on bringing together these advancements in the most effective ways possible in this current climate.
But for all of the above to happen, we must have a secure and rewarding Networked Society in action.
What is a Networked Society?
The phrase Network Society has been around since 1991. It primarily refers to the social, political, economic, and cultural changes caused by the spread of networked, digital information and communications technologies.
A Networked Society would allow people anywhere in the world to communicate through digital means without face-to-face meetings. Mostly, a Networked Society does not have any confinements and is active on a global level. The Networked Society is developed so much as a concept that allows for a great deal of information to be traded to help improve information and communication technologies.
Let’s go through a quick breakdown of the different data types we are examining in the context of our subject.
Big Data – European Consumer Commissioner Meglena Kuneva commented, “Personal data is the new oil of the internet and the new currency of the digital world.” That is a bold claim but not at all over the top. It highlights very well the massive impact the big data has on many areas of our life. One glaring example of our time is the use of big data by all the famous brands and their services that millions of us use on a day-to-day basis.
A good example would be Netflix. This company uses big data to understand its customers and then target them in a more ‘relevant and personalized’ way. Based on one’s viewing history, Netflix will provide suggested viewing options, helping to keep the viewer engaged with the service for longer. As much as 80% of a person’s Netflix stream is influenced by its recommendation system, which is powered by algorithms. Netflix is just one example of many companies using user data in this way.
Blockchain – A blockchain can be described as a growing list of records called blocks that are linked using cryptography. Each block contains a cryptographic hash (this is a hash function suitable for use in cryptography) of the previous block plus timestamps and transaction data.
One thing about blockchain is that it is resistant to modifications of its contained data. Blockchain is then counted as an open, distributed ledger that can record transactions between two parties efficiently. That is completed in a verifiable and permanent way.
AI – In the 1950s, Minsky and McCarthy, the ‘father of AI,’ described artificial intelligence as ‘any task performed by a program or a machine that, if a human carried out the same activity, we would say the human had to apply intelligence to accomplish the task.’
Essentially, in the context of computer science, Artificial Intelligence (AI) is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans.
What is the role of Big Data, Blockchain, and AI within a Networked Society?
Governments worldwide have developed blockchain applications, working with companies on the task to improve the services they offer. With this kind of application, where the governments are involved, it is naturally crucial that the application is transparent and legitimate at every stage.
There are also plenty of interesting examples of what a Networked Society offers the world of AI. For example, previously, those working in the AI field are not able to share their project progress with the ease that the Networked Society allows them to now. The AI data can be shared collaboratively, therefore speeding up the overall proceeds and potentially sharing with a considerable amount of other project workers, effectively and efficiently.
The action of being able to share vast amounts of data in the Networked Society allows for a much more high-speed version of the process. That enables a future where companies and organizations can save time, money, and resources due to the amount of data that can be shared with anyone anywhere.
To go back to our earlier question, big data, blockchain, and AI certainly have their roles to play in our Networked Society. We can fully expect these forms of data to be traded on ever higher scales and in new, faster ways.
Companies will be able to learn about their client quicker while storing and sharing more data with speed and accuracy. Governments will have further ways to develop existing data programs that can hold millions of people’s confidential data.
Specific processes that could be improved include data security and governance. That could lead to people feeling that their data is safe and that a negative impact on the person due to a data handling error is reduced.
Thanks to the massive expansion, a Network Society allows our future to be filled with significant changes. We can more easily share, collaborate with, and organize, the foundations of which we have already begun to witness.