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Technocracy and globalization

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Alphabet (Google’s parent company), Amazon, Apple, Facebook, and Microsoft—look unstoppable. They are the five most valuable listed firms in the world. Their profits are surging: they collectively racked up over $25bn in net profit in the first quarter of 2017. Amazon captures half of all dollars spent online in America. Google and Facebook accounted for almost all the revenue growth in digital advertising in America last year.

The giants’ success has benefited consumers. Few want to live without Google’s search engine, Amazon’s one-day delivery, or Facebook’s newsfeed. Their services are free (users pay, in effect, by handing over yet more data).

Recently, the tech giants have been trying to increase their dominance over the internet via aggressive acquisitions.

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Big Data

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Internet companies’ control of data gives them enormous power. Smartphones and the internet have made data abundant, ubiquitous and far more valuable. Whether you are going for a run, watching TV or even just sitting in traffic, virtually every activity creates a digital trace—more raw material for the data distilleries. As devices from watches to cars connect to the internet, the volume is increasing: some estimate that a self-driving car will generate 100 gigabytes per second. Meanwhile, artificial-intelligence (AI) techniques such as machine learning extract more value from data. Algorithms can predict when a customer is ready to buy, a jet-engine needs servicing or a person is at risk of a disease. Industrial giants such as GE and Siemens now sell themselves as data firms.

1.The data volumes are exploding, more data has been created in the past two years than in the entire previous history of the human race.

2.Data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet.

3.By then, our accumulated digital universe of data will grow from 4.4 zettabytes today to around 44 zettabytes, or 44 trillion gigabytes.

4.Every second we create new data. For example, we perform 40,000 search queries every second (on Google alone), which makes it 3.5 searches per day and 1.2 trillion searches per year.

5.In Aug 2015, over 1 billion people used Facebook FB +1.75% in a single day.

6.Facebook users send on average 31.25 million messages and view 2.77 million videos every minute.

7.We are seeing a massive growth in video and photo data, where every minute up to 300 hours of video are uploaded to YouTube alone.

8.In 2015, a staggering 1 trillion photos will be taken and billions of them will be shared online. By 2017, nearly 80% of photos will be taken on smartphones.

9.This year, over 1.4 billion smartphones will be shipped – all packed with sensors capable of collecting all kinds of data, not to mention the data the users create themselves.

10.By 2020, we will have over 6.1 billion smartphone users globally(overtaking basic fixed phone subscriptions).

11.Within five years there will be over 50 billion smart connected devices in the world, all developed to collect, analyze and share data.

12.By 2020, at least a third of all data will pass through the cloud (a network of servers connected over the Internet).

13.Distributed computing (performing computing tasks using a network of computers in the cloud) is very real. Google GOOGL +1.41% uses it every day to involve about 1,000 computers in answering a single search query, which takes no more than 0.2 seconds to complete.

14.The Hadoop (open-source software for distributed computing) market is forecast to grow at a compound annual growth rate 58% surpassing $1 billion by 2020.

15.Estimates suggest that by better integrating big data, healthcare could save as much as $300 billion a year — that’s equal to reducing costs by $1000 a year for every man, woman, and child.

16.The White House has already invested more than $200 million in big data projects.

17.For a typical Fortune 1000 company, just a 10% increase in data accessibility will result in more than $65 million additional net income.

18.Retailers who leverage the full power of big data could increase their operating margins by as much as 60%.

19.73% of organizations have already invested or plan to invest in big data by 2016

20.And one of my favorite facts: At the moment less than 0.5% of all data is ever analyzed and used, just imagine the potential here.

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IT Globalization

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IT is a driving factor in the process of globalization. Improvements in the early 1990s in computer hardware, software, and telecommunications increased access to information and economic potential. The advent of social media and blogging platforms in the past years are changing the way people share information. The internet increased the efficiency of all industries.

IT drives the innovative use of resources to promote new products and ideas across nations and cultures, regardless of geographic location. Creating efficient and effective channels to exchange information, IT has been the catalyst for global integration.

Products based upon, or enhanced by, information technology are used in nearly every aspect of life in contemporary industrial societies. The spread of IT and its applications has been extraordinarily rapid. Just 30 years ago, for example, the use of desktop personal computers was still limited to a fairly small number of technologically advanced people. The overwhelming majority of people still produced documents with typewriters, which permitted no manipulation of text and offered no storage.

Likewise, twenty years very few people had bulky mobile phones, and nowadays nearly everyone on this planet has a mobile phone.

In the beginning of the nineties nobody knew what the world wide web was, nowadays the transaction volume over the internet reached trillions of dollars.

The Web-enabled transactions with businesses and consumers from all over the world; it opened up new markets and regions, and it made the world accessible with a simple mouse click.

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Videos

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