The Weird Problem Troubling Tech: FOMO
FOMO, for those of you not up on the lingo, is the Fear Of Missing Out. It’s simultaneously a marketing strategy and a genuine psychological hook, something that falls between jealousy and desire. It’s also something affecting the tech world, as rapid developments mean it’s easy to be left out in the cold.
The best example from recent times is, of course, artificial intelligence or AI – specifically, generative AI. In theory, this modern alchemy turns lead into gold, creating music, pictures, and movies from a simple text prompt. Saying “please” isn’t required, although, some analysts disagree on that point.
Politeness is free, after all.
Aimless Development
Consultancy firm Wavestone claims that three-quarters (75%) of leaders in the tech space feel FOMO. A good 39% of people polled have also placed generative computing at the heart of their business strategy. Just 1% of tech companies had no interest in AI.
This might be seen as alarming. With the rate at which technology races through our lives, FOMO almost inevitably risks investment in the wrong things. Everything from Betamax to the Microsoft phone has been proclaimed futuristic in our past, yet exists only in junk drawers today.
There are only 25 blimps in existence today, many owned by Goodyear for advertising purposes.
The good news is that AI seems here to stay. Whether FOMO leads to aimless development “just for the sake of it” remains to be seen
“Disappointed” Messaging
Defined just after the millennium, FOMO has its origins in social media but it’s much more visible today in marketing. Even “disappointed” messaging, such as displaying recently sold-out products and opportunities (e.g. Booking.com shows unavailable rooms) can stir a customer to buy.
One of the most recognizable FOMO techniques is a gift on purchase, especially when they have a short availability window. The New Jersey online casino sector offers deposit bonuses to this end. These cycle over months and seasons so they remain competitive.
Deposit bonuses usually manifest as free spins on slot games or extra coins to play with.
DeepMind AI
Citing a company called PitchBook, the previous source claims that 700 generative AI deals totaling $29.1bn were made last year, representing a surge of 260% over 2022. The money spent isn’t surprising if the expense of building AI is pulled into consideration.
Google’s deal to acquire its DeepMind AI cost up to $850m.
For now, AI is one of the most promising research areas in the world – but, as we’ve seen earlier, technology doesn’t always serve its creators for long. The overbearing influence of proponents like Google and OpenAI could also spell trouble for the FOMO crowd, as expensive projects get shoved out of the market.
Expect to see more newcomers gobbled up this year, too.
Axee Davies is the founder of AxeeTech, publishing gaming guides, codes, and Windows how-tos since March 2013. A tech enthusiast for 13+ years — starting with smartphones and Android rooting — he now runs a site that puts out a new guide every day for Roblox players, traders, and Windows users. More about AxeeTech
More How to You May Like
Top 3 Free online MBOX to PST Converters
Common Causes of Sewage Backup That Require Emergency Sewage Cleanup Services
Windows Resource Protection Could Not Start the Repair Service
MEMORY_MANAGEMENT Blue Screen in Windows 10 and 11: 8 Fixes
Night Light Not Working in Windows 11: 7 Easy Fixes
Windows 11 Update Stuck at 46%: 7 Proven Fixes
Start Menu Not Working in Windows 11: 7 Fixes That Work
Repair Windows 10 From USB: 7 Step-by-Step Fixes