GPT Security Flaw, Gen Z's New Digital Hub, & 92% ROI from XR

AI

Surprise, Surprise, ChatGPT’s macOS App is Causing Security Problems

GPT Not Sandboxed, Threatening Security for Users: It shouldn’t come as a shock to anyone that security protocols are not the top priority for the contentious conglomerate, OpenAI. But their latest “oopsie” has still managed to raise eyebrows, especially in the wake of collaboration announcements from Apple and OpenAI.

The recently released ChatGPT macOS app posed a significant security risk for Apple users, as the un-sandboxed application was storing private conversations in plain text. Meaning, any form of security breach (like a virus) would have a first class ticket to all data entered into ChatGPT without facing any encryption hurdles.

A noble investigator shared his findings on Threads and with Jay Peters from the Verge, having built a program to demonstrate the ease with which malware could access sensitive information due to GPT’s security hole.

OpenAI has since resolved the issue in a version update, but the lesson learned still rings true. As workplaces adopt AI faster than researchers understand AI and mitigate its risks, it is important that we grasp just how dangerous this technology can be for business leaders. Its pros may outweigh its cons when looking at short term expenses, but there are potentially costly consequences on the horizon for trusting these systems with sensitive information.

Latest Apps

More Social, Less Media - New Platform “noplace” Hits #1 on App Store

Gen Z and Alpha are Tired of Highly Personalized Algorithms: Ever find yourself longing for the simple days of Myspace while in the middle of a mind-numbing doom scroll? Apparently, so does Gen Z. Our digital world has been polluted by constant stimuli and the relentless competition to capture user attention for more than 2 seconds, and people are becoming exhausted by it.

Noplace, a new social media app targeted toward Gen Z and Alpha, offers an oasis of relief from the incessant pestering of highly personalized ads and content. The app is designed around what was once the cornerstone of social media, being social in a digital space.

Its Wunderkind founder Tiffany Zhong argues that the algorithmic personalization of today’s top social platforms actually leads to a feeling of isolation in users, saying “We’re watching different content and [following] different interests than our friends, so community is harder to find as a result.”

The app offers customizable profiles designed to express users’ interests, hobbies, and personalities via tags. Those tags then make you discoverable to others with similar interests, facilitating community and relationship in ways that other apps do not.

You could attribute the platform’s almost immediate virality to nostalgia or anemoia (word of the day: nostalgia for something you never personally experienced), but we think it's more likely that the platform’s success is indicative of a new-old consumer trend.

Gen Z and Alpha (like all people, really) want to self-express and experience connection as a response to their statements of identity. How can we as business leaders market to these younger generations in a way that makes them feel seen, rather than constantly shouting ‘DON’T LOOK OVER THERE, LOOK AT ME!’?

Here’s a few suggestions off the top:

• Casual is King: Emphasize authenticity and real-life experiences over polished and overly curated content. Gen Z and Gen Alpha value genuine connections and are more likely to engage with brands that reflect honesty and transparency.

• Community Building: Create platforms or spaces that foster community engagement and meaningful interactions. Encourage users to share their experiences, interests, and passions openly, creating a sense of belonging and mutual support.

• Empower User Creativity: Provide tools and platforms that empower users to create and share their own content (i.e. Snapchat AR experience). This could be through user-generated content campaigns, challenges, or interactive storytelling formats.

• Listen and Respond: Actively listen to user feedback and adapt platforms based on user preferences. Engage in meaningful dialogue with users to understand their needs and aspirations better.

XR

XR, XR, Read All About It

XR’s Incredible ROI: A recent survey conducted by HTC VIVE delved into the burgeoning impact of Extended Reality (XR) technologies within the financial industry. The findings underscore a significant shift: 92% of financial professionals report positive returns from their XR investments, with over 80% expecting widespread integration within five years. These technologies are reshaping workforce training, enhancing operational efficiencies, and revolutionizing customer interactions by visualizing complex data in three dimensions.

Business owners across industries can glean valuable insights from these developments to optimize their operations and foster growth:

• Enhanced Training and Upskilling: Integrate XR for immersive training in processes, fraud detection, and employee skill development. XR offers cost-effective, retention-boosting training solutions that improve workforce efficiency and confidence. 84% of respondents in HTC VIVE’s survey said XR lead to an increase in employee skill development.

• Improved Customer Interactions: Use XR's data visualization tools to enhance client interactions and decision-making (according to 77% of respondents who said that XR improved the buyer’s journey). Visualizing complex data in 3D can improve customer comprehension and satisfaction, leading to more informed decisions and better service delivery. 59% of the respondents “highlighted that XR’s ability to visualize data in 3D renders can enhance comprehension, decision-making processes, and client interactions.”

• Cost Savings and Efficiency: Reduce travel costs through XR-enabled remote training solutions and virtual product demos. This leads to higher employee productivity while minimizing disruptions and offers businesses with a large product a more efficient and cost effective method of display by eliminating travel expenditures.

• Innovation and Competitive Edge: 80% of respondents said that XR streamlined operations and efficiency. Embrace XR as a tool for innovation that sets your business apart. Explore how XR can streamline operations, enhance customer satisfaction, and drive growth in a competitive marketplace.

By leveraging XR technology strategically, businesses can not only improve internal operations but also enhance customer satisfaction and drive innovation across various sectors, be it finance or beyond.

Interested in how XR can be used in your business? We know a guy!

Quick Bytes

Tuesday Tidbits

• Crypto hacking thefts double to $1.4 bln in first half of 2024, researchers say. *clutches digital pearls*

• Meta could get slapped with a massive fine for violating the EU's Digital Markets Act. Oooo Zuck’s in troouubblleee.

• Chief AI officers could play a big role in future C-suites, survey finds. A bunch of old farts are retiring so of course the natural solution is to replace their jobs with robots. Millennials are crying in their skinny jeans rn.

Phew, that was a long one! We want to hear from YOU now! Share your thoughts on the tech happenings of the world and connect with other like-minded business leaders below!