Blog Post #1: Initial Expectations for Social Media
I was referred to take this class by one of my good friends, Atem Ntantang. Atem was in the Social Media class second semester last year, and he only had good things to say about the course. Professor Kane was awesome – very insightful – and the course work is extremely relevant. Also, Atem raved about there being “snack time”, which I was very interested in. So with his recommendation, I signed up for this Social Media class.
This past summer, I registered for the course “Social Media: Web/Beyond”. This class was an Immersive Education (iED), or put another way, this was an online class. The entire dynamic of the class room was different than regular lecture classes. Our lectures were on audio whiteboard and assignments were completed individually. We used numerous social media sites – Facebook, Tumblr, Reddit, Google+ – to understand the power of each source and how they all were very similar and different. Another big component of our class was Minecraft. As a senior college student at BC, I would have never thought that I would be enrolled in a class where we played Minecraft to learn. Although the class was very introductory in terms of learning how to use different social media applications and learning how to function in an iED classroom environment, I was enticed by learning more about technology and its volatile role in world. I wanted to learn more about how technology is changing our current and future workplace. I believe that having a stronger grasp on technology will be able to help prepare me for the real world and potential career choices I have in mind. In particular, I enjoyed the iED class because it represented changes in technology and how they are affecting everything. About ten years ago, taking an iED class would have seemed impossible to me. I was a traditionalist in the sense that I believed online classes would not be productive. However, after experiencing this class my perspective has changed. It is not unlikely to assume in the next 10 years how we learn will be different and involve more technology. Instead of being in an uncomfortable classroom, students can be in the comfort of their bedroom or other places. We explored and discussed involving different social media accounts about current issues that were related to social media and technology. Although these two classes are different, they have some overlap and similarities.
I am interested in taking this class, Social Media and Digital Business, because of the perspective we gain on technological changes and how it impacts everything. Through work experiences in the past, I have realized the importance of innovations made in technology. For example, careers in the financial services industry are going to have to go through major changes technologically to keep up with the times. Robo-advisors are rising and impacting the industry. These smart systems can essentially create a well-diversified portfolio for a user for a fraction of the transaction costs. Users can customize their risk-tolerance (alpha) and amount of exposure they want to have to risky or non-risky asset classy. These machines can research and trade at high frequency. As a result, this will completely disrupt financial managers, advisors, and hedge funds, and how they do business. Since these human advisor’s management costs can be around 1-3% of assets under management, Robo-advisors have an advantage. Their fees can be as low as 0.10% of assets under management. As Robo-advisors grow, the financial service industry will have to innovate new ways to keep their competitive advantage or adapt to these new age advisors, so they can stay in business.
Through taking this class, I expect to have a greater understanding of the technology and social media industry. I also want to be able to come away with a better way of analyzing different technological aspects and how they may influence many different industries. Since this class is a mixture between undergrad and grad, I believe the class participation and presentations will be very insightful. The graduate students will bring insights into their industries and the changes and innovations they have seen. I believe it will be a good balance to bring great ideas into discussions, blogs, and twitter.