DECODER’s readers want to be aware of all things happening in Canadian tech and that includes being familiar with the newest trends. DECODER’s Dictionary aims to educate our readers on the most important terms in today’s tech lexicon. The Dictionary presents an opportunity for companies to position themselves as thought leaders through brand association.
Artificial Intelligence (AI)
Computer systems and software that mimic human-like intelligence, enabling them to perform tasks such as understanding language, recognizing patterns, making decisions, and learning from experience.
Think of artificial intelligence as a smart helper that learns to do tasks just like you. Imagine if you had a robot friend that could watch you cook, clean, and play games. Over time, it would learn how you do things and start helping out on its own, making your life easier. AI is like that robot friend, but in the digital world, it learns from data and experience to assist with tasks that usually need human thinking.
A setup where companies that aren’t traditional banks can offer financial services, like payments or loans, by using the resources and technology of established banks.
Think of banking-as-a-service like setting up a lemonade stand with the help of a big lemon company. You provide the stand and the service, while the company supplies the lemons, cups, and even helps with the recipe. Similarly, companies can offer financial services to customers, but the banking-as-a-service model lets them use the expertise and tools of established banks to make everything run smoothly.
A decentralized and transparent digital ledger that securely records and verifies transactions across multiple computers. It enables the creation of a tamper-resistant and trustworthy system without the need for a central authority.
Imagine a giant notebook that keeps track of all the transactions happening in a community. Instead of one person controlling the notebook, everyone in the community has a copy. Whenever a transaction occurs, it is written in the notebook, and all copies are updated simultaneously. Once recorded, the transactions are difficult to alter or tamper with because everyone has a copy and can verify the entries. Blockchain works similarly, where each transaction is a block added to the chain of transactions, and multiple computers (nodes) store and verify the information, ensuring transparency and security.
Measures and practices that protect digital information and computer systems from unauthorized access, attacks, and damage, ensuring the confidentiality, integrity, and availability of data.
Think of cybersecurity as a fortress for your digital world. Just like a medieval castle has walls, moats, and guards to keep out intruders, cybersecurity sets up virtual barriers and defenses to keep hackers and bad actors away from your digital information. It’s like having a team of digital knights that protect your online kingdom.
The process of using modern technology to change the way businesses, organizations, or even individuals operate, making things more efficient, connected, and adaptable in the digital age.
Imagine you have a magical backpack that upgrades all your stuff. It turns your old, ordinary things into smart, high-tech versions. Your notebook becomes a tablet, your bicycle transforms into a sleek electric bike, and your map turns into a GPS that guides you anywhere. Digital transformation is like that magical backpack for businesses and organizations. It takes their regular processes and tools, making them smarter and more efficient with technology’s help.
Power derived from the chemical reactions involving hydrogen gas. This clean and versatile energy source can be used to produce electricity and heat without emitting harmful pollutants.
Think of hydrogen energy like a superhero fuel. Hydrogen, the tiny element, can team up with other elements to create powerful reactions that generate electricity and heat. It’s like a magic potion that, when combined with the right ingredients, produces energy without leaving any messy residue behind.
Internet of Things (IoT)
The idea of connecting everyday objects, like appliances, gadgets, and even vehicles, to the internet so they can communicate and share data with each other, making them smarter and more useful.
Imagine your house is like a big team of talking objects. Your fridge talks to your phone, telling you when you’re out of milk. Your lights talk to your thermostat, adjusting the temperature when you leave the room. This teamwork makes your home super efficient. Internet of Things is like giving objects the power to chat and work together, making your world more convenient.
Machine Learning (ML)
A branch of artificial intelligence that enables computers to learn from data and improve their performance without being explicitly programmed, allowing them to make predictions, recognize patterns, and solve complex problems.
Imagine you have a robot friend that loves to play a guessing game. Every time you give it a set of clues, it tries to guess the answer. At first, it might guess randomly, but as you provide more examples and correct its guesses, it starts to learn and improve. Eventually, it becomes really good at guessing because it has learned from the patterns in the clues. Machine learning is like that robot friend, but instead of a game, it’s a computer system that learns and gets smarter by analyzing lots of data, finding patterns, and making predictions.
A vast and interconnected virtual space where people can interact, socialize, and engage in various activities through digital avatars. It combines augmented reality (AR), virtual reality (VR), and other technologies to create a shared online universe.
Imagine a giant, ever-expanding amusement park that exists entirely in the digital realm. You put on a special headset, and suddenly you’re transported to this park where you can meet friends, play games, attend concerts, explore new places, and even create your own attractions. Your digital avatar lets you experience this park just like you’re really there, interacting with others and having adventures. The metaverse is like that enormous digital playground where you can do all sorts of things, but instead of walking around in the physical world, you’re navigating and experiencing everything through your avatar in a computer-generated space.
Technology that harnesses energy from the sun’s rays to generate electricity or heat for various uses, like powering homes, charging devices, or heating water.
Imagine your house is like a giant sunflower. Instead of blooming flowers, it’s covered in special panels that soak up sunlight. Just like how the sunflower uses sunlight to grow, these panels use sunlight to create energy that can light up your home and make your devices work. Solartech is like turning your house into a sun-powered plant, using the sun’s energy to make your life more comfortable.
Virtual Reality (VR)
A technology that creates an immersive and artificial digital environment, allowing users to feel as if they are physically present in a different world or setting.
Imagine putting on a special pair of goggles and suddenly being transported to a magical kingdom. You can see everything around you, interact with objects, and even have conversations with characters in that world. Virtual reality is like stepping into a whole new reality that feels so real, even though it’s all happening in a computer-generated space.
Electronic devices that you can wear on your body, like a watch or glasses, that are designed to connect, track, or enhance various aspects of your daily life.
Think of wearable tech as your digital buddy that you carry around with you on your body. It’s like having a helpful friend who never leaves your side, whether it’s a smartwatch that tells you the time, tracks your steps, or even lets you answer calls without taking out your phone. Just like how your shoes protect and assist your feet, wearable tech helps you in different ways throughout the day.