Future of social media technology

SOCIAL NETWORKS AND INNOVATIONS

Social networks are famously known for facilitating the fast spread of information, be it positive or negative. In this case however, the involvement of social media in the spread and diffusion of innovation has led to growth of very many different sectors as well as fields of life.

Social media may also a way to change the future. Ideas are shared over social media sites therefore encouraging innovative and creative people to develop new ways and means to deal with issues in life. Various companies are looking to social networking to help them grow their business as well as to grow their customer base.

Through these types of interactions and forums, it becomes quite easy for innovations of different types to come up. Networks either introduce disconnected individuals or facilitate new coordination between already connected individuals.

A social network innovation lab has been set up to carry out investigations on the various directions and forms innovations are taking as a result of the influence of social media.

The lab also has created forums for interaction for different individuals. An example is the Housing Partnership Network that has been an innovator for members in the affordable housing and community development sector.

Multiple strategies are adapted including member-sharing, replication, policy advocacy and collaborative enterprises.