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The Evolution of Instant Messaging

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The concept of instant messaging crossed into the mainstream in the 1990s, allowing friends, acquaintances, colleagues, and like-minded thinkers from all over the world to connect in real-time.

Since then, instant messaging has revolutionized how we communicate, and today over 2.5 billion people are signed up for at least one messaging app. The present IM experience is seamless, and it intuitively integrates features like video, photos, voice, e-commerce, and gaming with plain-old messaging.

However, despite the impressive features of dominant apps like Snapchat, Facebook Messenger, and Whatsapp, today’s technology would simply not be possible without the earlier breakthroughs of their more rudimentary predecessors.

Instant Messaging: Past, Present, and Future

The following infographic from Hello Pal, a messaging app allowing for instant translation, shows the evolution of instant messaging. It pays homage to the advancements made in the early days by apps such as ICQ or AIM, while also looking at the trends in IM that will surface in the coming years.

The Evolution of Instant Messaging

While messaging is commonplace today, it was only two decades ago that chatting with friends and strangers online was a revolutionary concept.

The History of Instant Messaging

1961 – MIT’s Compatible Time-Sharing System (CTSS), along with other multi-user operating systems, helps to pioneer instant messaging by allowing up to 30 users to chat in real-time.

1988 – Internet Relay Chat (IRC) allows users to connect to networks with client software to chat with groups in real-time. IRC peaked in popularity in the 1990s, but still has hundreds of thousands of users today.

The late 1990s sees the first major competing IM platforms arrive: ICQ, AIM, MSN, and Yahoo all fight for market share in the new instant messaging market.

1992 – The first SMS message, “Merry Christmas”, is sent over the Vodafone GSM network in the U.K. in December.

1996 – Israeli company Mirabilis launches ICQ, which allowed users to chat one-on-one or in groups, exchange files, and search for other users. At its peak in 2001, ICQ had over 100 million accounts registered.

1997 – AOL launches AOL Instant Messenger (AIM), which pioneers the “Buddy List” concept. By the mid-2000s, AIM has the largest share of the instant messaging market in North America with 52%.

1998 – Yahoo! Messenger launches, allowing users with a Yahoo! ID to connect.

1999 – Microsoft releases MSN Messenger, a competitor to AIM and Yahoo. By 2005, roughly 2.5 billion messages are sent each day on the platform.

1999 – Across the Pacific Ocean, Tencent Holdings launches its first successful app. It’s called QQ, and it is initially a near-exact clone of ICQ.

To many, the 2000s is a Golden Age for instant messaging. Sharing photos, making video calls, and playing games are now common platform features

2001: By this time, only 30 million SMS text messages are sent per month in the United States.

2002: Apple launches iChat for its Mac OS X operating system, which is compatible with AIM.

2003: Skype allows Internet users to communicate with others through video, voice and instant messaging.

2005: Google Talk, available in a Gmail user’s window, is launched to allow easy communication between email contacts.

2006: MySpace launches the first instant messaging platform built within a social network: MySpaceIM.

2006: Market Snapshot (US Market)

  • AIM: 53 million
  • MSN: 27 million
  • Yahoo: 22 million
  • Google: 866,000

2006: By this time, 12.5 billion SMS text messages were sent each month in the United States

2008: Facebook Chat is released, allowing Facebook users to message friends or groups of friends on the social network. (Later on, Facebook would release a standalone mobile app version called Facebook Messenger in 2011.)

2009: An upstart WhatsApp allows users to text, send video, and audio for free.

Instant messaging undergoes a renaissance in the 2010s, as new apps like Snapchat, WhatsApp, and WeChat change how the game is played.

The popularity of new platforms change the concept of messaging entirely:

WeChat (2011)
Initially started by Tencent as a clone of WhatsApp, WeChat is now much more than a chat app. It’s a fully integrated mobile platform with shopping, payments, games, and much more.

WeChat processed $46 billion in payments in January 2016 – that’s about as twice as much as Paypal.

Snapchat (2011)
Snapchat, which is popular with millennials, allows users to send “snaps” which disappear after an allotted amount of time.

The app has evolved into a mix of private and public content, including brand networks and coverage of live events.

Slack (2013)
Slack’s workplace collaboration software allows teams to communicate easily and efficiently.

Slack was the fastest company to hit “unicorn” status ever, taking just 1.25 years to be worth over $1 billion.

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Chart of the Week

The 10 Breakthrough Technologies That Will Define 2019

Which innovations will dominate headlines in 2019? According to Bill Gates, watch for these 10 breakthrough technologies to change the world.

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The 10 Breakthrough Technologies That Will Define 2019

Gone are the days of turning stones into spears. With the advent of new technologies, we’ve learned to develop tools that not only make living faster and easier every day, but also improve the future of humanity as a whole.

Today’s Chart of the Week draws from the MIT Technology Review, which features Bill Gates’ predictions for the top 10 breakthrough inventions that will capture headlines in 2019.

Top 10 Breakthrough Technologies

1. Gut Probe in a Pill
These swallowable devices can detect and potentially prevent diseases that cause malnutrition and stunted growth in millions of children worldwide.

2. Custom Cancer Vaccines
Personalized cancer vaccines, targeting only the cancerous cells and leave healthy cells alone, could help ensure faster recovery times and pose fewer risks to patients.

3. Meat-free Burgers
Plant-based and lab-grown food products will ideally alleviate the environmental impact of the livestock industry.

4. Smooth-talking AI assistants
The AI assistants of the future will have even more human-like conversations to personally engage customers. Companies would see measurable benefits, with just one breakthrough here garnering a 5% jump in productivity.

5. Sanitation without sewers
Improperly drained sewage causes death in one out of every nine children. Sanitation that doesn’t require sewers would not only prevent exposure diseases but also help turn waste into useful products like fertilizer.

6. ECG on your wrist
While most medical ECGS have up to 12 nodes to detect abnormalities, today’s wearables typically have only one. An ECG on the wrist would help reduce the risk of heart disease by monitoring changes and patterns in daily life.

7. Robot Dexterity
Advancements in robotics will enable the natural dexterity required to complete a greater range of tasks, such as helping an ailing loved one out of bed, doing the laundry, or building toys.

8. Predicting Preemies
Premature births are the leading cause of death for children under five years old. Tests to detect the possibility of a premature birth could be available in doctors’ offices in as little as five years.

9. Carbon Dioxide Catcher
Carbon dioxide catchers filter out CO₂ from the air and capture it for other uses. These include synthetic fuel creation, CO₂ for soft drinks, and plant growth in greenhouses.

10. New-wave Nuclear Power
Traditional nuclear reactors produce ~1,000 megawatts (MW), while these proposed mini-reactors would produce tens of megawatts ─ making them safer, more stable, and more financially viable for potential users.

A Vision for a Better Future

The biggest takeaway?

Seven of the 10 breakthrough technologies stem from the healthtech sector.

While several inventions on this list are years away from becoming a reality, they continue to embody the vision and passion that humans share to create and explore.

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Visualizing the Importance of Trust to the Banking Industry

In the digital age, the issue of trust is emerging as the game-changing factor in how consumers choose financial services brands.

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Visualizing the Importance of Trust to the Banking Industry

In the digital age, money is becoming less tangible.

Not only is carrying physical cash more of a rarity, but we are now able to even make contactless payments for many of the products and services we use on the fly.

Our financial transactions are starting to be analyzed and optimized by artificial intelligence. Meanwhile, investments and bills are paid online, and even checks can now be deposited through our phones. Who has the time to visit a physical bank these days, anyways?

Trust in the Digital Age

The migration of financial services to the cloud is increasing access to banking solutions, while breaking down barriers of entry to the industry. It’s also creating opportunities for new service offerings that can leverage technology, data, and scale.

However, as today’s infographic from Raconteur shows, this digital migration has a crucial side effect: trust in financial services has emerged as a dominant driver of consumer activity.

This likely boils down to a couple major factors:

  • Tangibility
    Financial services are becoming less grounded in physical experiences (using cash, visiting a branch, personal relationships, etc.)
  • Personal Data
    Consumers are rightfully concerned about how personal data gets treated in the digital age

Further, the above factors are compounded by memories of the 2008 Financial Crisis. These events not only damaged institutional reputations, but they elevated trust to become a key concern and selling point for consumers.

Trust, by the Numbers

In general, trust in banks has been slowly on the rise since hitting a low point in 2011 and 2012.

At the same time, consumers are consistently ranking trust as a more important factor in their decision of where to bank. To the modern consumer, trust even outweighs price.

Top Five Factors for Choosing a Bank:

  1. Ease and convenience of service (47%)
  2. Trust with the brand (45%)
  3. Price/rate (43%)
  4. Service resolution quality and timeliness (43%)
  5. Wide network coverage of ATMs (40%)

It’s important to recognize here that all five of the above factors rank quite closely in percentage terms. That said, while they are all crucial elements to a service offering, trust may be the most abstract one to try and tackle for companies in the space.

With this in mind, how can financial services leverage tech to increase the amount of trust that consumers have in them?

Tech Factors That Would Increase Consumer Trust:

  1. Reliable fraud protection (36%)
  2. Technology solves my problems (13%)
  3. Useful mobile application (9%)

Better fraud protection capability stands out as one major trust-builder, while designing technology that is useful and effective is another key area to consider.

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