I serve the technology community and they use many industry-specific acronyms in conversation. I’m often asked by non-technologists to define these terms. Plus, recently multiple episodes of Jeopardy! have featured contestants who worked in tech and categories about technology. It struck me that some tech terms are now used in mainstream conversation. So, here are seven acronyms that you can add to your vocabulary.
2FA: This means two-factor authentication. You will also hear MFA which is multi-factor authentication. These are security protocols that protect sensitive information. For example, when you want to access your bank account online, you may enter your username and password, then receive a text message with a code to enter before you are granted access. Here is a resource to learn more.
AI: This is short for Artificial Intelligence. It’s a computer that acts like a human.When you are on a website and someone pops up on the screen offering to help, that is an example of AI called a chatbot. You ask a question and the chatbot can direct you to appropriate areas of the website because it has learned from visitors who came before you asking the same or similar question. Here is an explanation that may interest you.
BI: This acronym stands for Business Intelligence. It is the process an organization uses to collect, cleanse, and present data. This could include filtering the data to answer a question and visually presenting the results in a graph. Companies use a data management tool (software) that provides a dashboard where they can filter the information to see specifically what they need to know to make decisions. Here are examples.
BYOD: Or, Bring Your Own Device, is when the organization you work for allows you to use your phone, laptop, etc., for business purposes. Here is information on the pros and cons of BYOD.
ERP: This is shorthand for Enterprise Resource Planning. It is a software platform (there are many) that everyone in an organization uses to manage their work. For example, both Human Resources and Accounting can use the same ERP, but for their own specific purposes. Here is some useful information.
NFT: A Non-fungible Token is a digital asset that represents real-world objects, like art, that were created, and only exist, online where they are bought, sold, and/or traded. Here is a more in-depth explanation.
SaaS: This is an acronym for Software as a Service. Instead of installing software on each of your devices, you access it from the cloud through the internet. Then you can use an app and connect to the software on all your devices. You no longer buy the software every time you need the new version, you pay a subscription fee usually monthly or yearly. Some examples of SaaS are Gmail, Spotify, and Dropbox. Here is a comprehensive look at Saas, including PaaS (Pizza as a service).
I have a habit of rattling off acronyms and industry terms. KPI, PIP, and WFH come to mind. On occasion, this makes communicating unclear. So, if you ever stumble over any shortcuts in my articles, feel free to DM me. What acronyms have you run across lately that I did not mention? Please share in the comments.