We know from the essence of Moore's Law thattechnology advancement will continue to astound us for theforeseeable future. The general understanding that every 18 monthsthe power of computing will double while the cost is cut in halfhas resulted in an onslaught of new devices, new capabilities andnew issues.

Things like Google Glass and Oculus VR (virtual reality)headsets are just two examples of a future once only dreamed of inscience fiction books and movies.

On a practical level, we find in our homes devices andcapabilities that are bringing huge convenience and efficiencies.Advances like intelligent appliances or remote control over everyfunction in the home from your smartphone are driving technologydeeper into every crevice of our existence.

Parallel to what's happening to "things," there's anotherdevelopment that has some people worried and others enthused. Themost recent example of this is the new feature Facebook recentlylaunched called: Nearby Friends.

Nearby Friends works by using the GPS function of the phone toassess proximity to determine which of your friends are nearby. Youcan choose if you want to expose your location to them and for howlong.

Nearby Friends captures your location history and allowsFacebook to use the information for location-based advertising. Forexample, knowing you are approaching a Starbucks, Facebook couldshow on your phone an ad for a latte at half price. It could alsolearn whether that ad was persuasive enough to get you to go intothe Starbucks. This is very powerful information and for some, verycreepy.

Another advancement along similar lines is geo-fencing, arelatively new feature being added to many mobile apps. Withgeo-fencing, the business app sets a virtual fence around somedesignated point and when anyone with the app on his or her phonecrosses the line, he or she automatically receives an alert.

Imagine you're exhibiting at a trade show and immediately uponentering the exhibit hall, an attendee receives on his or hersmartphone an invitation for a drink or special event at yourbooth.

These developments represent a future full of possibilities aslong as we don't lose control over the decision to opt in.

Security is even more important. Given the numerous hacksagainst major corporate databases, how do we protect that sensitivelocation information from getting into the wrong hands? And if itdoes, who's to blame for the consequences? What about those smartdevices that communicate when they need repair, or the smokedetectors that call the fire department or the smarthome apps thatlet you secure your house remotely? Who's to blame and, more to thepoint, where does the homeowners' insurance come into play?

There has never been a time as replete with change as today, andmore great ideas will spring from that change. As insurance agents,you must stay on top of these changes, if not for your interests,then to make certain your clients are properly protected.

Some of you may think that these new gizmos and gadgets are ofno interest and don't really concern you. But it couldn't befurther from the truth.