Here’s a quick test: Do you know what a blog is? What does RSS stands for? Are podcasts a part of your daily news-scanning routine?

If you answered no to any of these questions, technology futurist Ken Rutkowski says you had better catch up with the hundreds of business leaders in Nova Scotia’s thriving IT industry already taking advantage of these opportunities.

The California native and broadcast-industry commentator told guests at the recent 2007 ITANS annual dinner that innovations in the media, entertainment and technology market are changing the way the world does business and that they need to embrace new media or be left behind

"If you were to ask an old-school media company, ‘What is your product?’ they would tell you they produce shows, articles and content," says Rutkowski.

"Ask a new-school media company the same question, and they’ll tell you their products are their viewers, audience and community."

This small but powerful change to the business model is the reason that free websites such as YouTube and Facebook have built up millions of regular users solely by creating a place to connect with friends, family or like-minded individuals from around the world.

The company remains focused on the movement, management and measurement of their audience, leaving the users to create the content.

But content continues to be the driving force behind online traffic and business.

Thousands of videos, if not more, are uploaded onto

YouTube and similar sites every day.

Among the 106 million blogs in existence, there are too many daily posts to track.

Think now about the repeat web traffic caused by all user-generated content combined. Now you can see why advertisers, programmers, developers and technologists are paying attention. Not only that, but everyone is looking to get in on the action.

Through Skype, a communications software program with more than 245 million registered users, Rutkowski called on his friends to weigh in on the issue during his presentation — among them a finalist on the Apprentice, the world’s highest-earning professional video game, and the founder of Atari and Chuck E. Cheese. These businessmen are all finding their own success in the new world of user-generated content.

James Sun, runner-up on Donald Trump’s reality show, has established Zoodango, a social network for professionals. While using similar models as MySpace and Hi5, Zoodango combines contact lists with favourite coffee shops and restaurants to facilitate face-to-face meetings. Coffee giant Starbucks has already expressed interest in getting involved.

Nolan Bushnell, the founder of video-game consoles and one of the most famous pizza chains, said he would bank on the continued success of massive multiplayer online games, such as World of Warcraft, if asked to invest his riches into a portion of the online evolution. I’m sure Johnathan Wendel (a.k.a. Fatal1ty) would agree, as he earns more than $10 million annually competing in video game competitions and handling sponsorships, merchandise and his own business.

What about Rutkowski? With a network that includes business leaders from all around the world and his own broadcasts attracting an audience from more than 40 countries, he said he is confident in his prediction of the battle sure to shape the coming years of the market.

"Apple and Nokia will be the ones to watch. The people who have Mac computers here today are the smart ones," said Rutkowski. "As for cellphones, they are becoming the key to content with camera and video capabilities, music playback and Internet access."

As content continues to be the driving force behind online business and technology, the industry has become a playground for innovators, including many here in Nova Scotia. Over the next few months we’ll be offering the views of these forward-thinking professionals. In the meantime, click over to a blog or download a podcast. You’ll thank me later.