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"The move toward social media is as big a change as Gutenberg and the printing press," said Karl Long, a product manager at Nokia. "Social media is the ability for anyone to publish anything without any cost."

Panelists said the social media sites are changing communications.

The panelists said businesses are beginning to recognize the benefits of having conversations with consumers.

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Researchers at the National Academy of Sciences have found that the lightning pace of media brought on by Facebook feeds and Twitter has made the average person increasingly indifferent to human suffering.

When used in a self-centered fashion, it's one more piece of technology increasing the individualistic streak we see so much in Western culture and making us islands unto ourselves.

It's not a clear-cut question. Used properly, Twitter can be an amazing tool for shrinking our globe, quickening international response and building relationships.