WiZ iQ is an online teaching platform created to provide a free alternative to expensive conferencing tools. It allows users to connect live from anywhere in the world through a virtual classroom environment for synchronous teaching and learning. Key components include live audio/video communication, content sharing through documents and whiteboards, and archiving of sessions for later review. Some benefits are more engagement for students, support for various learning styles, and the ability to continue discussions outside the classroom. Potential disadvantages include the learning curve for teachers and time needed to set up virtual classrooms and assessments.