The World Economic Forum, WEF is intentional about shaping perspectives when it comes to the uptick of newer technologies. Today, one stands out for sure as an intiative that must be allowed to align with sustainability.
The Defining and Building the Metaverse initiative, since its inception, has embraced the concept of the metaverse as the focal point for the next phase of the internet. Our community voices have emphasized that the future internet will be defined by an amalgamation of technologies.
Surfing A New Enterprise
Extended reality, artificial intelligence (AI), and blockchain will no longer operate independently but will be experienced collectively by users and enterprises. Their synergies will introduce transformative use cases, enhancing the internet experience for both individuals and businesses, thus generating significant economic and social value. Cross-industry collaboration is crucial to establish robust and widely accepted governance frameworks.
The initiative’s primary focus will be on exploring opportunities for convergence and the necessary governance to realize its value safely and sustainably. Metaverse technologies, alongside frontier technologies like AI, are revolutionizing consumer processes, the workforce, and enterprise operations.
Over the coming years, the convergence of these technologies will accelerate, creating a seamless interface between the real and digital worlds and unlocking new capabilities and use cases, fostering social and economic value.
For example, spatial learning experiences are proving successful in various industries and user contexts. By incorporating generative AI, these experiences can be further enhanced, improving quality and expanding their impact.
Moreover, integrating AI seamlessly into immersive experiences can amplify its value, while blockchain introduces transparency, trust, and asset ownership within immersive spaces, facilitating economic activity and value transfer across digital environments.
Companies are recognizing the revolutionary potential of technology convergence and are actively exploring solutions to expand their offerings, thereby multiplying their impact and value creation across enterprise functions.
As technologies converge more seamlessly, the resulting value impact could exceed the sum of their parts, presenting stakeholders with a multiplier effect. Partnerships will continue to evolve, with organizations leveraging each other’s strengths to bring novel capabilities to market.
Robust internet governance is imperative, particularly as we stand on the cusp of the internet’s next era. To ensure a safe, sustainable, and equitable future internet, it is essential to develop trustworthy governance principles that align with evolving user needs and rights.
The Stakeholder Factor
The governance track of the Defining and Building the Metaverse initiative will draw from the World Economic Forum’s work on digital trust to establish governance principles, empowering stakeholders to make informed decisions that benefit operational processes and end-users.
The initiative aims to advance understanding of the value of the next era of the internet and provide guidance for achieving and delivering that value in a safe, sustainable, and trustworthy manner. However, it will require the collaboration of stakeholders to fulfill this mission.
Governments, businesses, academia, and civil society all have vital roles to play as emerging technologies converge and transform the internet experience.
The Defining and Building the Metaverse Initiative seeks to serve as a catalyst for partnerships spanning these sectors.
