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WEF Shows why we Need and Want a Mature Metaverse

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Switzerland is known for its annual meeting in Davos,  which brings together business leaders, politicians, academics, and other experts worldwide to discuss pressing global issues.

The WEF was founded in 1971 by Klaus Schwab, a German economist. The organization’s mission is to improve the state of the world by engaging leaders in partnerships to shape global, regional, and industry agendas.

Of particular focus this year was the metaverse and its enabling technologies, a testing ground for what might be if the metaverse is fully realized and a stark reminder of the factors hindering metaverse adoption:

  1. Lack of technical infrastructure: Building the metaverse requires a significant investment in infrastructure, including high-speed networks and powerful computing resources.
  2. Complexity: The metaverse is a complex and dynamic environment, making it difficult for users to navigate and understand.
  3. Interoperability: The metaverse comprises many different platforms and technologies, making it difficult for users to move between other parts of the metaverse.
  4. Regulation: There are currently few regulations governing the metaverse, which can make it difficult for companies to operate in this space.
  5. Privacy and security: As the metaverse becomes more prevalent, there are concerns about the privacy and security of user data, which could deter users from participating.
  6. Cost: As the metaverse is a new and rapidly developing technology, it may be costly to build and maintain for companies and individuals.

 

Currently, decision-makers are discussing the future of metaverse adoption at the WEF and figuring out how to solve the abovementioned challenges. But it’s looking positive; with the launch of the WEF’s official Global collaboration village in the metaverse and various metaverse, reports focused on topics like interoperability, decision-makers are taking the industry seriously.

Thus, finally, it seems the industry is moving away from the hype train of blockchain-enabled tech and toward maturity, something we all want and need as we enter 2023.

The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

Jack Boreham

Jack Boreham is the editorial director and account executive at the Metaverse Insider: the leading metaverse publication globally. Jack has been at the forefront of the platform's growth as a metaverse specialist -writing and advising projects in the Metaverse space for over two years. [email protected]

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The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Jake Vikoren

Jake Vikoren

Company Speaker

Deep Prasad

Deep Prasad

Company Speaker

Araceli Venegas

Araceli Venegas

Company Speaker

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