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Metaverse to Bring ‘Real Productivity’ to Industrial Environments: Davos 2023

by SuperiorInvest

The metaversion continues central to the negotiations between the leaders and decision makers in global industries. For many, the vision of the future of the metaverse is not limited to a gamified version of reality.

On World Economic Forum (WEF) 2023 in Davos, Switzerland, a panel of experts convened to discuss the global idea of ​​an industrialized metaversion. With echoes of the industrial revolution, the industrialized metaverse will bring Web3 technology to industries that are at play in everyday life.

The discussion “Deployment in the Industrialized Metaverse” began with Abdullah Alswa, Saudi Arabia’s Minister of Communications and Information Technology, who expressed that the current reality of digital engagement does not live up to its potential.

“The digital world we live in today is not fit for purpose for the 21st century.”

Instead, it could, and probably will do better, equalize current digital communication situations such as telecommuting. Alswaha continued:

“I’m a big believer in the meta version that it’s going to be the next wave of how immersive experiences work for consumers, businesses and industries.”

Peggy Johnson, CEO of augmented reality at Magic Leap, said that the industrial metaverse will only come into play when the digital and physical worlds begin to merge:

“That’s when it really comes to life in these industrial environments and brings real productivity.”

Åsa Tamsons, Senior Vice President and Head of Business Area Technology at Ericsson, said the technology is already in play with major use cases in the healthcare, automotive and consumer electronics industries.

Another example was retail onboarding:

“Major retail and consumer goods companies are working on how to use this metaverse technology to improve and reduce onboarding and employee training times.”

When the CEO of Siemens Healthineers, Dr. Asked specifically about metaverse technology in real-time situations in the healthcare industry, Bernd Montag said that although there are use cases, healthcare needs more time to catch on.

He explained why the healthcare industry can be considered digitally backward.

“The point is that you want to be as safe as possible. You want to have maximum confidence. That’s sometimes harder to solve, and that’s why adoption doesn’t come with a big bang either.”

However, he mentioned that the shift to 3D-assisted augmentation surgery is happening, albeit “very gradually.”

Related: Metaverse may create $5,000 in value by 2030, McKinsey report says

Both Tamsons and Johnson emphasized the need for government involvement in unleashing new technologies within the massive industry. This applies to many things such as security and privacy.

She continued to argue that there should be a line between under- and over-regulation.

“I think it’s the right way to bring new technologies. You don’t want to stifle innovation, but you also don’t want to enable it [it] in the wild without proper restrictions.”

At the recent Consumer Electronics Show 2023, a new metaverse technology was unveiled that could deploy touch and smell in digital realitywhich has the potential to improve interactions for both average and industrial applications in the near future.

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