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The World Economic Forum (WEF) has published an article predicting how metaverse technology will evolve and how it will be introduced in different sectors. For the organization, the greatest impact of implementing this technology will be seen in industrial settings, where it will help perform more tasks and reduce expenses.

WEF believes Metaverse technology will impact industry first

The World Economic Forum (WEF) believes that the metaverse will be applied first in industrial environments, instead of first being adopted by consumers. In an article published January 13, the organization predicts that the implementation of the metaverse will be at the industrial level first, helping different companies to perform design and monitoring tasks more efficiently.

Two of the metaverse technologies that will become part of the industry in this new phase are digital twins and extended reality. The implementation of digital twins, the digitization of a group of elements from the real world, will make it possible to test the functionality of an element, or to examine the possible inefficiencies of an assembly line, or simply to prototype a model without having to physically build it.

Extended reality, another of the technologies mentioned in the article, will allow designers to mix real-world elements with digital ones, to examine the interactions between the two.

These technologies have already been adopted by several companies, including the car manufacturer Renault, which spear its industry metaverse in November, aiming to save $330 million by 2025 with implementation.

Consumer Metaverse

Although companies like Meta, which have invested billions in the sector, pay particular attention to the consumer metaverse, the WEF believes that these are the industries that will drive innovation.

The article states:

We will be developing many technologies for the industrial Metaverse that will make their way into the consumer Metaverse – from micro-optics and advanced haptic interfaces to AI sensing awareness.

The organization believes that once these two different metaverses are established, one will be able to enhance the other and vice versa. However, he recommends shifting the focus from resource investment in the consumer metaverse to the industrial metaverse, which is already happening in various sectors.

The WEF has already referenced the metaverse, posting recommendations for maintaining security and privacy on metaverse worlds in May 2022, especially when including children in these environments.

What do you think of the World Economic Forum and its focus on the industrial metaverse? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price spike happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at the social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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