From the 1990s novel Snow Crash to the Matrix movies and the 2011 sci-fi book Ready Player One, humans have long envisioned a virtual world in which they can live, work and play. We call this the metaverse, and it’s becoming a reality faster than anyone could have expected.
Whether through VR or other technologies, the metaverse will shape human behavior in profound ways. Here are some of the most important ways it will do so:
1. A Safe Space for Young People
A virtual world separate from our physical reality, the metaverse is an immersive, 3D experience that’s accessible to multiple platforms and devices. It’s persistent, synchronized and social.
It may sound like a utopian dream, but it’s gaining traction in the real world. For example, the company that developed the popular Fortnite game is staking its claim in the metaverse. The CEO is even holding concerts and other events in the digital realm to promote his vision of a metaverse for all.
However, it’s important to remember that the metaverse can be damaging to people who aren’t prepared for its impact on their lives. The effects of prolonged exposure to digital technology are well-documented. To mitigate this, the metaverse must be framed as a dramatic new tool to boost human power, help people achieve their goals and break down barriers across the globe.
2. The Future of Relationships
The metaverse refers to a virtual world accessible through immersive technologies such as VR and AR headsets. It also depends on emerging trends such as digital currencies and non-fungible tokens (NFTs).
The current increase in attention to the metaverse is partly driven by the ability to fully 'own' virtual objects, experiences and land using blockchain technology. This new economy enables companies to sell real-life goods and services in the metaverse, such as a virtual building for Sotheby's or a simulated space for virtual shopping from a virtual storefront.
When done right, experts say the metaverse could boost teleworker camaraderie, speed up training and decrease the need for physical office space. But it also poses risks. It may create a digital divide between those with access to VR and those who don't. It also could cause people to develop more superficial relationships that lack the empathy of real-world interactions.
3. Co-Creation
Companies are rushing to invest in the metaverse, and this nascent technology could potentially transform work as we know it. The Metaverse could increase teleworker camaraderie, improve collaboration and reduce the need for office space. It may also eliminate jobs and require people to reskill.
New-Zealand start-up SoulMachines, for example, uses advanced computing and autonomous animation to create lifelike, emotionally-responsive digital humans. These "avatars" are being used as skincare consultants, covid health advisers, real-estate agents and educational coaches for college applicants.
However, most users are not yet compelled to participate in the metaverse for reasons other than games, money or pure peer recognition. To drive adoption, brands will need to provide compelling and authentic reasons for consumers to interact with them in this virtual world. This requires brands to parse consumer data and create metaverse experiences that appeal to different motivations.
4. Artificial Intelligence
Artificial intelligence (AI) is the science of teaching computers to think like humans. This technology is transforming how we work and play, providing new opportunities to advance humanity and improve the world.
Despite the fact that AI is still evolving, its impact is already evident. It is being used in areas such as medicine, education, finance and manufacturing. It has also made it easier for people to communicate with each other, helping them share knowledge and ideas across the globe.
The metaverse will take this a step further, enabling employees at the same company to meet up in virtual space to brainstorm on projects or pitch ideas. This could save companies money on travel expenses and overhead costs, while at the same time allowing employees to collaborate more efficiently. This is a powerful way that the metaverse will change the future of business.
5. Transparency
The metaverse is a network of 3-D virtual worlds that people can interact with and do business using their avatars. It’s like the Internet in the ’90s, and it’s poised to transform the world in ways we can’t even imagine yet.
Experts aren’t exactly sure what the metaverse is, but they know it will have a huge impact on the future of human life. It’s expected to revolutionize work, entertainment and even the way we socialize.
But the metaverse is also a potential threat to privacy. It can be used to collect a lot of information about the people who use it. This could include eye-tracking movements, hand gestures, the shape of a room and other things. Cybersecurity experts have warned about the dangers of this level of transparency. This is especially true if the metaverse is augmented by AI.
6. Empowerment
The metaverse is a virtual world where people can communicate with each other via avatars. It was first envisioned in science fiction novels like Neal Stephenson’s 1992 work Snow Crash and is now beginning to look more real than ever.
Many companies are building the tools that will allow us to explore and navigate the metaverse, including virtual reality headsets, augmented reality glasses and smartphone apps. Some, such as Facebook’s metaverse platform Meta1, require an account with the company; others, such as the upcoming MetaHuman Creator from Epic Games, will let you create your own digital doppelganger.
To harness the full power of this democratized movement, business leaders must ensure that the metaverse remains open and accessible. That means supporting open-source software and pursuing interoperability standards between different virtual worlds. It also means ensuring that workers can move between the real and metaverse worlds with ease.
7. Transparency in Business
The metaverse will provide a new way for people to socialize, play and work. Companies will be able to hold meetings in the virtual world with people who are spread across the globe. This will save time and money for companies.
Moreover, augmented reality (AR) will be another tool that can take the metaverse to the next level. AR is used to digitally enhance the physical world with immersive experiences and it will make it easier for people to get involved in the virtual world without having to wear a headset.
It is crucial to keep in mind that the metaverse has largely emerged in an open and decentralized manner, propelled by millions of developers and gamers. To keep this momentum, it is vital to support the growth of the metaverse by pushing for open-source software and standards and encouraging interoperability between different virtual worlds.
8. Education
The metaverse is a virtual world that will transform many aspects of our lives. It will be used for everything that the internet is currently used for today — from shopping and socializing to business and education.
The first metaverse applications are in gaming, but the technology is spreading quickly. Musicians and sports teams are already using VR to hold concerts and games, and companies like Epic Games have developed photorealistic avatars for their players in open-world games.
Unlike the current version of VR, which requires expensive and tethered headsets that aren’t practical for everyday use, the metaverse will be accessible on any device with a screen. This could include smartphones, tablets and even the current generation of TVs. This will broaden its reach beyond the elite early adopters of VR. It will also reduce the potential for harmful content.
9. Health
The metaverse is set to redefine the way we interact with each other and our surroundings. It could mean that people can meet for meetings without having to travel to a physical office or even have phone calls with their colleagues across the world.
It is also believed that the metaverse will make it easier for employees of companies to visit factories, distribution centers or construction sites on the other side of the world. For example, a manager could go into a metaverse simulation of a factory and be able to inspect equipment and meet with workers.
While the benefits of the metaverse are numerous, it has also been argued that long-term use may result in negative effects such as somatic depression, psychoticism and paranoia. Furthermore, the production of VR and AI will require a lot of energy that will negatively impact our environment.
10. Social
Creating digital avatars as a way to express oneself uniquely is another key aspect of the metaverse. People could design avatars that are exact reproductions of their real body or something more stylized.
Training would also be a big part of the metaverse, making it easier for people to practice new skills without risking their physical bodies. For instance, doctors might practice surgery or take safety training in a virtual setting before attempting it in the real world.
There are a few challenges with this type of immersive environment, however. First, we’ll need to figure out how to protect our privacy in a world where brands and other users can see everything we’re doing. We’ll also need to find a way to make the metaverse open and democratic instead of controlled by a few large technology companies, like Facebook.
