Davos 2023: Metaverse to offer “real productivity” to industrial sectors

The metaverse is a topic of ongoing discussion among industry leaders and decision-makers, with many recognizing its potential to go beyond just a virtual version of reality.

At the 2023 World Economic Forum (WEF) in Davos, Switzerland, a group of experts gathered to explore the concept of an industrialized metaverse. Similar to the industrial revolution, this industrialized metaverse will integrate Web3 technologies into various aspects of daily life, revolutionizing industries.

Diversity in Opinions

The discussion on “Deployment in the Industrialized Metaverse” began with Saudi Arabia’s Minister of Communications and Information Technology, Abdullah Alswaha. He stated that the current state of digital engagement falls short of its full potential.

According to him, the digital world we live in today is not suitable for the 21st century. He argued that the current digital reality can be improved. Particularly for scenarios such as remote work, claiming the metaverse could provide the solution.

Abdullah Alswaha believes the metaverse will be the next frontier of immersive experiences for consumers, businesses, and industries. He also has a conviction that the metaverse will play a critical role in the future.

Klaus Schwab, chairman of the WEF, stated: "We need new ways of international cooperation, which will allow us to involve many more people into our discussions." https://t.co/OFDGrrQ1PL

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The CEO of augmented reality company Magic Leap, Peggy Johnson, also had a lot to say. She agreed that the industrialized metaverse would come to fruition when digital and physical worlds begin to converge. According to her, this convergence is when the metaverse comes alive and brings true productivity in industrial settings.

When asked about the use of metaverse technology in real-time scenarios in the healthcare sector, Dr. Bernd Montag, gave a straightforward answer. He acknowledged that while there are potential applications, the healthcare industry requires more time to embrace it fully. He further explained that the healthcare industry needs to catch up in digital adoption.

According to him, the healthcare industry is all about ensuring ultimate safety and trust, which can be challenging. That’s why adopting metaverse technology is not happening at a rapid pace. However, he did mention that the industry is moving towards augmenting surgeries with 3D technology, although the process is “very gradual.”

At the recent 2023 Consumer Electronics Show, new metaverse technology was displayed that incorporated touch and smell into digital reality, offering the potential to enhance interactions for both consumer and industrial use soon.