By Bobby Carlton
For some time now, people have been captivated by the notion of how new technologies will change the way we work, socialize, seek out entertainment, and approach education. This has led to the development of new ideas about how to create a better computing system for todays digitally connected world. Web 3.0 and spatial computing are innovations that will allow people to bring that vision to life.
Although some argue that Web 3.0 is here thanks to AR/VR technologies, others feel it's still in development but just around the corner. The fact is that the core components of Web 3.0 are here thanks to innovations such as AI, blockchain, VR/AR, IoT, and 5G.
Web 3.0 aims to drastically expand the utility of the internet, which has evolved from its text-based origins to a more interactive and socially consumed form of content creation. These technologies will allow people to experience a more intelligent and user-friendly digital world.
Despite the technological advancements that have occurred over the past few years, the user experience on the web has always been this 2D experience. XR (VR/AR) and other similar technologies will allow people to experience a more accurate, interactive, and user-friendly digital world.
The spatial computing is a project that aims to digitize our 2D content and turn them into 3D worlds to transform them into a digital twin that's more accurate and user-friendly. The idea is that will allow people to interact with the virtual world around them through VR/AR and AI.
There are a lot of different names for this approach. The most popular has been the metaverse. However there are a number of other terms being used. Here are a just a few:
A report released in 2020 by Deloitte stated that the spatial web ( the term used by Deloitte) is the next evolution in information technology and computing. It is similar to the development of Web 1.0 and 2.0, and it will eliminate the boundary between physical objects and digital content.
The term spatial refers to the idea that digital information will be integrated into your physical real-world space, which is an inseparable part of the physical world.
In an article published on the Singularity Hub, Peter Diamandis, a prominent Silicon Valley investor, stated that the world will be filled with rich, interactive, and dynamic data over the next couple of years. This will allow people to interact with the world around them in various ways. The article also noted that the spatial web will transform various aspects of our lives, including education, retail, advertising, and social interaction.
The spatial web is built on the various technological advancements that have occurred over the past few years, such as Artificial Intelligence (AI), VR, blockchain, and IoT. These technologies are expected to have a significant impact on the development of the digital world and Web 3.0.
The four major trends that are expected to have a significant impact on the development of the digital world are expected to combine to create a single meta trend. This will allow computing to move into the space between the physical and digital worlds. This will allow future systems to interact with the world around them in various ways.
The various sensors and robotic systems that will be used in the virtual worlds will be able to collect and store data in order to support the spatial web. This will allow users to interact with the world around them in various ways. At the same time, the data collected and stored by these systems will be used to create reports and other applications that will allow individuals to interact with the world around them, and provide businesses with data-rich KPIs.
For instance, in the warehousing industry, traditional methods of picking and transporting orders have been used to successfully accomplish the task of navigating through millions of square feet of warehouse space. With the increasing number of websites that promise next day delivery, warehouses are constantly looking for new ways to improve their efficiency.
Through the use of robotics, automation, and various data points such as the location of cameras and sensors, the system can create 3D maps of warehouses. It can also suggest the ideal warehouse layout based on the data collected by its human workers, create "what if" scenarios, create improved employee training, uncover "hidden factories", and streamline workflow. This method can increase efficiency by up to 50%.
Another positive is that the use of this technology can help companies reduce their turnover rate and improve their employee satisfaction. It can also help them increase their self-worth by allowing them to perform their job more efficiently.
Although the spatial web is only a small glimpse of the potential of the future for business, it is still important to note that the various technologies that are currently being developed are still in their early stages of development. In a Baystreet article, the concept of the smart world of tomorrow relies on the four lenses that are designed to create a seamless and harmonious interaction between man and machine.
The spatial web is a framework that aims to enable the interoperability of various sub sectors and technologies. It can help create a network where all of these technologies can work together seamlessly. This will allow the ideologies of Human 2.0, Society 5.0, Industry 4.0, and Web 3.0 to transform into reality.
Smart factories will allow workers to collaborate and create a virtual environment where they can work together seamlessly. This can help them improve their efficiency and create a more harmonious environment for their customers. With the help of technology such as AR and VR, you can take a full-scale model of your company's product and visualize its various components in a room.
After the design has been created, it will be made available to the machines and robotic systems that will be used to create a digital twin. Combined with the use of AI and other advanced technologies, these systems will be able to track and automate the various parts of the product as it moves through your factory.
From there, it becomes a cascade of efficiencies. Your products will be loaded and delivered to your customers on time thanks to automation, robotics, and a well trained workforce.
Retail outlets will use Web 3.0, XR tools and digital information to create an improved shopping experience in their stores. Through the use of smart mapping and routing technology, they will be able to improve the efficiency of the shopping experience that will allow them to map out the path that is most likely to lead to their desired items, or help them with product placement.
We are not totally there just yet but as technologies improve, we are seeing more adoption in many industries. Yes, there is an investment up front to you into Web 3.0 and spatial computing, but by educating yourself in digital twinning, the metaverse, real to life virtual spaces - or whatever you'd like to call it - employee safety, improved workflow, and ROI is what stands out.
By Bobby Carlton
In the past year we have seen a lot of movement with brands and industries shifting towards a mission statement that embraces virtual tools and XR enterprise solutions. One company making that shift is the tech giant Microsoft. To help them stay focused on making strategic steps towards that goal, they have created an internal group called the Industrial Metaverse Core, which will explore immersive tech for workers in the industrial sector.
After all, the use of a digital twin is more sustainable, allows companies to explore scenarios without putting employees in danger or using actual products, has a proven ROI, and it can give you supercharged KPIs and data.
Through the use of XR solutions, Microsoft aims to enhance the core capabilities of industrial work by developing software interfaces that can be used in various functions such as industrial robotics, automated warehouses, and control systems for electrical plants. The company also claims that a virtual world that's focused on factory environments could be used to monitor machines, automated warehouse environments, and help with overall workplace safety.
In addition, Microsoft's industrial offerings will also cover transportation networks. In 2018, the company acquired AI startup company Bonsai, which it said would be integrated into the company's Azure public cloud. Gurdeep Pall, the corporate vice president of Microsoft's autonomous systems division, noted that the service would be used on the company's platform.
Through the company's services, industrial engineers are able to combine AI and XR with their existing processes and equipment, and it can be done regardless of the engineer's experience in software development.
One company looking to take advantage of XR technology is Mercedes-Benz. The automobile company has partnered with Microsoft and is reportedly working on developing a new XR data platform that will allow the German carmaker to improve its vehicle production efficiency by connecting Microsoft’s Cloud with Mercedes-Benz’s newly-introduced MO360 Data Platform.
The platform will be able to connect with the company's existing data infrastructure, which would help Mercedes-Benz improve in three ways; vehicle-production efficiency, sustainability, and resilience.
“This new partnership between Microsoft and Mercedes-Benz will make our global production network more intelligent, sustainable and resilient in an era of increased geopolitical and macroeconomic challenges,” said Joerg Burzer, a member of the Board of Management of Mercedes-Benz Group AG, Production & Supply Chain Management. Burzer continues, “the ability to predict and prevent problems in production and logistics will become a key competitive advantage as we go all electric.”
Mercedes-Benz’s Chief Information Officer, Jan Brecht, provided additional advantages of MO360’s operability saying, “With the MO360 data platform, we democratize technology and data in manufacturing. As we are moving toward a 100% digital enterprise, data is becoming everyone’s business at Mercedes-Benz. Our colleagues on the shop floor have access to production and management-related real-time data. They are able to work with drill-down dashboards and make data-based decisions.”
Brecht says this will allow everyone in the organization to access and use real-time data and noted that the platform would allow employees to make better decisions and improve their efficiency.
Of course we are only talking about the automobile industry. Microsoft looks to use their Industrial Metaverse Core and explore how immersive technology and XR enterprise solutions can have a positive impact on all types of work.
According to Althoff, organizations can use machine learning and artificial intelligence to analyze and improve the data they collect in an enriched state. These capabilities can then be used to create digital twins of their operations.
He said that creating digital twins can help improve the efficiency and effectiveness of industrial processes by allowing workers to access and manage different parts of the operation.
Through the use of digital twins, employees can also connect with their digital feedback loop. He said that by feeding the twins into experiences that are on handheld devices, they can easily create their own app tool chains that will allow them to interact with their lives in a digital manner.
“You can think of this as the model teaching the people and the people teaching the model for real time digital feedback and enhanced learning."
Despite the various changes that have occurred in the metaverse, Althoff noted that the industrial metaverse is still in its infancy. He said that hundreds of organizations are already using these capabilities in their operations.
Althoff indicated that sustainability could be one of the biggest benefits presented by the industrial metaverse.
“If you make anything or you move anything, you create a carbon footprint,” he said. “If we can simulate that infinitely in the cloud before you make it or before you move it, we can help you build better products more effectively, more efficiently, with lower carbon footprint, lower water utilization, more sustainably than ever before.”
Through its industrial metaverse capabilities, Microsoft has been able to help companies like Hellenic, which is one of the largest producers of Coca-Cola products in Europe. With over 55 facilities across the continent, Hellenic is able to produce over 90,000 bottles of Coca-Cola per hour on a single production line.
According to Althoff, the company was able to reduce its energy consumption by over 9% in just 12 weeks by implementing a sensor fabric and creating digital twins.
That is a pretty huge benefit.
By Bobby Carlton
The rise of Industry 4.0 has created new opportunities for manufacturers to improve their efficiency and deliver new revenue streams. Through the use of advanced analytics, XR solutions and machine learning, companies are able to collect and analyze crucial data to improve their operations.
The benefits of implementing advanced analytics and machine learning are numerous, such as improving product quality and reducing production downtime. However, implementing these technologies in a large-scale manner can be a bit of a challeng for some due to the lack of engagement and legacy operations.
The rapid emergence and evolution of Industry 4.0 has created a huge opportunity for companies to improve their efficiency. According to a report by Statista, the market for advanced analytics and machine learning is expected to reach $1 trillion by 2028.
The increasing interest in using sensor networks is due to their ability to create feedback loops to improve the efficiency of manufacturing operations. This process can help identify “hidden factories”. These are bottleneck points or costly problems that are miniscule but in the long run can slow down production.
At the same time, you’re able to use technology for predictive maintenance, explore what-if scenarios, and reduce the costs of operations and highlight advanced analytics.
Despite the widespread use of Industry 4.0, many companies fail to collect and analyze data quickly enough. This is because companies tend to implement the technology in a way that's faster than it can be used.
The biggest barriers to the implementation of Industry 4.0 are the legacy mindsets of employees and operations practices. Despite the significant investment in new technology, these practices still prevent companies from fully embracing the potential of Industry 4.0.
One of the core challenges industries face in embracing the potential of Industry 4.0 is the lack of standardization. This is because there are many different ways of working that make it hard to identify the most effective ways to improve productivity and reduce risk.
Some employees will revert to the old ways of working when new innovations are introduced. This is because they don't trust the new technology such as robotics or XR, and are afraid to take on the new challenge. The value of implementing new technology is not realized until the old methods are phased out.
One of the biggest factors that prevents companies from fully embracing the potential of Industry 4.0 is the lack of preparation. Although many companies have the necessary resources to implement advanced software and sensors, they underestimate the training requirements of their workforce, they lack a strategy to blend new workflow methods into traditional approaches.
A great example of this is introducing VR headset into the workforce. You need to consider what is the strategy to do this with the least amount of disruption and the least amount of employee alienation.
A plan should be developed to avoid the trap of buying technology that's not being used properly or doesn't deliver the desired results. You should consider a more measured approach to the transition process that involves addressing cultural norms and systems thinking.
This step will help companies develop a comprehensive plan that will guide their efforts in implementing Industry 4.0. It will also help them identify the most effective ways to improve their internal processes through technology.
One of the most important factors that employers should consider when it comes to implementing Industry 4.0 is identifying the most critical problems that will drive their transformation efforts. Unfortunately, many companies only install networks that are made up of hundreds of sensors and then try to solve them using a solution that's not designed to solve them.
Start small. For example instead of creating a digital twin of an entire factory floor that included interactivity, high fidelity 3D art, and avatars. You should start off by building out a single room or a section. Take a basic scan using LiDAR to introduce the virtual environment and use that as a foundation to introduce your employees to it. From there, you can then scale up and build off of those successes.
Have a moderated approach that involves identifying the most critical problems that will drive their transformation efforts. This step will help companies identify the most effective ways to improve their internal processes. One of the most important factors that employers should consider when it comes to implementing Industry 4.0 is engaging their employees to identify the most critical issues that will drive their transformation efforts.
This exercise can help you identify the areas where they can make improvements. Another important factor that employers should consider is putting in place processes that can reduce the time it takes to implement the technology.
Before implementing Industry 4.0, it is important that employers adopt a sequence of technology upgrades while also removing outdated systems. With the help of advanced algorithms, sensors, and cloud platforms, workers can gain new insights. Unfortunately, once they encounter problems or outdated methods of working, they will revert to their old ways of doing business. So it needs to be a commitment.
To help the workforce adapt to the new technology, companies should introduce incremental and tightly scoped initiatives. Doing so will allow them to easily digest the changes and improve their performance. However, it is also important to remove outdated systems to prevent your teams from returning to their old ways of doing business.
Jens Huang talks about the future of AI, robotics, and how NVIDIA will lead the charge.
By Bobby Carlton
A lot was announced and I did my best to keep up! So let's just jump right in!
NVIDIA CEO Jens Huang unveiled new cloud services that will allow users to run AI workflows during his NVIDIA GTC Keynote. He also introduced the company's new generation of GeForce RTX GPUs.
During his presentation, Jens Huang noted that the rapid advancements in computing are being fueled by AI. He said that accelerated computing is becoming the fuel for this innovation.
He also talked about the company's new initiatives to help companies develop new technologies and create new experiences for their customers. These include the development of AI-based solutions and the establishment of virtual laboratories where the world's leading companies can test their products.
The company's vision is to help companies develop new technologies and create new applications that will benefit their customers. Through accelerated computing, Jens Huang noted that AI will be able to unlock the potential of the world's industries.
The New NVIDIA Ada Lovelace Architecture Will Be a Gamer and Creators Dream
Enterprises will be able to benefit from the new tools that are based on the Grace CPU and the Grace Hopper Superchip. Those developing the 3D internet will also be able to get new OVX servers that are powered by the Ada Lovelace L40 data center. Researchers and scientists will be able to get new capabilities with the help of the NVIDIA LLMs NeMo Service and Thor, a new brain with a performance of over 2,000 teraflops.
Jens Huang noted that the company's innovations are being put to work by a wide range of partners and customers. To speed up the adoption of AI, he announced that Deloitte, the world's leading professional services firm, is working with the company to deliver new services based on the NVIDIA Omniverse and AI.
He also talked about the company's customer stories, such as the work of Charter, General Motors, and The Broad Institute. These organizations are using AI to improve their operations and deliver new services.
The NVIDIA GTC event, which started this week, has become one of the most prominent AI conferences in the world. Over 200,000 people have registered to attend the event, which features over 200 speakers from various companies.
A ‘Quantum Leap’: GeForce RTX 40 Series GPUs
NVIDIA's first major event of the week was the unveiling of the new generation of GPUs, which are based on the Ada architecture. According to Huang, the new generation of GPUs will allow creators to create fully simulated worlds.
During his presentation, Huang showed the audience a demo of the company's upcoming game, which is called "Rover RTX." It is a fully interactive simulation that uses only ray tracing.
The company also unveiled various innovations that are based on the Ada architecture, such as a Streaming Multiprocessor and a new RT Core. These features are designed to allow developers to create new applications.
Also introduced was the latest version of its DLSS technology, which uses AI to create new frames by analyzing the previous ones. This feature can boost game performance by up to 4x. Over 30 games and applications have already supported DLSS 3. According to Huang, the company's technology is one of the most significant innovations in the gaming industry.
Huang noted that the company's new generation of GPUs, which are based on the Ada architecture, can deliver up to 4x more processing throughput than its predecessor, the 3090 Ti. The new GeForce RTX 4090 will be available in October. Additionally, the new GeForce RTX 4080 is launching in November with two configurations.
Huang noted that the company's Lightspeed Studios used the Omniverse technology to create a new version of Portal, one of the most popular games in history. With the help of the company's AI-assisted toolset, users can easily up-res their favorite games and give them a physical accurate depiction.
NVIDIA Lightspeed Studios used the company's Omniverse technology to create a new version of Portal, which is one of the most popular games in history. According to Huang, large language models and recommender systems are the most important AI models that are currently being used in the gaming industry.
He noted that recommenders are the engines that power the digital economy, as they are responsible for powering various aspects of the gaming industry.
The company's Transformer deep learning model, which was introduced in 2017, has led to the development of large language models that are capable of learning human language without supervision.
“A single pre-trained model can perform multiple tasks, like question answering, document summarization, text generation, translation and even software programming,” said Huang.
The company's H100 Tensor Core GPU, which is used in the company's Transformer deep learning model, is in full production. The systems, which are shipping soon, are powered by the company's next-generation Transformer Engine.
“Hopper is in full production and coming soon to power the world’s AI factories."
Several of the company's partners, such as Atos, Cisco, Fujitsu, GIGABYTE, Lenovo, and Supermicro, are currently working on implementing the H100 technology in their systems. Some of the major cloud providers, such as Amazon Web Services, Google Cloud, and Oracle, are also expected to start supporting the H100 platform next year.
According to Huang, the company's Grace Hopper, which combines the company's Arm-based CPU with Hopper GPUs, will deliver a 7x increase in fast-memory capacity and a massive leap in recommender systems, weaving Together the Metaverse, L40 Data Center GPUs in Full Production
During his keynote at the company's annual event, Huang noted that the future of the internet will be further enhanced with the use of 3D. The company's Omniverse platform is used to develop and run metaverse applications.
He also explained how powerful new computers will be needed to connect and simulate the worlds that are currently being created. The company's OVX servers are designed to support the scaling of metaverse applications.
The company's 2nd-generation OVX servers will be powered by the Ada Lovelace L40 data center GPUs. Thor for Autonomous Vehicles, Robotics, Medical Instruments and More.
Today's cars are equipped with various computers, such as the cameras, sensors, and infotainment systems. In the future, these will be delivered by software that can improve over time. In order to power these systems, Huang introduced the company's new product, called Drive Thor, which combines the company's Grace Hopper and the Ada GPU.
The company's new Thor superchip, which is capable of delivering up to 2,000 teraflops of performance, will replace the company's previous product, the Drive Orin. It will be used in various applications, such as medical instruments and industrial automation.
3.5 Million Developers, 3,000 Accelerated Applications
According to Huang, over 3.5 million developers have created over 3,000 accelerated applications using the company's software development kits and AI models. The company's ecosystem is also designed to help companies bring their innovations to the world's industries.
Over the past year, the company has released over a hundred software development kits (SDKs) and introduced 25 new ones. These new tools allow developers to create new applications that can improve the performance and capabilities of their existing systems.
New Services for AI, Virtual Worlds
Huang also talked about how the company's large language models are the most important AI models currently being developed. They can learn to understand various languages and meanings without requiring supervision.
The company introduced the Nemo LLM Service, a cloud service that allows researchers to train their AI models on specific tasks, and to help scientists accelerate their work, the company also introduced the BioNeMo LLM, a service that allows them to create AI models that can understand various types of proteins, DNA, and RNA sequences.
Huang announced that the company is working with The Broad Institute to create libraries that are designed to help scientists use the company's AI models. These libraries, such as the BioNeMo and Parabricks, can be accessed through the Terra Cloud Platform.
The partnership between the two organizations will allow scientists to access the libraries through the Terra Cloud Platform, which is the world's largest repository of human genomic information.
During the event, Huang also introduced the NVIDIA Omniverse Cloud, a service that allows developers to connect their applications to the company's AI models.
The company also introduced several new containers that are designed to help developers build and use AI models. These include the Omniverse Replicator and the Farm for scaling render farms.
Omniverse is seeing wide adoption, and Huang shared several customer stories and demos:
The company also introduced a new Nano for Robotics that can be used to build and use AI models.
Huang noted that the company's second-generation processor, known as Orin, is a homerun for robotic computers. He also noted that the company is working on developing new platforms that will allow engineers to create artificial intelligence models.
To expand the reach of Orin, Huang introduced the new Nano for Robotics, which is a tiny robotic computer that is 80x faster than its predecessor.
The Nano for Robotics runs the company's Isaac platform and features the NVIDIA ROS 2 GPU-accelerated framework. It also comes with a cloud-based robotics simulation platform called Iaaac Sim.
For developers who are using Amazon Web Services' (AWS) robotic software platform, AWS RoboMaker, Huang noted that the company's containers for the Isaac platform are now available in the marketplace.
New Tools for Video, Image Services
According to Huang, the increasing number of video streams on the internet will be augmented by computer graphics and special effects in the future. “Avatars will do computer vision, speech AI, language understanding and computer graphics in real time and at cloud scale."
To enable new innovations in the areas of communications, real-time graphics, and AI, Huang noted that the company is developing various acceleration libraries. One of these is the CV-CUDA, which is a cloud runtime engine. The company is also working on developing a sample application called Tokkio that can be used to provide customer service avatars.
Deloitte to Bring AI, Omniverse Services to Enterprises
In order to accelerate the adoption of AI and other advanced technologies in the world's enterprises, Deloitte is working with NVIDIA to bring new services built on its Omniverse and AI platforms to the market.
According to Huang, Deloitte's professionals will help organizations use the company's application frameworks to build new multi-cloud applications that can be used for various areas such as cybersecurity, retail automation, and customer service.
NVIDIA Is Just Getting Started
During his keynote speech, Huang talked about the company's various innovations and products that were introduced during the course of the event. He then went on to describe the many parts of the company's vision.
“Today, we announced new chips, new advances to our platforms, and, for the very first time, new cloud services,” Huang said as he wrapped up. “These platforms propel new breakthroughs in AI, new applications of AI, and the next wave of AI for science and industry.”
By Bobby Carlton
The Internet of Things (IoT) is a system of devices and objects that can be connected to each other and communicate with other systems and devices without human intervention. These objects or devices usually have sensors, cameras, and RFID tags, and they can communicate with one another through a communication interface. These systems can then perform various tasks and provide a single service to the user.
The truth is that IoT is the foundation and backbone of digital twinning.
As we become more digitally connected in almost all aspects of our lives, IoT becomes a vital component of the consumer economy by enabling the creation of new and innovative products and services. The rapid emergence and evolution of this technology has led to the creation of numerous opportunities but also some challenges.
Due to the technological convergence across different industries, the scope of IoT is becoming more diverse. It can be used in various fields such as healthcare, home security, and automation through devices such as Roomba’s or smart speakers. Of course there are also numerous embedded systems that can be used in this technology such as sensors, wireless communications, and the automation of your home or business.
With the rapid increase in the number of connected devices and the development of new technologies such as AR,VR, and XR, the adoption of these products and services is expected to increase.
According to Statista, the global market for IoT is currently valued at around 389 billion US dollars. This value is expected to reach over a trillion dollars by 2030 reflecting the increasing number of connected devices and the technological advancements that have occurred thanks to the growth of digital twinning. It is also expected to boost the customer economy by increasing the demand for various products and services.
In 2020, the consumer market contributed around 35% of the IoT market's value. However, it is expected that this will increase to 45% by 2030. This is because the market is expected to expand with the emergence of new markets such as the automotive, security, and smartphone sectors.
The concept of the Internet of Things is a device layer that enables the connectivity of various devices that were previously not connected to the internet. It can also act as a connective link between different devices, such as tablets and smartphones.
These devices can connect using various types of wireless networking solutions and physical means, and they can also communicate with one another and the cloud. Through the use of sensors, these systems can provide users with a variety of services and features. They can be controlled and customized through a user interface, which is typically accessible through a website and app.
A typical smart bulb IoT system consists of various components such as a wireless communication interface, LED light-generating devices, and a control system. These components work together seamlessly with the user being able to access their devices through a mobile app or website. A great example of this is a Google Nest system to monitor your front door and your home thermostat, which can be purchased at almost any hardware or lifestyle store.
Aside from these, other IoT systems such as smart televisions, smart refrigerators, and smart speakers are also becoming more popular among consumers. These kinds of devices can be combined with a home's existing smart home technology to provide users with a variety of services and features designed to streamline and automate your home experiences.
Of course privacy and data are two things consumers and businesses need to consider when bringing these devices into their environments. How much are you giving up in order to streamline or automate your home or business? We are already in the habit of giving up some of our privacy through smartphone use and other wearables.
One of the most common uses of IoT technology in the consumer economy is to improve customer service. Enterprises use it to improve the efficiency of their distribution channels by implementing a variety of systems, such as inventory management and product tracking. In addition, construction sites and cars are also using IoT to monitor their environments to reduce downtime and improve their overall performance.
Other industries that use IoT primarily include government facilities, transportation systems, and healthcare systems. Through the use of IoT, these organizations can improve the efficiency of their operations and increase the effectiveness of their systems. The technology can help the consumer economy by enhancing the service provided by their organizations.
The connectivity and data technology has also improved, with devices now capable of handling and storing large amounts of data. The ability to process and analyze data is becoming more sophisticated. Various factors such as the evolution of cloud technologies and the increasing capacity of storage systems have made it easier for devices to store and process data.
The increasing number of companies and organizations investing in the development of IoT devices is expected to continue to increase, and this will help them gain a competitive advantage and develop new solutions that will significantly impact the consumer economy.
Guest Post by Joshua Kennedy
When we think of the term "metaverse", the mind often drifts to images of the matrix, modern-day gaming experiences, or the movie "Ready Player One", which was a fairly good watch all things considered. However, concepts such as virtual reality (VR), augmented reality (AR), and the metaverse are all associated with informal gaming circles or the immersive experience you get at a science and technology fair.
These days, the metaverse and the accompanying technology are seeing more and more permeation into more formal sectors, like businesses and educational institutions. A great example is how businesses are using the metaverse to create virtual rooms to hold conferences and interviews in. They are literally creating a digital copy of their workplace.
If you look at the evolution of this form of long-distance communication, we started working in offices pre-pandemic. Then came the lockdown, and we all shifted to Zoom meetings during those pressing times. So, even though the peak of the pandemic is tentatively behind us, the need for long-distance communication solutions in the workplace remains constant.
This is mostly due to the fact that we seem to have permanently adopted remote and hybrid work models, which have proved to be quite beneficial. This in turn gave rise to another trend that rose alongside the metaverse and that is automation. A good example of this is Credibled, which is an automated reference checking platform that helps streamline the back-and-forth process between employers, employees and referees.
With that in mind, you could consider the further permeation of the metaverse as the next logical step in meeting those needs. Even with this need, there are certain gaps that we will address in this blog and speculate where it might lead us later down the road.
There Is a Gap in Metaverse Adoption
Most of us have heard of the metaverse but have never experienced it for ourselves.For the most part, we are only seeing VR and AR tech being used in business arenas and educational settings. But why is that? Why is it that, unlike Zoom meetings and phone calls, metaverse tech isn’t more commonly used by every-day-people?
One of the main reasons that could be a contributing factor is that technology is still in its infancy. The level of immersiveness that we have been able to achieve so far has been great, but there is still room for improvement. And to be fair, we are far from the Matrix level of immersive.
Another reason why there is a gap preventing the normalization of the metaverse every day is that there are a lot of misconceptions surrounding it. For the purposes of this article, we will focus on five of the biggest misconceptions.
Misconceptions When It Comes to the Metaverse
How Metaverse Tech is Meeting the Future of Work
Decentralization: As mentioned before, decentralization is one of the biggest ways that the metaverse will meet the future of work. Rather than looking at it as an entity that no one has control over, we can see it as a truly democratic ecosystem. It will be a landscape that has diversity and equality as its foundation. This will essentially translate to digital sovereignty for all those involved, and in terms of the inclusive workspaces that companies are working towards, this aligns quite well.
Spatial Computing: The ability of the metaverse to replicate real-world spaces in 3D models is something that will play a huge role in the seamless transition. The intricate modeling frameworks and 3D visualizations will allow businesses to more easily adopt and operate within this space. A good example of this is how some companies are already conducting virtual interviews and conferences in the metaverse.
Human Interface: With the growing demand for the metaverse in the workplace, so too, grows the need to interact with it. This pushes the development of tools like VR headsets, AR glasses, haptics and the like. This brings us back to the previous point of a seamless transition and ease of operation for those who take this path. What this also means is that we will have better, more immersive ways to communicate with one another in the digital realm.
Creator Economy: Since 2014, we have seen the rise of a creator economy in the virtual space through NFTs (Non-Fungible Tokens). This has become intertwined with the cryptomarkets and blockchain technology. And with Web3 and the metaverse of the future being all about the blockchain, we might see a new form of business integration with the creator economy.
Universal Experience: One of the biggest benefits of the metaverse is the universality that it brings to the table. In the future, the metaverse will enable people to communicate without having to learn a new language just so they can work together. Voices can be changed, languages can be translated and workplaces in the digital space can become more inclusive, diverse, and globally spread out.
Where Is the Metaverse Heading?
According to a Pew Research Report, 54% of experts believe that by 2040, the metaverse will be more refined and immersive. They also expect it to become a fully integrated and functional aspect of daily life for around half a billion people or more, worldwide. The other 46% think that this won’t be the case.
As of now, metaverse tech isn’t there yet, but still in its infancy. So, how do we bridge the gap and get it out there more? Well, everything points to one common answer: time. With time, technology will develop, and so too will the ability of the average person to access and interact with metaverse technology.
One thing that the experts are agreeing on is that augmented reality and mixed reality applications will be on the frontier of these advances. These advances will appeal to people because they will be additive to real-world experiences.
Why Experts Think It Will Take Off vs. Why It Won’t
The portion of experts who think it will take off cited several reasons for it. For one, technological advancements drive profits through investments and vice versa. They also mentioned that it could see much more use in not just business sectors but also areas like fashion, art, sports, health, entertainment, and so on.
On the other side of the pond, we have those who say it won’t take off to this degree. They cite reasons like the lack of usefulness in daily life for the average person. They also shared concerns about issues such as privacy, surveillance capitalism, cyber bullying, and so on. It was also speculated that the technology to reach more people wouldn’t be ready by 2040.
No matter how you look at it, no one can say for certain how things will go. There may be legitimate concerns surrounding the emergence of the metaverse, but at the same time, there are plenty of benefits. At the end of the day, it is no substitute for meeting someone in person, but it does serve as a close second. Just like Zoom calls were the next stage following phone calls, meeting people in the metaverse and automation are the next steps in the evolutionary ladder of communication technology.
It all just becomes a matter of how well we balance it with the real world and the uses we put it to. When all is said and done, the metaverse is a space, but more so, it is a tool. It is a tool that has unexplored potential for all sectors and industries.