The Davos Forum is back after a two-year hiatus imposed by the pandemic.
Political leaders, business leaders and NGOs are all in Davos, Switzerland to discuss the most pressing issues of our time. This year’s theme – “History at a turning point”.
The 5-day event is a little different this year. The guest list is shorter and the timing and weather are all different. Instead of the usual January snow and crisp air, the World Economic Forum (WEF) has included umbrellas in its welcome packs.
At this year’s Davos, there’s a lot of excitement for the Metaverse – which we believe is the next computing platform.
The fundamental story of technology in our lives is that it has given us the power to express ourselves and experience others with ever greater richness.
When Facebook started, that mostly meant text that we typed on computers. Then we had phones with cameras and the internet became much more visual. Recently connections have gotten faster and video has become the primary way we experience content. We’ve moved from desktop to web to phones. From text to photos to videos.
But that’s not the end of the line. The next platform and medium will be even more immersive – an embodied Internet where you are IN the experience, not just looking at it.
A future built by all, for all, where your imagination counts more than the circumstances of your birth. Where you can represent yourself as you wish. A future in which everyone will be an actor.
A future where individuals and businesses can build, own, invest, sell and be rewarded for a wide and diverse range of creative output.
We call this the metaverse. And you’ll be able to do almost anything you can imagine – get together with friends and family, work, learn, play, shop, create – plus whole new categories that don’t really fit the way we think about computers or on the phones. today.
It’s not about making time to be together in person. It’s about making the time we spend online richer and more meaningful.
At Davos this year, we discuss the metaverse and why we think it’s going to be so important:
- We’re talking about the fact that building the metaverse is going to be a collaborative project and no one company can or should own the metaverse.
- We are also starting discussions on the metaverse now so that the right protections are built into the foundation. We announced in Davos this week that we will participate in a new initiative of the World Economic Forum, “Define and build the metaverse‘, which will bring together key stakeholders to build an economically viable, interoperable, safe and inclusive metaverse.
- We also recognize that there is still a long way to go before the Metaverse becomes a reality. A lot of hardware still needs to be built, infrastructure needs to be transformed, and most importantly, global access to hardware and reliable internet needs to be improved.
- While companies like ours can help build the metaverse, we know it will be the creators and entrepreneurs who truly define its potential. Through Immersive Meta LearningMeta is investing $150 million to help develop and empower the next generation of creators, launch high-quality, immersive experiences that transform the way we learn, and increase access to learning through technology.
- The economic opportunity of the metaverse is huge. This is something I spoke to our customers and partners about in Davos. Our hope is that within a decade, the metaverse will reach one billion people, house hundreds of billions of dollars in digital commerce, and support jobs for millions of creators and developers. According to a new article by Analysis Group and funded by Meta, the Metaverse has the potential to add approximately $3 trillion to the global economy in a decade if adoption and growth is similar to mobile technology. Europe’s estimate is a 1.7% contribution to regional GDP, or $440 billion, in 2031.
- Chris Cox, Chief Product Officer of Meta, took at the stage in Davos to talk more about the creation of the metaverse. Nick Clegg, president of global affairs at Meta, also posted a recent test describing what the metaverse is, how it will be built, and why it matters.
Davos has long been the place where key conversations about the future take place.
We are proud to talk about the Metaverse because its impact will be felt by all of us and the work being done now will continue to define a generation.