A.I and the $3 trillion industry that will be in the Metarverse by 2030 (per a McKinsey report)
The metaverse is a term that describes a shared virtual reality where people can interact, create, and consume digital content. It is often seen as the next frontier of the internet, where immersive and social experiences will redefine how we work, play, and communicate.
One of the key drivers of the metaverse is artificial intelligence (A.I), which enables the creation and management of complex and dynamic virtual worlds. A.I can also enhance the user experience by providing personalized recommendations, natural language processing, computer vision, and more.
According to a recent report by McKinsey, the metaverse could generate up to $3 trillion in annual economic value by 2030, accounting for 6% of global GDP. The report identifies four main sources of value:
Content creation and consumption: The metaverse will enable new forms of digital media and entertainment, such as interactive games, live events, virtual concerts, and social media. Users will be able to create and monetize their own content, as well as access a vast library of existing content.
Commerce and advertising: The metaverse will offer new opportunities for online shopping and marketing, such as virtual showrooms, product demonstrations, and immersive ads. Users will be able to buy and sell digital goods and services, as well as physical products that can be delivered in the real world.
Productivity and collaboration: The metaverse will enable new ways of working and learning, such as remote meetings, virtual classrooms, and online training. Users will be able to collaborate across distances and time zones, as well as access specialized tools and resources.
Infrastructure and platforms: The metaverse will require a robust and scalable infrastructure that can support high-quality graphics, audio, and interactivity. This includes cloud computing, edge computing, 5G networks, blockchain, and more. The report also highlights the role of platforms that can provide access to the metaverse, such as social networks, gaming consoles, VR headsets, and smartphones.
The report also outlines some of the challenges and risks that the metaverse poses, such as privacy, security, regulation, ethics, and social impact. It suggests that stakeholders from different sectors and regions should collaborate to ensure that the metaverse is inclusive, sustainable, and beneficial for all.
The metaverse is not a distant future, but a present reality that is evolving rapidly. A.I is one of the key technologies that will shape its development and growth. As the report concludes: "The metaverse is coming. Are you ready?"