| NOTAS: | "The metaverse may create a significant economic opportunity for the European Union (EU) and support its objectives of sustainable economic transformation. The wide range of potential applications for the metaverse can benefit the EU’s diverse member states, with use cases already being explored in key industries such as services, manufacturing and agriculture. Although its exact shape and form are not yet known, the metaverse—understood as a set of interconnected digital spaces and immersive, three-dimensional experiences—promises to be the next evolution of the internet. The defining quality of the metaverse for people who use it will be a feeling of presence achieved through the convergence of several technologies, including virtual and augmented reality (VR and AR), blockchain and artificial intelligence (AI). The metaverse and its component technologies are already spurring investment and innovation across the EU. Business adoption of VR and AR is higher in the EU (10%) than in the US (9%) and is highest in Belgium, the Czech Republic and Finland. Metaverse applications are already being built across member states, creating value in a diverse range of sectors. For example, large EU retail brands, such as Gucci and Adidas, are exploring how they can connect with consumers via the metaverse. EU farmers are trialling how metaverse technology can improve efficiency. With respect to workplace training, businesses can train employees up to 4 times faster in the metaverse than through other methods." |
