How will businesses use the metaverse?
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- čas přidán 25. 04. 2024
- The metaverse could offer multi-trillion-dollar opportunities for businesses in the long term, with the potential to transform many aspects of daily life.
00:00 - How the metaverse could transform our daily lives
01:22 - How filmmakers are using metaverse technology
02:30 - What is the metaverse?
04:09 - An opportunity for creative industries
05:59 - How tech titans are profiting off the metaverse
06:53 - What is Roblox?
09:51 - Gen Z: metaverse natives
10:48 - How the metaverse could help climate change responses
12:15 - What is a digital twin?
14:33 - What’s missing from the metaverse?
16:26 - How mixed reality devices are transforming the military and health care
19:41 - What’s next?
Sign up to our science newsletter to keep up to date: econ.st/3Mn3IR3
Read more about virtual realities: econ.st/3SZXkBY
Listen to our podcast about how the metaverse is going mainstream: econ.st/3yz8qFR
What are the video-game industry’s metaverse ambitions? econ.st/3S3Kmlq
What are America’s largest technology firms investing in? econ.st/3EAT8UE
Building a metaverse with Chinese characteristics: econ.st/3CrhtK6
Virtual-property prices are going through the roof: econ.st/3fPTcFJ
Tomorrow’s soldiers will have their reality augmented: econ.st/3g1AdZ4
How can augmented reality help treat covid-19? econ.st/3EEXRVo
The race to digitally preserve Ukraine’s buildings and monuments: econ.st/3RTL4RR
The metaverse has literally nothing to do with that healthcare example. That’s a scanning technology. Many of the other examples are highly questionable too.
At least I don’t want to be operated by this machine
Same with the ILM example lol. Rear projection was first done in 1930
Most of the clips are examples of computational methods, not the implementation of the metaverse.
But that fits with the metaverse, no one really knows that it is
Yeah ... this video was some shoddy work. Ignore the nice sounding music and the quick editing. The journalism beneath the production was really shallow.
I've come to realize as an investor that instead of letting my money sit idle in my savings account it is more productive to invest the little available and build a portfolio from the accumulated profit of investment
GLAD I GOT INTO CRYPTO WHEN I DID BECAUSE IT'S BEEN A TURNING POINT FOR ME FINANCIALLY. BEEN MY BEST DECISION SO FAR
@Sophia Hughess My greatest happiness is the $34,000 bimonthly I get consistently with my $5,000 all thanks to Mrs Emily Cofield
Same here with my current profit of $59.000 made from my investment with Mrs Emily Cofield's trading platform I'm totally convinced she's the best trading broker I have worked with and her strategies are so easy to adapt she's such a blessing to me especially in this current dip
@William King Really are you giving her your funds or your coin to trade for you?
@William King That's really impressive, is there a way I could reachout to this trader?
Imagine a company paid lots of money to promote a failure. Welcome to the metaverse and the economist
loser with shortsighted vision, yeah, that's u, look at u in your mirror loser!
😂
image your parent wasted ton of money on you, and you have nothing to show. Welcome to the real world
🤣😂😂😂
They think ready player one will happen? I think they don't watch what people are doing online, I have two Samsung VR headsets, it's gathering dust.
Some metaverse examples and lots of cool non-metaverse tech mixed together to pump the hype on this subject. Very clever, Economist!
Cringe
Yes please, pump it please.
9:00 "real money"
This is all you need to know about the metaverse. They sell hallucinations, but charge real money.
The metaverse makes my blood boil. It is just another scheme for big companies to make more money.
Reminds me of another business model that also sells hallucinations and charges real money.
You just posted 'hallucination' comment just to let other people know your disagreement on this new tech.
My point is, I think you still don't know how digital things work. Just because it's digital doesn't mean it's useless.
VR, AR, mixed reality or metaverse things are just an upgraded tool /device so we can have a better senses in virtual world. And if you still think these are just hallucination things, try to put your phone and pc for a whole month.
@@arnaldofigueiredotibyrica6202 You mean bored apes? 🐵
@@handiputra
"you still don't know" Special pleading
My argument is that they charge *real* money for something "virtual"
If the metaverse were what they pretend, why keep the accounting in the "real" world? In "real" money?
The Economist should be the company that fully goes meta-verse mode
Bankrupt?
And plummet to its death lol
I love corporate marketing disguised as my news.
Yeah precisely.
I thought I am just negative 😂
😂🤣🤣🤣
Metaverse is using VR at the office and VR at home. In other words, 8 yrs of sitting at the office, 8 yrs sitting at home, and 8 yrs of sleeping. That's a recipe for bone degeneration.
it is actually easier to use VR while standing than laptops
@@lelouchlamperouge5910 obviously you havent use it. your arms and hands will be tired waving in the air without support. I'll be in 20 minutes of use and you'll hate it.
@@BS-my2ky i have played BeatSaber for hours in Expert+ and it is not a problem for me waving my hands in the air, but your comment make me realized that maybe everyone isn't at least a bit fit.
Doing things in VR requires your real body to do it. You will be drenched in sweat if you are not in OK shape.
Scary. As if the dark hole of social media wasn’t enough of a disaster. Now people will really be able to live in complete delusion!
at the same prices as real space ^^ free money with minimal resources spent! and look at a lot of us cheering it on lol
Suggestive of Revelation's warning about the Mark of the Beast.
0:04 a virtual world that mirrors our own: operate like the real world for everyone at the same time with infinite memory and history.
0:52 immersive experiences. augmented reality.
1:10 web transform our lives and 3D world will do much more.
2:00 an army of set design
2:10 toolkit
2:45 for companies and scientists working in this field, the metaverse is something far more significant.
3:02 for those operate big tech, this is a parallel plane of existence, a 3D virtual simulacra of the earth but with many fictional elements that allows us to do what is not possible.
4:40 in the film and television industry
If we call this infomercial, we would have given it more respect than it deserves
They even have the fake British accent bot that does Kia ads speaking seductively to us.
So really this had nothing to do with Meta, rather just the general direction of the digital economy for the next few years
When the Metaverse is executed in a way that is: Appealing/Aesthetical. Usable, fluidly accessible and convenient. _Then_ it will be a very big thing. Facebook's version is none of this.
That's what I've been saying. Especially the aesthetically appealing part.
That's pretty much why only children use it
Even if you make something this beautiful... what you are doing, is effectively creating alienation into the populice... And should that happen ? Basically, using such tech... or shall I rephrase it this way.... "Obsoleting the humanity's basic hierarchy and needs"... you are causing jealousies.. human indignities... and alienation... Unless, what is being stated here.. is to use technology to increase the buddhism nature of humanity... and elevate the "not doing anything".... stance to life. So are we going to become digital Buddhists ??? To be brainwashed by the digital world.. that we forget to feed, clothe.... and to do something for ourselves ???? ....
Was the metaverse coded by a 4 year old? The graphics are better on a Nintendo Wii!!
Id like to add to this, Metaversus World - Metaverse As A Service. With the ability to create immersive experiences, tap into a quickly growing market, and have the technical side handled, it's no wonder this technology is gaining so much attention. Can't wait to see what the future holds!
The topic is fascinating, issue is that most of the mainstream audience is perceiving metaverse as “ready player one”, without considering that the computing power required for something like that is (at the moment) quite utopian. It will be interesting to see how much time it will take for the technology to close the gap, especially with the new development in quantum computing.
The whole concept reminds me of the people on the space ship in WALL-E
I'm sceptical. I approve of Lockheed Martin's and the health care initiatives, those can help us now, but the other things I'm sceptical of. The firms have poured billions of money into it and what have they got to show for it? We have just seen the crypto bubble burst and with the difficulties of limited computer power, no legislation and limited or no connection between "worlds" I can see a bubble ahead of us: The Meta-bubble bursting.
DM 📈👆...
The internet had a bubble yet here we are .. the bubble can be (not always) the pouring of money into many companies and ideas from which some winners emerge .. like youtube for instances developed by a start up bought by google and again here we are.
It is funny how you wrote this on internet lol, don't you knew that internet was even more crazy bad them, with people investing just because there was a website.
@@lelouchlamperouge5910 Know it ? I am 60 I lived it and invested in it.. but I also live NOW and its a fact that the internet is used by almost ever company in the world and a FACT that many of the most successful and biggest companies in the world are internet companies .. that's the thing with FACTS they laugh at opinions.
They won't.
You expect businesses to buy multiple $300-$400 VR Headsets and controllers to give to employees to bring home for meetings? No, they won't. They will just use Zoom.
looks at your laptop, $300- $400, so ys, they will...
Are you from a poor country, some company give expensive smartphones already, why not a headset in 10 years???
The problem is that this is all overhyped. Someone needs to make a focused application. Digital twin stuff is neat but still to vague. They should probably keep focus on gaming. Collaboration is very iffy in reality. I think in corporate life the turning point will still be a financial application- like spreadsheets did to drive PC adoption
@Lind Morn making billions is near bankruptcy? You didn't do your own research right, just news in the media 🤦♂️
Yeah well except Accenture bought $60,000 of them so...
Come on the Metaverse is a big virtual bubble!
Imagine the virtual world where you can meet you colleagues, travel to foreign cities, or even get your pilot license. You probably heard of it, it's called the video game.
Guys, really, it's just a videogame + online connectivity + VR, there is nothing new here, it's a bull...t.
The best video I have watched in quite sometime!! Just brilliant stuff.
Important for us humans to not forget to live in peace and harmony! No amount of Metaverses can satisfy the human soul that longs to raise its level of consciousness and live in harmony with nature and our creator!
It is very appealing & I'm sure for some it is & will be "virtually" addicting.
Our imaginations & dreams are a gift & a curse.
I hope our species can emotionally evolve to knowingly separate the physical & virtual realities.
We need this maturing to evolve with the technologies. We need maturity and the science to advance our species enough get out there into the limitless possibilities yet, understand all the realities of existence, remaining sane as well as still in control of our compassion and empathy with truly living things.
Great video and very educative. With these real life uses, the Metaverse is the next big Tech revolution worth keeping an eye on. It's in to change the way we see and do things ranging from gaming, movies, engineering, socializing, fitness etc. With projects like StepApp, XANA, Decentraland, Nvidia etc already in the system means Metaverse is here to stay.
This aged poorly...
Reminds me of Phil of the future. How in one episode he was able to go to the mall and in the other it showed a flashback as to how school in 2121 was simply putting on headset like those we have today and ur in class. I don't mind tech if it helps the employee and does positive on the community such as in health. But I'm skeptical as to the damages it can bring in the future.
The title of this video makes it seem as if it’s a meta PR video trying to make a case for its technology rather than a video about the potential benefits of AR/VR of their own accord.
Turns out the next best thing in business is not the Imaginary Metaverse but Artificial Intelligence
The metaverse has the potential to revolutionize the way we do business, including the ability to create immersive online experiences, host virtual events, and even conduct business meetings in a virtual environment. The possibilities are endless, and it will be interesting to see how businesses use the metaverse in the coming years.
Those possibilities are not so profound, nor endless. All of the examples you’ve mentioned are already readily available.
Is this a paid comment or something? Literally everything you've said is already a thing and has been for a long, long time.
Amazing. First video I saw on the Metaverse. The space age 'The Jetsons- are here.
Proudly sponsored by Meta.... well, cause it's in dire need of some faith :D
DM 📈👆...
I don't know where we are going with this all technology.. live with nature and physical activities
Go green 💚 Save water 🌊
The economist using Roblox to segue into a discussion about how climate change can be solved by the meta verse is like making the case for flying cars to solve traffic because remote control toy helicopters are a billion dollar industry
You are putting a bunch of stuff related to graphical computing together and you are calling it the metaverse. Most of it is online videogames, which have existed for decades now. The rest is nice 3D rendering, which has existed for decades. The advantage of internet is to exchange information very fast, the advantage of the metaverse is to do it in.. 3D?
According to this, all graphical computing is now called the metaverse. A gift to humanity.
Guess this is the future of tech...ha
Hooray for ill-defined words!! This is like ‘internet of things’ all over again
I know right? Clearly FB are paying for this nonsense anyway I'm unsubscribed now.
Until I can only read The Economist on Zuck's Metaverse, I'll still believe that the Metaverse is better preached than practiced. Just a bit annoyed that my ad-blocker didn't spot this clip.
Very foolish comment. Metaverse does not have to be made by Facebook/ Meta. Are you going to ignore all the practical uses of AR/VR and 3D computer simulations?
Metaverse of Madness
Metaverse seems like a word transformation from VR and AR which makes the technology sound fancier 😂
Since the market needs stimulus, so the new version of the word has come out. But it truly is one of the applications in the future. Thanks for featuring this and make us get a close up of the technology:)
How is ILM doing metaverses? Back projection techniques are not new, it has been done since 1930 or so - they are just doing it better now, with modern tools.
The corporate metaverse vision is being pushed from the top down, while the internet grew from the bottom up. Seems like a recipe for failure.
We already have VRChat, Roblox, Minecraft, etc. Nobody wants to do Excel sheets in VR and board meetings with avatars.
Let tech evolve based on fun and actual user needs. Don’t worry, there will be plenty of opportunities for big corporations to monetize and ruin the tech later.
There are people that actually work or do productive things. For example 3D design will be modeled in VR in 10 years, nobody will use a drawing tablet anymore, mark my words.
How exactly do you know this? VR sculpting for 3d artists has been around at least since 2016 with the release of tilt brush. Aside from it beeing andoubtebly cool, the impact it has had on the industry is almost non existant.
@@andz7292 those are just basic apps, it could never substitute enterprise software, would you change from Photoshop to Paint, no way. We are talking about software like Maya, 3D Max, Blender, ZBrush and so on, not painting apps for kids. These big software already offer a basic support for VR, but still nothing useful, hopefully in 10 years it will change.
matrix wasn't just a film, it was a warning...
DM 📈👆.
It would have been a warning about robots then, not VR. Did you even watch the movie?
Now the Department of Defense can watch drone strikes to civilians in high definition 🤣🤣🤣
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Do what everybody else is doing if you are okay with only having what everybody else has.Information that will pay you everyday, you've got to stop saving all your money.
Venture into investing some, if you really want financial stability.
Choose to grow and elevate your mind by studying audios, videos, attending conferences that will give you the edge!
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Lately I’ve been thinking of buying cryptocurrency for retirement, I’ve set asides $350k to invest but along the line,I usually get cold feet, maybe because I have no idea what I’m doing,
@@martinheusel9417 Daniel Christopher Downes can be found online through his name as he’s a financial analyst and trading expert who has shelled out theories and idea for years.
Daniel Christopher Downes is a certified expert trader, I have worked with him for months, anyone who he manages his or her account is lucky indeed.
One day, we will be able to interact globally. Waiting for that days...
I'm unconvinced Matthew Ball is a real person from this
Businesses and brands can make the most out of the metaverses. Especially with Metaversus World. It's the perfect platform for brands to onboard into the metaverse, offering products and solutions that make the process easier and more reliable. With the Metaversus World platform, brands can create immersive experiences for their consumers, and even sell NFTs in a fully automated process. This is the perfect way to enter the metaverse and compete in today’s market
Microsoft didn't buy Activision Blizzard for meta purposes. C'mon, that's really lame statement. Was never expected such an openly promotional material from Economist.
DM 📈👆...
I used to dismiss the metaverse as hype, now I am excited by its potential. It be will a decade or more to materialise in low income countries. Unless internet and gadgets become really cheap. I want to use it for education and training.
When a business like Meta says they're building THE metaverse, it's like saying they are building THE website or THE game. To me, it doesn't make any sense. "Metaverse" is just the latest buzzword (reminiscent of the old buzzword "cyberspace") for a "shared 3D environment", which have been around for decades and no single company will have a monopoly on them. Rather, some of these 3D spaces might eventually link together (through 3D "doors" or "portals" or what-have-you) in the same way that websites can choose to link together today. But new buzzwords like the "metaverse" are useful for some things: primarily hyping up a company and attracting venture capital. 😏
Mark Zuckerberg has his own grand Hawiaan island home already and wants the public to have the same fabulously experience---but in VR.
Mark Zuckerberg is not doing it for the money he already has a whole vault
@@NM14825 , you don't understand sarcasm?
@@leisurecomments8176 If you figured that out then there’s no need to ask
The tech we don't need now ?
the tech we dont need ever. they invented the solution first and trying to find the problem its going to solve.
@@straightdrive6192 : And bearing in mind that, these are "investments"... already... and may never commercialise. Which is no different to a country spending their own money,internally... and repay that back to the banks and never reuse it really. with global trade the way it is. Just as well that might just be so the case. And lockdown and restriction of travel means that, no more... Fake money, or fake investments.. or stolen investments.. or stolen money etc etc etc. So... maybe this exists in life for a reason.
I was half hoping they would show bigger toilet paper rolls are a result of metaverse as well.
Wow, thank you for making vdo explanation.
Haven't seen a single 3d movie yet and now im expected to spend time in Zuckerberg's wife fantasy world
Thanks to Metavers I now own 3 properties and I am collecting rent on metaverse for advertisement on my virtual property.
I own three planets in the metacon..... one is pure gold.....I am a Zillionaire ....I can show you ...we can go there in my go cart and eat ice cream when we arrive...I am going to be richer than fort knox after I bring back the gold to earth on my own space shuttle i learned to fly on the metacon space shuttle flight program
“Many people think that Roblox is a game company. We are not.”
Excuse me. WHAT
The idea of the metaverse comes from dystopian fiction. The part that all these metaverse companies (the ones that are serious about it and not just NFT/crypto scams) conveniently forget the dystopian part. The only reason for why a metaverse actually works in works of fiction such as Ready Player One is that the real world is so extremely depressing and awful that the metaverse functions as an escape for billions of people. The real world doesn't even get close the level of dystopia required for the metaverse to become a reality.
Let's take a few examples... Anything you can do in the metaverse you can do better in real life, so there's no realistic reason for people to adopt it. Take income, for example. It's way easier for way more people to make way more money in the real world. There's no job market or economy large and efficient enough in the metaverse for this to be a valid option for the masses. The metaverse also can't provide the two most basic things humans need to function: food and sleep. Entertainment is also easier and simpler in the real world. Put on a headset just to log into a world just to watch a movie, listen to music or play a game? Honestly, what's the point?
And when it comes to companies, why would they choose the metaverse? Going to work in the metaverse is inconvenient to say the least. Not only do you need to spend $1000+ on a VR headset, but you need to boot it up, then log into your account, then log into the world in question, then go the the fictional office building in this fictional world and then go to the fictional conference room in this fictional building just to have a simple meeting. Where's the logic in all this? Your metaverse conference meetings are never going to be more efficient than simply joining a Zoom, Skype or facetime call here in the real world.
The metaverse doesn't actually solve any real-world problems, plain and simple. There's nothing it can offer that isn't already better or more efficient in the real world.
Very interesting vid. Thanks for sharing. Very interesting to learn some new things.
I also feel that the metaverse will be the beginning to the end of in person working. Everything will be remote. Doctors can already do surgery from outside the surgery room. Imagine through a metaverse.
Yeah, and the patient will jump into the metaverse, get the gall bladder removed then jump off the metaverse. Haha
Very informative and helpful. Please come up with more videos like these.
So bank robbers can use Digital Twin to scout a bank
and simulate various strategies of robbing it beforehand, makes sense.
odd take
😂 this metavese is just lame 90s graphics.
"they won't"
Nice! I really enjoy!
They tried that with Secondlife all ready.
Nice information
This is the best thing since the invention of rain water.
Especially if you want to buy something in metaverse it gets to production and delivered.
@4:30 anybody know the background song name?
I think metaverse will gain more traction if it can make the graphics more anime-like as on option. It should gain more hypes from the anime community which is a very large user base
Not hard to imagine virtual worlds since online games have been around for DECADES not to mention the virtual platform that was Second Life. Acting like the “metaverse” is something amazing just shows you have been asleep for twenty years.
DM 📈👆..
This will probably take some time before it really becomes ubiquitous in our lives but it's a start. Definitely a huge investment of resources coming from Meta. I think it'll pay off for them in the long run.
visionary, someone has to step up in order to make the first change
why do i feel like this is sponsored
How about we start investing in our physical world??
Thank you.
Life is just to love and to be Loved 💞 Love alone can Conquer the World 🌎
Breaking news: Starbucks will move all its outlet into metaverse
Also breaking news: Iran and Afghanistan lodged complain to the Meta Security Council regarding respawning of amputated limbs
The panic in the crypto market is nothing new in the crypto world we have been through all this this before now and we passed through them especially we that has made a lot out of cryptocurrency i still remain thankful to Mrs Lisa Bruin who really used her expertise to help me in this crucial time.
Indeed crypto is the best investment, Earning3x my salary soon I won't have to work anymore..women should start taking part in these kinds of digital investment
Wow I'm just shocked some one mentioned expert Mrs Lisa Bruin's name i thought I'm the only one trading with her
Wow!! Impressive you trade with Mrs Lisa Bruin too! I thought people don't know her that well.... She's really awesome!
How can get in contact with her? And amount needed for a nice start up? Am interested to invest please.
You can communicate with her on telgam, with the username below.
The last line nails it for me.
What it looks like is still unknown, but there is no doubt that Web3.0 is “A societal change. A multi-trillion-dollar economic opportunity that will transform nearly every country, industry and person’s life globally.”
Meta should have some games like treasure hunt for real money like 1 million dollars or build in business so will attract people to go there to make money!
With Metaverse, everybody can be a poser now. You can be an attractive person, own luxury things, all in virtual, while sitting in a dark room getting fat with your greasy fingers. I approve 👍
Without having children people will die out.
Klaus Schwab: You will own nothing and be happy...
It's few years already on music industry... 😊😊😊 we at public just heard about it but few person know it already
Latest definition of life is whats leftover after Facebook and WhatsApp. Metaverse will swallow the remaining. Too much of anything will do harm is an old saying...too much technology will ruin everything.
DM 📈👆.
Technology pessimism…..
we can't go back...once businesses start to use it there is no way we can go back. sorry but start using and embracing it and if you use it in moderation and by which you can get benefits.
btw I am also concerned about it, people will call it pessimism but I know with this technological development, if not used properly it will be a disaster for everyone on this planet.
go back to ancient bye
This will go away if we ignore it.
not possible when businesses push you to use it or you won't earn enough.
@@bhaveshartsy7805 what business?
@@Roger-is9os every business where there is innovation.
They placed metaverse inside a casket and everyone is paying their last respect. If you see people crying, they are the ones who lost 19 billion dollars to metaverse.
I'm surprised star citizen wasn't shown. 😅
Kinda ironic they made regular interview instead methaverse meeting.
Making a movie is not an example of the metaverse.
It's still b2b most of time.
What is for end user experience when uses this tech for the real world experience.
Metaverse need currency protocol which might give stability and unique as real world currency for only digital currency.
Not for central government backed currency.
Banking industry application
Public administration application
Educational Aplication
End to End user aplication ( not just chatting with vr )
Hardwear Industry.
This something should be included.
The majority of people I know lost hope, people I know who never invested stopped talking about stocks, got out and lost money. I believe we are near the bottom.
If that's the case then we are way higher than the bottom.
As always most people will lose money, a minority will earn a lot money. It is like capitalism works.
Time to invest then
Earth 2? Sounds like something right out of Douglas Adams!
I don’t really believe people really want the meta verse
most people seem to share that opinion... at best.. it's probably useful in very niche domains...
Most people under 35 do.
@@samsmith3464 Not really..if that were true..the market would probably have given a big thumbs up to Meta Platforms' investments in the domain..
@@samsmith3464 is that not what tic toc, social vr, and videos games better than meta are for?
@@samsmith3464 im 33 and i do not
I support this. Because I own meta shares 😂
Metaverse is a place where economists can do mistakes and erased it.
Nice video
What if the matrix movie was a documentary and not sci-fi? They want you to choose V.R. over your reality. That's what it essentially boils down to, isn't it? 🎭🕶
You are on youtube, not in reality. This isn't real. VR lets people actually interact socially in a virtual space, while this is just typing. People have said every new tech will end society..
The number of The Beast is 666.
The metaverse is far more interesting than reality. It is not merely a mirror reflecting reality, it is open up another dimension. People will gain freedom and data privacy in the metaverse. People will regain control of their life. It is not a centralized world anymore. It is a decentralised, self-empowered free world.
The whole “digital twin” thing. They make it sound like a real life copy, digitally. But is it really? Does the object deform when impacted by a force?
If the meta verse features a digital mouse, well why didn’t you mention that earlier?! 10:50
I don’t believe they get that the Metaverse is collapsing. Maybe it can be saved, but competition is coming and that could put a steak in its heart.
All I can see is Terminator.
Kidding 😉
I was meeting friends in a virtual world in 1997 on my PC playing Counterstrike and Quake over a 56k modem. This isn't really anything new. What's actually more telling, is that in the last 25 years companies haven't adopted any of that capability for day to day usage. Maybe Zuckerberg calling it Meta and sticking a VR headset on it will change that.