World Economic Forum: Metaverse to supercharge upcoming industrial revolution

The metaverse technology, that creates hyper-realistic virtual ecosystems, is grabbing the attention from the manufacturing sector in the US. 

This detail has been disclosed in a recent report published by the World Economic Forum (WEF).

The metaverse is poised to supercharge the upcoming phase of the industrial revolution, the report says.

Compatible with cryptocurrencies and NFTs, the metaverse technology can provide virtual destinations for people to visit as avatars – without having to step out from the comfort of their homes.

Last week, the WEF released its report titled ‘Navigating the Industrial Metaverse: A Blueprint for Future Innovations'. 

An estimated 92 percent manufacturing firms in the US are exploring ways to add a metaverse twist to their existing business operations, the report said.

The WEF surveyed 100 companies across ten industries to compile this report, findings of which indicate that the metaverse use cases will explode in the sectors of defence, aerospace, energy, software, and automotive in the times to come.

The WEF has predicted that the metaverse technology could finetune cross-industry collaboration. In addition, its report noted that the enterprising of metaverse will subsequently open new experiences for employees, fresh methods of working, and new generation of operations as more industry players adopt the technology.