World Economic Forum brings companies together to build an ethical virtual world

Mark Zuckerberg’s avatar in Meta’s virtual world after the company changed its name last October

World Economic Forum An initiative launched this week in Davos, Switzerland, aims to metaverseand using Immersive Technology related to the concept.According to the entity, the initiative “Defining and Building the Metaverse”which provides guidance on how to “create ethical and inclusive virtual worlds” involving organizations in the public and private sectors, including business, civil society, academia and regulators.

The launch document proves that an industry that has the potential to exceed $800 billion by 2024 deserves caution and attention. “At this early stage, virtual worlds can evolve in many ways, depending on research, innovation, investment and policy. The new initiative brings together more than 60 leading companies in technology and other fields, as well as experts, academics and civil society, to Accelerate the development of governance structures and policies for virtual worlds and enhance opportunities to create economic and social value,” the letter said.

Read more: More than 25% of the population will spend 1 hour in a virtual world by 2026

“The Defining and Building Metaverse initiative provides the industry with the necessary toolkit to build Metaverse ethically and responsibly. This will help ensure we can make the most of this in an inclusive, ethical and transformative way. an important medium of social and economic interconnection,” said Jeremy Jurgens, managing director of the World Economic Forum.

The forum also stated that the initiative will focus on two key areas: The first area of ​​focus is the governance of Metaverse, which is how to develop Metaverse technologies and environments in a secure, interoperable and inclusive manner. The second will focus on value creation and identify the incentives and risks that companies, individuals and societies will encounter as the Metaverse moves forward. The initiative will also describe how to impact value chains, transform industries, create new assets and protect rights.

company promises

“The Metaverse is in the early stages of its development. Done well, it can be a positive force for inclusion and equity, bridging some of the divides that exist in physical and digital spaces today. That’s why this initiative is so valuable. It shouldn’t Shaped by the tech companies themselves. It needs to be developed openly in a spirit of collaboration between the private sector, policymakers, civil society, academia, and those who will use these technologies. Nick Clegg, president of global affairs at Meta, said: “This work must It is in the best interests of humanity and society, not the interests of tech companies. “

“While the Metaverse is in its early stages, we believe it has the potential to provide enhanced connectivity for everyone,” said Brad Smith, Microsoft President and Vice President. “As an industry, we all have a responsibility to ensure that this new paradigm is developed in a way that makes sense for everyone.” Applicable to all, putting people’s needs first, enhancing the connection between people, and building securely with trust embodied in design. It is for this reason that we are proud to be part of this project that will set the virtual world A standard-setting cross-departmental collaboration agency.”

Read more: Metaverse-related industries should add R$4 trillion by 2024

“As part of the Sony Group, our goal is to be closer to people, and Sony Interactive Entertainment’s mission to approach the virtual world is to further imagine the ‘best place to play’. We envision a virtual world that will appeal to our fans, creators worldwide , and bring these two large communities together in bold new ways. Now, with the growing expectations of the user community participating in the Metaverse, governance is a key and shared responsibility of all involved. An accessible, secure and Inclusive virtual worlds will require new democratized mindsets and strong commitment from all involved,” said Stephanie Burns, Senior Vice President and General Counsel, Sony Interactive Entertainment. The project still has companies like Magic Leap, LEGO, Walmart, Animoca Brands and others involved.

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