European Commission Aspires To Be The World Leader In Web 4.0 And Metaverse

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European Commission

EU has outlaid its strategies to achieve the position of World Leadership in Web 4.0 and Metaverse. The technology of “extended reality”, which enables individuals to connect to the virtual world of opportunities, has been predicted by the European Commission to generate up to 860,000 employment opportunities in Europe by 2025. “Extended reality”, commonly known as XR, is a generic term for multimedia technologies such as virtual reality, expanded reality, and mixed reality. On July 11, the EU Commission states that XR is reinforcing the technologies in the virtual world. 

European Commission Implemented VR And Advanced Technologies To Support It

It proclaims that the progress in employment, as a result of the implementation of XR, would be apparent gradually. About 1.2 million to 2.4 million job opportunities would be created in multiple sectors. However, the EU commissioner mentions that Europe lacks the technological investment to provide the funding for the expansion of the virtual world in the next ten years. He also states that in contrast to Europe; Us, China, and South Korea use more innovative technologies. However, it, in turn, helps Europe to expand its virtual reality market to other industries like healthcare, production, and defense. 

The European Commission claims that European virtual worlds strengthened by the XR technology will lead successive generations to bring together physical and virtual objects and make their engagement in virtual environment real-time. 

Web 4.0 is the starting point of the shift happening in the technical world. It can drastically revolutionize people’s lives and open up a variety of opportunities in commercial sectors. Some instances include utilizing “digital twins” to maintain historically significant structures, using VR to teach surgeons intricate medical operations, or even using 3D models to combat global warming. 

A set of ten actions has been proposed by European Commission to achieve this target; among them, talent acquisition to lead the VR, creating sandboxes to verify the new ideas, and improving technological standards are most noteworthy. Thierry Breton, EU commissioner for Internal Market states that Europe has the spirit to drive the next technology revolution with cutting-edge start-ups, creativity, and innovative models to bring about a technology-friendly reality.