It seems the metaverse is taking a backseat as tech giants like Meta shift their focus to AI. Despite claims that the former remains a priority, Meta’s move reflects growing interest in AI’s potential. In addition, investors and users are flocking to AI applications, such as OpenAI’s ChatGPT, which reached a record 100 million active users in January. So, can AI save the metaverse?
TL;DR
- Fashion industry embraces AI, while metaverse fashion struggles.
- China is shifting focus from metaverse to AI, impacting metaverse enterprises.
- Metaverse offers a platform for creative self-expression without AI, which offers exciting opportunities.
AI leads the way: $1.5 trillion market growth expected
The AI market is expected to grow with an impressive rate of 37.3% per year from 2023 to 2030. With that, it reached a staggering value of more than $1.5 trillion. Essentially, this rise in AI’s popularity has eclipsed the metaverse, despite significant investment in the virtual world over the past five years.
The fashion industry in particular has shown a strong affinity for AI. AI-powered fashion design accounts have exploded in popularity by creating hyper-realistic digital fashion pieces. Metaverse fashion, on the other hand, is struggling to gain mainstream appeal. Currently, only a few breakout players like Roblox successfully attract attention. On the other hand, one of the biggest challenges for metaverse mode is its early stage of development, which makes it inaccessible and inconvenient for users. As a result, brands like Vaquera, Levi’s and Casablanca are turning to AI.
Moreover, China, once a stronghold of the metaverse, is also shifting its focus. This shift has led to closures of metaverse ventures in China, particularly in digital fashion and collection platforms. With AI rapidly gaining popularity, the metaverse market is at a crossroads.
Powering the Future: The Dynamic Duo of AI and the Metaverse
So, can AI and the metaverse coexist and even benefit from each other? Significantly, while AI possesses unparalleled creativity, the metaverse offers security and trust through blockchain technology. Combining the two can open up a world of exciting possibilities. In addition, the integration of AI and the metaverse could enhance user empowerment and foster an environment of collaboration and innovation.
A recent example of this is Apple. The tech giant has been dropping hints about incorporating generative AI into its Vision Pro headset. This exciting development shows how companies can invest in both tools to improve their applications.
Plus, there’s still a place for the metaverse in modern web culture. It provides a platform for users to express themselves creatively, something that AI lacks. The metaverse’s user-generated content contributes to its continued relevance and vibrant nature in web culture.
As AI continues to change the world, it may also make the metaverse more important. When they work together, exciting opportunities arise, empowering users and making the virtual world accessible to all.
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