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How can AI boost the metaverse?

Addepto — Thu, 17 Feb 2022 10:23:47 +0000

According to Google statistics, in 2021 the word "metaverse" was searched 100 times more often than at any other time. Microsoft, Meta, Roblox, Epic Games, Nvidia, Apple - most corporations are involved in discussions about what a metaverse is.

The metaverse is driven by diverse forms of technology such as artificial intelligence, cloud infrastructure, software tools and others. It combines various high-tech solutions to create an online reality more advanced than any known before.

In this article, we will discuss what a metaverse is, what business opportunities it offers, and how AI can improve the virtual universe. Companies around the world are already using AI consulting services to improve their business. Let's find out how artificial intelligence will soon affect us all. Read on!

What is the metaverse?

Over the past few years, the term "metaverse" has become a hot topic of discussion — it is mentioned in the games Fortnite, Roblox, Minecraft, Animal Crossing, as well as AR and VR technologies.

For example, in 2021, the CEOs of Microsoft, Epic Games and Facebook simultaneously started talking about the development and creation of their metaverse. Each corporation has its own vision of the virtual universe of the future. But what exactly is a metaverse?

The term "metaverse" was invented by science fiction writer Neil Stevenson in 1992 in the novel "Avalanche" ("Snow Crash"). According to Stevenson, the metaverse is the next stage in the development of the Internet. It's a common digital world combining "physical", augmented and virtual reality.

The metaverse features

To help you better understand what a metaverse is, below you can find some key characteristics defining the virtual universe.

According to venture capitalist Matthew Ball and a modern ideologue of the metaverse, there are 7 features of the metaverse:

Infinite existence. It never resets, pauses and ends.
It works in real-time and does not depend on external factors, although developers can create and plan events in the metaverse.
There are no limitations on the size of the audience and the number of active users. Each user is provided with an individual sense of “presence”.
A fully functioning economy. Users and companies can be rewarded (analogous to money) for "work" that brings "value" recognized by others, spend it and invest.
The physical and digital worlds, open and closed platforms, private and public networks are all part of the metaverse.
The compatibility of data, objects, assets, and content transferred between digital worlds is necessary.
Metaverses should be filled with "content and experiences" created by its own users.

Does the metaverse already exist?

Many people are sure that the metaverse is the future. Well-known corporations are in a race to create their best virtual universe.

Decentraland

At the moment, there is already a Decentraland platform – a "decentralized virtual world" running on Ethereum. This is a virtual metaverse where users will be able to buy and sell digital real estate, explore the world, interact with each other and play games.

Microsoft

The American software giant Microsoft has taken the first step towards creating its own metaverse and decided to start by changing the traditional office life. In the first half of 2022, virtual spaces and 3D avatars for communication, data exchange and work will appear in its Teams video conferencing service.

Epic Games: Fortnite

The American game studio Epic Games calls its online game Fortnite the basis for the metaverse. According to Epicgames.com, in April, the company raised $1 billion in investments for the long-term development of the metaverse.

Fortnite is rapidly becoming a platform due to which brands express themselves and implement their projects.

Epic Games arranges time-limited events inside Fortnite, tied to releases in the real world. The game map is transformed into a virtual world that changes the style and in-game objects in partnership with brands: DC, Nike, Lionsgate, Marvel, Microsoft, Sony, and others.

Moreover, in April 2020, rapper Travis Scott held a concert at Fortnite. It was watched by more than 12 million players. Also, a whole sub-economy has emerged in Fortnite, where "players" can create (and monetize) their content.

According to creative director Donald Mustard, Fortnite is not a metaverse. But today there is nothing closer to the Metaverse in spirit than Fortnite.

Business opportunities in the metaverse

As mentioned earlier, the metaverse is a space not only for communication and meetings with friends, but also for the development of brands and their projects. The combination of AR technologies, AI, Internet of Things or iOS, AR cloud, spatial technologies open up great opportunities for business development:

👉 Direct sales within metaverses (Direct-to-Avatar, D2A).
👉 Direct sales to reality (Direct-to-Consumer, D2C).
👉 Presentation of brands inside virtual worlds.

According to Pcgamesn.com, Louis Vuitton has developed skins for League of Legends.
Dimensionstudio.co reported that Balenciaga has created a video game "Afterworld" to present the Fall 2021 collection.

👉 Purchase of digital art, assets and collectibles as NFT.
👉 User interaction as digital avatars for customer service, employee adaptation, sales, service, and other business communications.

👉 Buying digital real estate and developing virtual homes.
👉 New tools in the field of education (virtual campuses could change the educational processes).

All of these business opportunities in the metaverse can make the most of decentralization, interoperability, collaboration, permanent environment and experience created by users.

AI in the metaverse - potential applications

So, we already have a better understanding of what a metaverse is. Now, let's take a look at what role AI plays in the metaverse and how will this technology affect the creation of a virtual world?

Avatar creation

Avatars are the main component of the metaverse, which allows users to fully feel their presence in the virtual world. One of the potentials of AI in the metaverse is the ability to analyze 2D images of users or 3D scans to create very realistic and accurate avatars.

AI-powered avatars not only have a humanoid appearance, they can also communicate with people using natural language processing (NLP) algorithms.

In 2021, NVIDIA announced NVIDIA Omniverse Avatar, a technology platform for generating interactive AI avatars. Omniverse Avatar combines the company's technologies in the field of artificial intelligence of speech, computer vision, natural language understanding, recommendation systems and modeling technologies. Avatars developed on the platform are interactive characters with three-dimensional graphics who can see, speak, talk on a variety of topics as well as understand naturally pronounced intentions.

Intuitive interface

One of the keys to the potential success of the Metaverse is the promise of a very exciting experience. Therefore, another example of AI in the metaverse is assisting in human-computer interaction. In virtual reality, AI can assist in recreating the true experience of touch.

When you put on a high-tech VR headset with artificial intelligence support, its sensors will be able to detect and predict your electrical and muscular patterns to move inside the metaverse exactly how you want.

AI-powered networking

How can AI improve social networking in the metaverse? So, here are some ways:

👉 Prevention of abuse and hate speech.
👉 Content relevance calculation to minority groups (e.g. language, geography, etc.).
👉 Selection of features to avoid bias.

As the concept of the metaverse develops, companies will implement AI to create a scalable metaverse. Therefore, companies like Meta сollaborate closely with think tanks and ethics groups to reduce the risks associated with artificial intelligence without limiting the potential of AI in the metaverse.

Want to start your metaverse journey?

The metaverse will continue to be a hot topic among entrepreneurs, investors and many others. With its development, new business models will be developed that will bring companies to a new technological level. With the help of AI, augmented and virtual reality (AR/VR), and blockchain, you will be able to create scalable and accurate virtual worlds.

5 reasons for AI implementation in healthcare

Addepto — Thu, 30 Sep 2021 10:20:51 +0000

Today, AI technology can be found in almost every industry and business, including healthcare. Artificial intelligence in healthcare has huge and wide potential, from solutions for mobile diagnostics to drug discovery that can be achieved using machine learning.

💡The global artificial intelligence in healthcare market size is expected to reach USD 120.2 billion by 2028 and is expected to expand at a CAGR of 41.8% over the forecast period, according to a new report by Grand View Research, Inc.

If you've been thinking about implementing AI to your business, keep reading to find out 5 reasons for adopting AI in the healthcare industry. In addition, you can find predictions for the future that will help you be convinced of the potential of AI consulting in healthcare.

5 reasons for AI implementation in healthcare

In this article, you can find 5 reasons to implement AI in the healthcare industry. These solutions help doctors work more productively, improve processes and clinical outcomes. These are also 5 reasons that indicate that AI technology in healthcare is gaining popularity and is a potential source of major investments.

1.Robot-assisted surgery

Robotic or robot-assisted surgery allows doctors to perform many types of complex procedures with greater precision, flexibility, and control than is possible with traditional methods. Surgeons using an AI-based robotic system believe that, for many procedures, it improves accuracy, flexibility and control during surgery, and allows them to see the surgery site better than traditional methods.
Robotic surgery offers patients many benefits to open surgery, including:
👉Shorter hospitalization
👉Reduced pain and discomfort
👉Faster recovery time and return to normal activities
👉Smaller incisions that reduce the risk of infection
👉Reduced blood loss and transfusions
👉Minimal scars

2.Chatbots & Mobile Apps for healthcare

The digital health and wellness market is valued at over $106 billion in 2019, according to a recent Global Market Insights report. And with the global pandemic in 2020 that increases the demand for digital health technologies, the industry is expected to continue to grow 28.5% by 2026. [1]
💡The AI healthcare market is predicted to exceed $34 billion by 2025.[1]

Artificial Intelligence is useful in diagnostics, therapy and customer service through intelligent applications. Chatbots are by far the most popular AI application. What's more, the adoption of chatbots in organizations is growing year by year, and the chatbot market is expected to reach over USD 300 million by 2023. [1]

The development of medical applications has played an important role in providing patients with quick information. Using mobile apps for healthcare, you can find a doctor, make an appointment and view all test reports without leaving your home. Mobile applications not only help patients, but also allows doctors to seamlessly collect and store personal health data.

3.AI-powered alerting systems & Virtual assistants

Today, more and more AI solutions are implemented to support the transition from inpatient to home care, such as remote monitoring, AI alarm systems or virtual assistants. These technologies include the increased use of NLP solutions in hospitals and at home.

Artificial intelligence systems make it easier for virtual nursing assistants to perform a wide range of tasks, from communicating with patients to sending them to a better and more efficient healthcare facility. Such virtual nurses are available 24/7 and can answer questions as well as monitor patients and provide immediate solutions. Nowadays, AI technology is also used in a wider range of specialties, such as oncology, cardiology and neurology.

4.Improved data processing for diagnosis

One of the benefits of AI is the processing of large amounts of data, which allows AI to change various medical devices. For example, one NIH study that used artificial intelligence to diagnose metastatic breast cancer found the technology to be 99% accurate. [2] It has also been shown that artificial intelligence is capable of detecting the spread of cancer cells - micrometastases - which are usually very difficult to detect by specialist human pathologists.

5.Enhanced drug development process

The development of new drugs also requires processing of large amounts of data due to the enormous number of possibilities for chemical combinations. The solution is AI technology, which works amazingly well with large amounts of data. This ability enables more approved drugs to be produced in a faster, more cost-effective process with higher R&D efficiency.

By implementing AI into the drug development process, this technology has great potential to identify the most promising developments in the research process, helping to save time and resources at an early stage.

Future Predictions

AI technology is developing at an incredible pace, so below you can find 3 future predictions about AI in healthcare industry:

👩‍🔬 VR and AR promise to be very useful in the healthcare industry. It is believed that using VR to train healthcare workers improves skill retention by 75% and reduces skill loss by up to 52%. [3]

🧬 AI-powered predictive care: In 2030 health systems can predict when a person is at risk of a chronic disease, for example, and propose preventive measures before they get worse. [4]

👨‍🔬 The future of AI will be based in predicting future diseases, their origins and the spread of the pandemic.

Key Takeaways

▶️Artificial Intelligence truly transforms the modern healthcare industry in many ways.

▶️5 reasons why you should implement AI in your company: robot-assisted surgery, chatbots, AI-powered alerting systems, enhanced drug development and improved data processing for diagnosis.

▶️AI is a huge investment potential for investors and entrepreneurs.

[1]Eleks.com. The Rise of Digital Health and Wellness Software. Accessed on Aug 2, 2021.
[2]Pubmed.gov. Artificial Intelligence-Based Breast Cancer Nodal Metastasis Detection: Insights Into the Black Box for Pathologists. Accessed on Aug 2, 2021.
[3] Bisresearch.com. Global Augmented Reality and Virtual Reality Market in Healthcare.Accessed on Aug 2, 2021.
[4] Weforum.org. Here are 3 ways AI will change healthcare by 2030.

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