The gap between the physical and virtual worlds seems to have been bridged with the entry of the Metaverse. Recently, artificial intelligence (AI) and its applications have also attracted attention. But the question looming is how the integration of the two technologies will help shape the global digital landscape. “We believe AI can contribute to the Metaverse by learning from user-metaverse interactions and enabling a better customer experience,” said Co-founder and CEO of GuardianLink, a non-fungible token (NFT) marketplace. Chief Operating Officer (COO) Kameshwaran Elangovan told FE TransformX. .
Market experts suggest that the impact of AI on the metaverse could help with personalization, data protection, and automation of work. According to social media platform LinkedIn, AI’s role in the Metaverse will include shaping avatars, providing three-dimensional (3D) chatbots, and understanding data applications. The platform also said increased user interaction with virtual reality (VR) could enable correlations between AI and the metaverse, creating business promises for learning, entertainment and employment. Data from technology-based platform Calsoft Inc shows other applications of AI in the Metaverse, such as AI for IT Operations (AIOps), Comprehensive User Interfaces (UI), and better smart contracts.
“Through advanced algorithms and machine learning, AI can power the Metaverse and adapt, personalize, and enhance the user experience. can tailor the experience based on personal preferences,” emphasized Navdeep Sharma, co-founder of ReelStar, a Web3.0 integration platform.
Tech Market Reports, a market-based research platform, estimates that the global generative AI in the Metaverse market will reach $428.9 million by 2032, at a compound annual growth rate (CAGR) of 31.5% from 2023-32. is expected to reach In his first three quarters of 2023, global generative AI in the metaverse market expanded by 15% in Q1, 20% in Q2 and 25% in Q3. It is understood that the largest driver of generative AI in the metaverse is North America, followed by Europe and Asia Pacific. According to the report, the Metaverse market revenue share by country in 2023 is 35% in the United States, 15% in Germany, 10% in Australia, 10% in Japan, 60% in North America, 40% in Europe, and 5%. for the UK. A report from cryptocurrency tracking platform BanklessTimes predicts that the total number of Metaverse users will exceed 600 million by 2026 due to the impact of generative AI.
Companies committed to developing metaverse-based technology in 2023 include Microsoft, Meta, Roblox, Decentraland, Epic Games, and Nvidia. For example, Meta’s use of generative AI has created use cases such as generative advertising, image generation, generative AI-based chatbots, and natural language creation. As for costs, online publishing company Medium said costs associated with developing the Metaverse could include his $10 million extra cost, especially for his AI, AR, VR and other technologies. . Implementing AI applications for reasons such as content development and personalization can add from $100,000 to $500,000 to Metaverse development fees.
In 2023, software firm Suffescom Solutions says AI-related costs will start at $900 and could reach $300,000, as specified by digital transformation firm Vegavid Technology, while for the Metaverse it will start in the hundreds of thousands. He said it could be in the millions of dollars. . Moreover, future projections show that the AI-powered metaverse could transform human interactions. However, market research suggests that AI and the metaverse are in their early stages. Within 2030, AI applications will impact areas such as healthcare, education, entertainment, home and service robotics, and transportation, according to insights from a report from private Harvard University. Masu. According to Meta Platforms co-founder and CEO Mark Zuckberg, it could take him five to ten years for the Metaverse to reach mainstream use.
“We expect AI-generated content to merge with human-created content to enrich virtual environments. It should be,” concluded Shrikant Bhalerao, founder and CEO of blockchain cloud company Seracle.