The role of AI in the Metaverse has yet to be established. Is AI and blockchain technology a good fit? Let’s take a look at the future of AI and Blockchain.
What is AI (Artificial Intelligence)?
Artificial Intelligence (AI) is a branch of computer science that aims to build intelligent machines that can mimic human thought processes. The algorithms that power AI systems search for patterns and correlations in massive amounts of labeled training data and then use these patterns to make predictions. AI systems are able to process data much faster and more precisely than humans.
Intelligent assistants like Alexa, self-driving cars, conversational bots, Robo advisors, email spam filters, and more are all examples of AI’s applications. Metaverse is the newest addition to this list. As a result, the future impact of artificial intelligence on the metaverse is now a common topic of conversation in the tech community.
Experts argue that the transformative potential of artificial intelligence in relation to blockchain technology is being grossly undervalued.
What is Metaverse?
Virtual reality, augmented reality, and blockchain technology are all part of the metaverse, which is referred to as XR (extended reality).
Initially, the Metaverse was only accessible through a virtual reality headset, but it has since been made available on browsers, making it accessible to anyone. Eye movements, voice commands, and feedback controllers allow users to navigate this world. The user can experience the immersive world and see the metaverse in action through the use of a headset and engage in activities such as gaming, shopping, and more through avatars.
The global metaverse market is expected to grow at a CAGR of 43.3% between now and 2030, with a market value of USD 1,607.12 billion.
Increased demand for virtual, augmented, and mixed reality applications and products is a key factor in the global market’s growth.
How are AI, blockchain, and XR (extended reality) interconnected?
The metaverse is flooded with use cases thanks to the technologies involved, leaving only imagination as the limitation.
XR has given rise to a previously unimaginable virtual reality. Decentralization, transparency, and irreversible transactions are all made possible by blockchain, which eliminates the need for a single governing authority.
An essential component of the Metaverse, NFT tokens, are created using blockchain technology. NFTs underlie everything in the metaverse, from land, vehicles or gift items.
It’s possible to create new products like live virtual conferences with artificial intelligence in the metaverse by overcoming challenges like poor interactive quality. As a result, the metaverse‘s user-friendly interfaces and forecasting abilities will be further enhanced. Games, interactions, and businesses become more dynamic, engaging, and successful.
Decentraland (MANA) and The Sandbox (SAND) have helped to popularize the Metaverse term and technology. Participants can buy and sell virtual real estate while having a blast playing exciting games on Decentraland, whereas Sandbox offers a gaming ecosystem that allows users to create, share, and monetize gaming assets.
With the use of advanced XR and AI technologies, virtual worlds have become more engaging, resulting in a better user experience and increased revenue for all parties in the ecosystem.
The Metaverse will be shaped by conversational AI
AI for voice assistants has made its way into the metaverses of the new era, powering applications with use cases like lifestyle assistance and personalized recommendations. Users can use a metaverse-based AI-powered bot to take them on a virtual tour of breathtaking locations without having to deal with a travel agency.
The metaverse’s use of natural language processing (NLP) elevates the experience above that of the real world. When it comes to interpreting avatar requests, voice AI can take into account a user’s preferences and speak in a language that sounds more human.
Global natural language processing (NLP) market revenue from 2017 to 2025 in million US dollars:
XR is the key to deep Metaverse collaboration
A metaverse powered by AI allows users to take on tasks that are more fun, engaging, and impactful than they would be otherwise. For example, MeetKai’s conversational AI can understand more complex speech, provide personalized results, and respond quickly by remembering user preferences and context in natural conversations about various topics.
XR is particularly effective when only a few conditions must be met, as when doing something as simple as playing a board game, dim lighting, or listening to specific music.
Immersive Learning in Metaverse
As a Metaverse use case, immersive learning allows companies to simulate real-world learning experiences.
The Metaverse has the potential to revolutionize both traditional education and on-the-job training. Because it is available on-demand, more effective, and more personalized, education in the Metaverse puts the focus on the learner.
A recent study by PwC found that immersive learning is more effective than in-person learning and traditional e-learning, with a 40% improvement over the traditional classroom.
Learning in the metaverse is already being utilized by companies for use cases such as leadership development, employee onboarding, and VR soft skill training. At the moment, these training sessions take place in Microverses, which can be thought of as virtual office spaces or classrooms that are separated from one another. Individual role play, coaching and mentorship sessions, and larger group learning formats with multiple learners in the same space are all possible in virtual environments.
The Metaverse is poised to revolutionize education for students and the workforce alike, thanks to the technology already in place and the growing number of immersive learning use cases.