Saudi Arabia To Explore Talent Pool To Improve Its Industrial Metaverse
The metaverse has become the subject of great debate for some time, notably about its uses in social networking, online retail, and gaming. On the other hand, Saudi Arabia wants to expand its potential by leveraging the metaverse for industrial purposes.
On Thursday, Abdullah Alswaha, the country’s Minister of Communication, said Saudi Arabia would increase its focus on talent building for its industrial metaverse. He made the statement while speaking at the World Economic Forum.
Saudi Arabia’s Metaverse Development
In line with its Vision 2030 objectives, Saudi Arabia is working to diversify its economy. A recent Strategy & Middle East report estimates that by 2030, the metaverse could add as much as $7.6 billion to the nation’s economy annually.
As a result, the Kingdom has announced its commitment to invest $6.4 billion in cutting-edge technologies, with a specific allocation of $1 billion designated for metaverse development.
Last year, NEOM’s digital division said the metaverse would allow users to exist in the digital and real world at the same time. This project will allow designers, engineers, architects, and more to create a platform where they can work together.
In addition, the Saudi Crown Prince, Alwaleed bin Talal, proposed a digital twin of the initiative to assist with the build, design, and evaluation phases before the commencement of work on the task. Furthermore, last November, the billionaire Prince led the opening of an advanced virtual charity center in the virtual world, which is part of several projects conducted in Saudi Arabia.
Interestingly, Saudi Arabia has lots of highly educated young individuals. Thus, it will be easier for the country to pursue more opportunities in the digital world.
The Idea Of Digital Twins
With 65% of its citizens under 35 residing in urban areas and being well-educated, Saudi Arabia is well-positioned to take advantage of the opportunities the metaverse offers. Despite the potential benefits of the metaverse, Saudi Arabia needs to comprehend its potential risks fully.
The nation must establish a comprehensive policy framework that will cater to these risks and capitalize on its many benefits. By approaching the metaverse with a well-thought-out strategy, Saudi Arabia can become a leader.
Meanwhile, the industrial metaverse is one initiative that can revolutionize the world’s economy. It combines VR, AR, and other techs to create a digital space that mirrors the real world.
This digital world can showcase buildings, factories, machines, and other real-life sceneries or objects. One application of the metaverse is the introduction of digital twins, which can be the simulation of a factory or company to optimize, detect, and rectify problems.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
