Intelligent CIO APAC Issue 25 - Page 83

FINAL WORD
There are considerable opportunities as well as risks in this space . Most of the effort right now is being expended on exploring and understanding the opportunities side . An open discussion about the risks is needed , too .
The biggest risk is that we simply take , replicate and amplify problems we already see in the ‘ real world ’ and online into the new ‘ digital worlds ’ that collectively make up the metaverse . That is , the things we didn ’ t like about the real world , that were multiplied by moving them online , could multiply again in the metaverse .
Which is why we need to sit down and set up some guardrails for the metaverse ’ s evolution , allowing it to develop in a measured way that learns from past lessons instead of simply repeating them .
Collaboration will be required between industries , experts , governments and regulators to ensure terms of use , privacy controls and safety features are appropriate to the new technology .
The five risk areas
While the metaverse environment remains completely unpoliced , it makes it a perfect space for fraud , money laundering , child exploitation , misinformation and cyberattacks .
With multiple worlds now being created that users can move between , this freedom of travel opens up the user to new risks of hacks and exploits posed by the
The inability of existing online platforms to enforce robust user integrity and trust raises concerns about further exploitation within the metaverse .
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