Intelligent CIO Europe Issue 59 - Page 82

What do you currently identify as the major areas of investment in your industry ? far beyond the entertainment and productivity sectors that have dominated metaverse headlines in the past . Organisations that are able to harness the deep functionalities , scale and network effects that metaverse technologies provide will gain a foothold in their industries for the future .
We see this backed up by huge investment in technology for building the metaverse already this year ( around US $ 120 billion allocated so far , according to McKinsey & Company , more than double the figure for the whole of 2021 ), as well as the inauguration of the Metaverse Standards Forum , which includes some of the biggest players across various industries , including Hadean , and aims to make strides in establishing common standards for the development of the metaverse going forward .
I focus on setting clear expectations and outcomes and trusting people to deliver .
Major investment is going into the harnessing of virtual world technologies in a variety of sectors . This includes Digital Twins , which enable deep understanding of physical systems through simulations that mirror them in virtual form , allowing for deeper visualisation , manipulation and analysis of their processes . These can leverage live data from live IoT devices to form ultra-precise virtual models in real-time . The result is the ‘ smart systems ’ trend in Digital Twin enabled organisations , with applications in civil engineering , manufacturing , real estate , supply chain management , surveying of natural resources and more .
These simulations obviously require a lot of computing power and complex networking and so companies are also investing heavily into novel ways of leveraging power and extensibility of distributing cloud computing , particularly with regard to the building of scalable , complex , interoperable and secure virtual worlds .
Investment in these technologies will be a major catalyst for the development of the metaverse , which places similarly massive demands on the scale and connectivity of virtual environments . In defence , moreover , there has been a lot of funding allocated to technologies that can enable multi-domain synthetic training environments , where geographically disparate troops can come together to run training operations in virtual worlds that accurately simulate the real world .
Hadean has established itself as a leading figure in these spaces , providing a platform and supporting technologies that are tailor-made for building virtual worlds for web3.0 and the metaverse , with significant partnerships in defence and industry as well . Hence it is that we see huge investments from various sectors converging into the technology that can effectively power and unpin the virtual world simulation technologies of the future .
What are the region-specific challenges when implementing new technologies in Europe ?
In my opinion , the VC landscape and ethos in Europe is still lagging far behind the US . Many European investors still take a financial and bottomline optimisation approach to building businesses incrementally , rather than committing to the necessary investment for top-line exponential growth with the long-term team incentivisation mechanisms in place to build it . This can lead to situations where the company ’ s objectives and its investors become misaligned which is a challenging distraction for any start-up . p
82 INTELLIGENTCIO EUROPE www . intelligentcio . com