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by Finage at February 16, 2023 5 MIN READ
Do you see the word Meta when you open Facebook or Instagram? Well, “meta” is short for “metaverse” meaning that Facebook, Whatsapp, and Instagram is a metaverse where all the apps connect. The CEO's main reason for changing the name was for people to be able to connect, find work, improve business, find friends, communicate, and share stories.
Both AI and Metaverse play important roles here. Through blockchains, IoT, and other forms, the metaverse helps connect various phases of users’ lives. According to different data, metaverse enthusiasts would like to use the metaverse to be able to plan events, tour a home and even try on shoes or clothes, etc. That would be a completely different and exciting world. And actually, that world is not far away. Thanks to AI, this imaginative world is soon turning into a reality.
- Why AI in the Metaverse?
- What is the Metaverse
- What is AI doing to support the Metaverse?
- The real conversation in different languages
- Better chatbots that can solve problems
- Training people
- Final thoughts
The true growth of the metaverse is possible only with AI. The global AI market is expected to hit $1,591.03 billion by 2030. The uses would be expanded and its true potential could be harnessed. With AI and machine learning, you can make metaverse user-friendly. It adds a sense of inclusivity.
As the metaverse refers to a virtual world where users can interact with an online-generated environment, connect with other users in real time, and more, its collective space could be interactive thanks to AI. You will be able to engage in a range of experiences and activities, including trading and commerce.
AI can power the metaverse by enhancing the user experience in the online marketplace, enabling greater personalization thanks to virtual transactions and different algorithms. You will be able to create more realistic environments, allowing for greater immersion and engagement.
When the metaverse is powered by AI, the functions of the metaverse would be seen from both the business and the user’s side. As a result, it would provide customized and accurate results. There is no end to what can be done with AI on its side. Things like real-time translations, digital humans, and accurate avatars would become easy.
Before we go into the details of AI uses in the metaverse, let us first understand what is the metaverse. It is a virtual world which acts like the things of the real world. Web3 and blockchain form the spinal cord of the metaverse, but now there is a shift towards AI to back up the metaverse. A metaverse consists of 7 layers:
- experience: games or shopping
- discovery: ad networks, ratings
- creator economy: workflow, commerce
- spatial computing
- human interface
The function of AI is to provide the ability to act, think, and learn like humans. Metaverse utilizes this ability of machine learning to help in business growth. It provides insight both from the business’s view and the consumer’s point of view. It makes the product inclusive and accessible for everyone. Following are a few ways in which the metaverse can be powered by AI.
You might have seen the avatars on Snapchat, Instagram, and iMessage, however, they are not as realistic as they can be when we use AI. Using face recognition and other recognition technologies, a person’s digital and accurate face can be created.
Why AI though? That can be done even without AI. Well, AI helps to follow and learn mannerisms, facial expressions, and even emotions. That way, your avatar is super accurate and can even be used to make certain facial expressions.
The face is not the limit. Using AI in the metaverse, a complete digital human can be imprinted. These can be utilized to create non-playing characters (NPSs). Where would you need a digital human?
Well, imagine you are playing your favorite video game with you as the character. Wouldn’t that be amazing? It is like you are living in a video game and interacting with other users in the metaverse. Remember the movie “Free Guy” with Ryan Reynolds? Yes, that is not just for the movies anymore.
Learning a different language can take anywhere from 6 months to a few years depending on your learning skills. But what if you don’t have to learn the language anymore and still have a chat with someone who speaks a different language?
Using technologies like speech recognition, translation in the current time, and computer vision, we can have a conversation in multiple languages without feeling the language barrier. For example, speech recognition technology can instantly transcribe spoken words into text, which can then be translated into another language using translation software. Computer vision technology can also help in identifying written text and translating it into the desired language.
Whenever you go to customer support, you always encounter a chatbot that gives you certain phrases and asks you to choose one of the following problems. Most of the time you have a question that does not match that, or at least the answer they give does not help.
But now imagine a chatbot supported by AI that learns as human customer service solves the problem. Thus, the chatbot solves the problem without the need for a human, but like a human. The client would not feel like they are speaking to a chatbot.
Whenever you start a new job, you first go through certain weeks or months of training. What if that could be skipped? The metaverse with AI in it can be utilized to simulate life-like situations and a new trainee can learn and get trained. Of course, there are certain unpredictable situations that can only be learned with real experience.
Additionally, the AI-powered metaverse is the most exciting trend shaping the future of trading. For example, the adoption of AI trading tools is rapidly increasing. Meanwhile, the development of AI-powered metaverses is opening up new possibilities for immersive, data-driven experiences that could transform the way we trade.
AI inclusivity does amazing things for our realm, but it also has its own problems. One would have to think about ownership, transparency issues, controlling fraudulent activities, and legal and ethical issues. However, we can overcome the risks and make the metaverse with AI a reality. Also, the metaverse provides a lot of control to the users rather than the business owners. That is why companies would not be able to use data without the user’s permission and still be able to enjoy a customized and tailored experience.
As well, AI would be able to transform the way that businesses interact with their customers in the digital world changing different niches like trading. By integrating various technologies, for example, responsive widgets that enable seamless experiences across different devices into an AI-powered metaverse, experts would be able to create interactive personalized experiences for their customers in the world of online trading.
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