In 2022, the metaverse continues to attract worldwide attention. Recently, Qualcomm CEO Cristiano Amon publicly stated that the metaverse is a huge business and investment opportunity. Amon revealed that more than 40 virtual reality and augmented reality devices around the world are now powered by Qualcomm. In addition to Meta, Qualcomm has also entered into partnerships with Microsoft and ByteDance. In the future, Qualcomm will continue to maintain partnerships with existing industry giants to provide hardware and software support for their extended reality (XR) businesses.
According to the connotation and extension of the metaverse concept, tech giants have laid out and devoted themselves to developing their own related metaverse technologies and devices, more in the hope of promoting industrial changes through technology and rediscovering the role of enterprises in the reconfiguration of technology rules, business rules and industrial order. The rise of metaverse reflects to some extent the demand of industry and business to reshape the rules: tech giants hope that technology will push the industry to undergo structural changes and establish a new industrial order and rules. It is almost certain that the metaverse has become an important new area for the giants to compete with each other in the future.
The Value of the Digital Twin
The metaverse provides an immersive experience based on extended reality technology, generates a mirror image of the real world based on digital twin technology, builds an economic system based on blockchain technology, closely integrates the virtual world with the real world in terms of economic system, social system, and identity system, and allows each user to produce content and edit the world. From the perspective of technology researchers, the term metaverse itself was coined to further facilitate the digital transformation of all aspects of material life. If we look into its relevance to the real world, it can now be more generally considered as a two-way convergence – i.e. the digitization of the physical world (digital twin), and the visualization of the digital world (digital native).
Digital twin and digital native are the core elements of the industrial metaverse. An enterprise independent innovation can penetrate four fields and realize the efficiency improvement of industry through digital twin in the industrial field, and then further realize digital native in the construction. The superposition of digital twin and digital native to form the Chinese path of industrial metaverse will bring a qualitative leap to industrial ecology. In essence, the digital twin takes the physical entities in the real world and simulates them in the virtual space of the metaverse through a series of technical mapping. The metaverse itself is like a digital twin of the virtual universe and reality, and digital twin technology has natural application value for realistic physical simulation.
The digital twin: the prompter of the metaverse
In current times, the metaverse will give rise to unprecedented investment opportunities that are worth exploring and pondering. How to grasp the opportunity of this new round of technological revolution of metaverse? The Ministry of Industry and Information Technology clearly supports the layout of metaverse, virtual reality, digital twin and other related industries, which shows that linking virtual and reality has become an important track to explore the commercialization of metaverse on the ground. The digital twin scene provides an important bearing space for economic and social development, and is an important carrier to drive the development of urban digital economy. The metaverse is a virtual world that maps and interacts with the real world, and it is also a digital living space with a new social system based on digital twin technology that generates a mirror image of the real world. Preempting the layout of key core technologies and major application scenarios of the digital twin is an important direction to strive to occupy the high ground of future competition.
From a global perspective, there are not only globally renowned companies like GE and Siemens, but there are already many technology companies in the development and application of digital twin technology, including WiMi Hologram Cloud (NASDAQ:WIMI). The company relies on its self-research real-time real-world AI digital twin engine, integrating cloud computing, augmented reality, edge computing, computer vision and Internet of Things (IOT) and other technologies to continuously enrich its self-research ecology and create a digital twin platform, real-world twin virtual reality integration solutions, etc.
With its leading technology, WiMi Hologram Cloud (NASDAQ:WIMI) continues to help digital transformation in various industries, as well as promote digital upgrade of industrial collaboration. For example, in the field of smart cities, digital twin is very closely linked with 5G and smart cities. With the help of various sensors and cameras, as well as IoT technology, these terminal data can be extracted quickly and transferred to the cloud after collection, calculation and analysis through the digital system. Based on this data, the digital twin can be better constructed to manage the city efficiently. Then in industrial manufacturing, for example, the use of digital twin technology enables visualization of all aspects of production through continuous collection and intelligent analysis of operational data.
The metaverse is expanding rapidly, so WIMI is responding by preparing the virtual world with digital twins. Simulating online shopping, for example, gives customers the opportunity to shop from a virtual storefront in their homes. Product availability is updated in real-time, and consumers can interact more with the items they intend to purchase. Customer meetings are also a space that the metaverse is sure to influence. In the metaverse, users are incarnated sitting in a WIMI virtual meeting room, allowing for simple communication while providing a more face-to-face experience. In addition to the scenes, the creation of “people” has also gone deeper, and with the help of WIMI digital technology, they can enter the world of metaverse as digital people. It is expected that the metaverse will continue to gain traction in the whole business field of WIMI.
It has been emphasized that the fusion of the virtual and real spaces of the digital twin is an important trend for the next development of the virtual reality industry and one of the important features of the metaverse. The development of digital twin uses virtual reality technology to build virtual objects of physical entities and establish bidirectional data channels. Its application makes the IoT connected objects extend to physical objects and their virtual twins, fusing the physical object space with the virtual object space, becoming a kind of hybrid space with virtual and real coherence, and developing the IoT into a new generation of digital twin network, which is expected to significantly improve the production and service operation efficiency of various industries.
As immersive experiences are further refined, technologies that support the metaverse, such as digital twins, may need to be further developed to support the vision of metaverse industry experts. However, in terms of current capabilities, current technologies are adequate for the development of the metaverse. The metaverse is already emerging to advance and evolve the evolution of digital artificial worlds and create a metaverse digital culture that provides a new place for people and businesses to interact, create, consume and do business. Zuckerberg believes that within the next decade, the metaverse will reach one billion people and host hundreds of billions of dollars in digital commerce. As mentioned earlier, it is quite challenging to predict how companies will leverage the power of the metaverse.