- Auxiliary sectors predicted to create 1.2 million to 2.4 million jobs by 2025
- Extended reality technology is behind Web4, the next generation of the internet
- 3D models can mitigate global warming, surgeons can be trained in virtual worlds
The European Commission (EC) expects Web4, or extended reality technology, to create up to 860,000 jobs in Europe by 2025, Cointelegraph wrote, citing a factsheet published by the EC. This technology is developed to let users interact with virtual worlds. It is an umbrella term for immersive technologies, including augmented reality, virtual reality, and mixed reality. It is a “major technology enabler” for virtual worlds.
“Highly significant” impact on job market
The EC said this technology’s impact on the job market would be critical and added that other sectors would create another 1.2 million to 2.4 million jobs by 2025, directly or indirectly. Although most metaverse-related innovation happens in China, the United States, and South Korea, there is room for AR and VR applications in Europe, such as healthcare, retail, manufacturing, military, and defense.
The EC noted that extended reality technology, which enables virtual worlds, is also behind Web4, the next generation of the internet. In it, digital and physical objects come together in real time in virtual environments.
The Commission stated:
We are at the onset of a major technological transition, Web4. Virtual worlds are an important enabler of Web4 that can significantly revolutionize the daily lives of people and open a wide range of opportunities in many business and industrial ecosystems.
Examples of ways Web4 can revolutionize daily life include using 3D models to mitigate global warming and training surgeons to perform complicated operations in virtual worlds.
The EC proposed a plan to become a global leader in the metaverse and Web4 in a working document sent to the European Parliament. Thierry Breton, the European Commissioner for Internal Market, commented:
Europe has what it takes to lead the next technological transition: innovative start-ups, rich creative content, and industrial applications, a strong role as a global standard-setter, and an innovation-friendly and predictable legal framework.
The EC proposed 10 measures to achieve its goal. They include attracting experts to Europe, testing new ideas in regulatory sandboxes, and setting world standards for interoperable metaverses.
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