As AI technology continues to mature, the metaverse is showing a development trend of deep integration with AI. Recently, I learned from many industry insiders that due to the continuous increase in AI data needs, the demand for related data assets has surged, and some metaverse technology companies are focusing on a highly realistic 3D digital asset library as their core direction.
Several industry insiders told reporters that with the support of AI technology, the metaverse can provide a more realistic experience and achieve seamless connection between the virtual and the real world. However, the interviewed industry insiders also pointed out that both the metaverse business model and the technology and regulatory framework of the metaverse need further improvement and optimization. Due to the wide range of applications of metaverse technology, involving many traditional policies and regulatory departments, the industry is also looking forward to an integrated regulatory framework.
Deep integration has become a development trend. As one of the important development directions of the Shanghai Science and Technology Innovation Center, the metaverse industry is gaining more resource inclination. Recently, I learned that in order to implement the specific tasks of the "Shanghai City Cultivating 'Metaverse' New Track Action Plan (2022-2025)", the Shanghai Digital Cultural Creation and Metaverse Industry Alliance is promoting the exchange and cooperation of various market entities, and driving industry aggregation and project landing through the linkage of urban and rural areas by building an industrial research system, industrial linkage ecosystem, and project landing mechanism.
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It is reported that the alliance has attracted many investors, entrepreneurs, and industry experts to participate through regular metaverse project roadshow activities, including government industry funds, listed company strategic investments, cultural group company strategic investments, and venture capital institutions, and has provided equity financing services for many companies.
Recently, the Shanghai Municipal Science and Technology Commission issued the "Shanghai City 2024 'Science and Technology Innovation Action Plan' Metaverse Project Guide" according to the "Shanghai City 'Metaverse' Key Technology R&D Action Plan (2023-2025)", providing non-fixed funding for enterprises researching and developing related key technologies or products.
In terms of technology, the metaverse is accelerating its integration with AI.Chi Xuan, Dean of the Metaverse Research Institute at Payworld, told the reporter that AI technology is key to building the underlying technology of the metaverse, including fields such as graphics and imaging, perception and interaction, digital twins, and trustworthy data circulation. These technologies enable the metaverse to provide a more realistic experience and achieve seamless connection between the virtual and the real. AI technology can automatically generate content within the metaverse, improving the efficiency of content creation.
The person in charge of the Shanghai Digital Cultural Creation and Metaverse Industry Alliance also said that AI can provide more intelligent services and functions for the metaverse, such as intelligent recommendations, automated management, content generation, etc., thereby enhancing user experience and the overall efficiency of the metaverse. At the same time, the metaverse also provides AI with abundant data and scenarios, which helps the further development and optimization of AI technology. For example, the interaction capabilities of AI-driven digital humans and virtual characters have been greatly improved. In addition to having different appearances, personalities, and behavior patterns, AI can understand user intentions and provide answers and feedback, making the user experience more natural.
The integration of the two has also given rise to more application scenarios. Not long ago, Shanghai Bank officially released the first metaverse bank in the market. The bank uses metaverse, blockchain, and AIGC technologies, with a new virtual digital space as the carrier, enabling financial consumers to obtain better personalized experiences, emotional identification, social satisfaction, and privacy protection.
Chi Xuan also told the reporter that Payworld is exploring the application of metaverse technology in related scenarios. For example, to ensure the intellectual property rights and digital financial security of merchants, the company has created a "blockchain + on-chain programmable payment" solution, supporting digital cultural creation, copyright distribution, digital rights certification and issuance, membership and points systems, games, metaverse, and other Web3.0 multi-consumer scenarios.
Lin Qing, Deputy Secretary-General of the Shanghai Digital Cultural Creation and Metaverse Industry Alliance, believes that from the meticulous creation of virtual environments to the creation of intelligent characters, and then to the realization of immersive interaction, artificial intelligence, as the core driving force, is reshaping the metaverse experience.
Technology, regulatory frameworks, and other aspects still need to be optimized.
Lin Qing also pointed out that there is still room for improvement in Shanghai's comprehensive indicators of the metaverse across the country, and it is necessary to continuously strengthen business model innovation, improve user experience, and enrich scenarios and content.
The person in charge of the alliance further told the reporter that on the one hand, the maturity of metaverse industry technology is still insufficient. Although technologies such as VR and AR have made certain progress, the current equipment still faces technical issues such as display clarity, insufficient computing power, and heavy weight, which are still lacking in providing immersive experiences. On the other hand, in terms of business models, most companies are still in the exploratory stage, and the investment in this field also has a certain degree of uncertainty, and these reasons all limit the production of high-quality content in the metaverse.
Chi Xuan told the reporter that in addition to the insufficient maturity of technology affecting the stability of applications and user experience, regulatory compliance and user acceptance also need to be continuously improved and strengthened. In terms of regulation, the cross-border characteristics of the metaverse make regulation more complex, requiring new legal frameworks and regulatory mechanisms to adapt to this emerging field. In terms of acceptance, users are currently cautious about new technologies and still lack trust in the security and convenience of financial transactions in the metaverse.
From the perspective of the complexity of regulation, Zhang Feng, a partner at Wan Shang Tian Qin Law Firm, a think tank expert of the Shanghai Blockchain Technology Association, and a scientific and technological evaluation expert, specifically elaborated to the reporter that due to the wide range of connections and product services of metaverse technology applications, involving many traditional policies and regulatory departments, it is necessary to establish a corresponding collaborative regulatory framework to clarify corresponding responsibilities, strengthen cross-departmental collaboration, and thus form a joint force.Zhang Feng further pointed out that to form an integrated regulatory system across various departments of the metaverse, corresponding measures need to be taken to build an integrated industrial regulatory system. He suggested that, based on the existing regulatory agencies' organizational functions, processes, and operations, under the guidance of the metaverse industry development strategy, combined with the requirements for building its industrial system, the relevant agencies should be divided according to their positioning into the industrial development decision-making layer, industrial development execution layer, industrial development platform layer, and industrial development support layer. This would form a seamless industrial development organizational system, thereby fundamentally forming a regulatory synergy.
From the perspective of enterprises, Chi Xuan told reporters that in response to the aforementioned development challenges, Hui Fu Tian Xia has increased investment in research and development related to the metaverse while actively cooperating with regulatory agencies to explore legal and regulatory frameworks adapted to the characteristics of the metaverse to ensure compliant operations. At the same time, they will also guide users to use relevant services correctly through related education.
Many industry insiders interviewed believe that the metaverse will promote each other with the digital economy.
Chi Xuan said that the metaverse provides new application scenarios, business models, and technical development directions for the digital economy, such as payment, which is the most important infrastructure of the metaverse.
The aforementioned alliance's responsible person also said that the metaverse, as a virtual world built by technologies such as artificial intelligence, virtual reality, and blockchain, provides new platforms and opportunities for the digital economy, while the digital economy provides a solid foundation and momentum for the development of the metaverse.
He believes that in recent years, metaverse-related projects have appeared in Shanghai with a phenomenon-level boom, with an increasing number of upstream and downstream units participating, creating new consumption patterns and economic growth points. At the same time, the application of the metaverse in multiple industries can provide new paths and means for traditional industries to achieve digital transformation.