Since 1971, the World Economic Forum has held its yearly main event in Davos, attracting industry and political figures from all parts of the planet to talk about business, governance, and other topics.
The gathering is supported by a few of the world’s biggest corporations, and a lot of advisory industry titans influence its program annually. Accenture, one of WEF’s key partners, is presently assisting the World Economic Forum in constructing a custom metaverse designed to promote improved global collaboration. The idea of a metaverse refers to a network of 3D simulated environments centered on social interaction, which an increasing number of technology experts predict will be the next version of the internet. This concept of a digital common space connects with the World Economic Forum, and the organization intends that the debut of its ‘Global Cooperation Village’ will enable global leaders to share their experiences in a universe without physical limits.
Klaus Schwab, Founder and Executive Director of the World Economic Forum, stated, “With the Global Cooperation Village, we are building a purpose-intent worldwide community in cyberspace.” “Endorsed by a diverse array of public and private sector allies, the Village will employ the cutting-edge powers of the metaverse to discover open, comprehensive, and creative answers to the most pressing challenges of the 21st century.”
The metaverse could also assist the WEF in reducing its carbon impact, as so many attendees of this year’s version were criticized for holding “environment discussions” while commuting short journeys by private aircraft to attend the conference. Accenture and Microsoft worked with 80 organizations for the initial iteration of the Global Collaboration Village, which was utilized during WEF Davos 2023, to help define the village’s growth. Initial interactive areas available via VR headsets or laptops comprised a digital town hall, joint hubs for narrative and actionable insights, and stakeholder sites in the final version.
Within the next year, entities will be asked to establish a footprint in the WEF’s metaverse, while Accenture and Microsoft create and release new features in the backdrop. Julie Sweet, Chair and CEO of Accenture, stated, “The metaverse will deeply alter every aspect of just about every business, traversing our physical and virtual worlds, and will facilitate businesses to develop revolutionary digital consumer goods and services, reshape their manufacturing and operational processes, and redefine how we come together and work.”
Accenture established an advisory business devoted to metaverse technologies and ideas in 2022.