WEF establishes purpose-driven metaverse to tackle world's most pressing challenges

The World Economic Forum on Tuesday unveiled a working prototype of its Global Collaboration Village, a purpose-driven metaverse, where organisations can convene to learn about, create solutions for, and take action on the world's most pressing challenges.

It was launched in partnership with Accenture and Microsoft.

"With the Global Collaboration Village, we are creating the first public purpose-oriented application of the metaverse technology, building a true global village in the virtual space," WEF Founder and Executive Chairman Klaus Schwab said.

"Supported by a unique range of partners from the public and private sectors, the village will use the frontier capabilities of the metaverse to find solutions for addressing the big issues of our time in a more open, inclusive, and sustained way," he added.

Julie Sweet, Chair and Chief Executive Officer of Accenture, said, "The metaverse will profoundly change every part of every business, bridging our physical and digital worlds, and over time will enable companies to create innovative new consumer products and services, transform their manufacturing and operations, and reimagine the way we collaborate and work".

Brad Smith, Vice-Chair and President of Microsoft Corporation, said, "We believe the metaverse has the potential to fundamentally change the way we communicate and collaborate, overcoming limitations of the physical world to deliver enhanced connections for everyone."

The Global Collaboration Village, powered by Microsoft Mesh, is a prime example of how metaverse technology can be used to bring people and communities together in new ways, he added.

The village has got a town hall and a virtual Congress Centre for future sessions or meetings, such as plenaries, workshops, and bilaterals.

Virtual collaboration spaces for immersive storytelling and the forum's thought leadership are intended to inspire collaboration, experiential learning and real-world impact on global issues.

For example, in a virtual ocean hub, participants can dive into the ocean's depths and explore why and how marine ecosystems must be protected to preserve life on land and in water.

There are also stakeholder campuses, where WEF partners can shape their presence, convene their stakeholders, and partner with others to innovate and find solutions to global challenges.

Over the next year, the forum will invite organisations to build in these immersive spaces to bolster learning, collaboration and partnership further.