Is the metaverse going to change life as we know it? What does this mean for our future?
Recently there has been a lot of discussion around singularity and whether we soon will be entering a phase where artificial general intelligence will become reality. However, before we delve deep into the philosophical and ethical implications of singularity, we have to understand what it really is, its actual limitations and why it may happen in a way that is different than anticipated.
Singularity is the notion that the exponential acceleration of technological development will lead to a situation where artificial intelligence supersedes human intelligence and will eventually escape our control. Some even predict catastrophic consequences for humanity where machines will become the dominant species on this planet. This may seem a bit far-fetched, at least for the near future, given that advancements in hardware development and robotics are not catching up with the software when it comes to artificial general intelligence. However, one can argue that the recent hype and developments surrounding the metaverse will definitely open the door to the rethink of Singularity. But what is the metaverse, and why is it such a big deal?
The next internet
Recent market analysis has estimated that the metaverse market opportunity could be around $800 billion by 2024. This could be seen as an expected meteoric rise for the metaverse, given such an estimated market size; however, the question that many people are asking is, what is the metaverse?
Presently, there isn’t a single definition; if you think about today’s internet as a virtual two-dimensional (2D) space where you can produce and share content, create value and connect with anyone anywhere, then the metaverse may be thought of as a virtual three-dimensional (3D) space where you can do everything that you can do in today’s internet while being fully immersed (through VR/AR) in that space exactly as you would be in the real world, but in a virtual realistic graphics-driven manner while being able to interact, connect, transact and create with others.
Simply put, existing in the metaverse is the equivalent of living inside the internet. This opens the possibility of the creation of a new world, a new economy and new possibilities.
However, unlike the internet, the VR immersion would trick the human brain into releasing the same chemicals (endorphins, serotonin, dopamine) the same way as you would in the real world, which will make it more natural and more realistic for humans to inhabit than the internet. It’s a virtual environment where you can interact with people in a digital space. It is going inside the internet instead of just looking at it!
Today, some may think that VR is for video gamers; but historically, games have always preceded mainstream adoption. Space Invaders and Super Mario were played way before we started using Google. The same applies to VR: it is simply a gateway into the metaverse.
What makes the metaverse unique?
To elaborate on this point more, If we think about it, we have had mainframe computers that evolved to personal computers, which then evolved to mobile devices. In the case of the metaverse, however, the leap or the iteration does not necessarily go to a faster device. Instead, of virtual simulations of virtual worlds and virtual environments where through VR and AR, we can finally make it possible to buy things in the real world through these environments. But, in particular, also to buy things that just happen to exist in these virtual environments. Connecting computers to the internet have catapulted them to mainstream use and marked the beginning of the dot-com era, and the last 15 years were clearly shaped by the mobile phone, which led to full mass adoption.
This makes the metaverse a very practical concept. It’s not just VR concerts, 3D gatherings or digital assets, the metaverse is an idea that brings these concepts together and tries to explain how they are all connected.
Matthew Ball, an outspoken proponent of the metaverse, has outlined a few key ideas that show what this evolved form of the internet will look like. He identified that the metaverse is permanent, which means it will never reset, pause or exit. He also identified that the metaverse will be live (in real-time) as much of the internet today is designed for asynchronous use (think YouTube videos). There will also be no limit on concurrent users: this is one of the most difficult problems from a technical point of view (think ZOOM calls). Because of the massive parallelism, the metaverse experience will be very different from the internet today.
However, the most important observation is that the metaverse will have a fully functional economy. The internet is fast becoming the best place to make money; almost every business has gone online, but the digital economy still has a long way to go. Most transactions are still fragmented, especially in virtual spaces and investments in digital goods are still in their infancy. Furthermore, due to the potential for interoperability between different providers, user-generated content will play a huge role in the metaverse.
Related: The New Wave of Web 3.0 Metaverse Innovations
The creation of a new economy
One of the most important elements is the payments infrastructure, which will undoubtedly be one of the cornerstones of the metaverse. The ability to buy, sell and most importantly, own things in the metaverse could be the most transformative part of this new era. This will lead to a situation where decentralized ledger technologies or blockchains will actually be the most practical, if not ultimate, solution for value exchange and for storing value. The opportunities for economic growth will be unfathomable, as this is literally creating a new world where users will interact, transact, own, exchange and share economic value.
This opens a whole new door for cryptocurrencies that policymakers are still struggling to regulate in the real world; how then can they be well-regulated in a metaverse?
Covid-19 has highlighted the fact that we have already migrated our life to the digital world: we work, transact business and communicate online. The next frontier will be to exist inside this digital world that has taken shape around us.
Related: 5 Reasons Why NFTs Are The Metaverse’s Ideal Revenue Model
Will artificial intelligence dominate the metaverse?
As mentioned at the start of this article, it may still be hard to create human-looking android machines that will take over the real world. However, in a world where everything is digital, it will not be difficult to create intelligent self-replicating agents that can send and learn from their environment and evolve to take over its environment. The metaverse will provide just that.
Decades ago, The Godfather of AI Marvin Minsky introduced the concept of the society of mind, where our cognitive processes and cognitive architecture are not confined to one particular place and are not isolated processes; it is the collective behaviours of many subtly ingrained concepts that our minds are capable of. Obviously, intelligence, when polluted with negative traits like greed, avarice and vindictiveness, can become a curse to mankind.
While this is not a new concept in the domain of AI, it assumes great significance, given that our brains are massively complex networks of hundreds of billions of neurons that are in constant communication with each other. It is what helps humans to understand what is going on. Neurons start triggering and responding to a multitude of fast-paced reactions, setting up patterns within the brain that subsequently decide the course of actions to be performed by our mind and body in perfect unison. Historically, AI experts have tried to replicate this process using artificial neural networks (ANNs), but this was mere software-based trickery to simulate the human brain.
This is now changing rapidly as the hardware design is starting to transition, with the advancement of Neuromorphic computing in which traditional semiconductor architectures are being disrupted and re-engineered to mimic the structure of the human brain, where processing and memory are being combined in one unit, the neural structure that Marvin Minsky created and many other structures are slowly becoming a reality from a hardware standpoint. This in turn is already making AI faster, better and more general. This is incredibly exciting because if used properly, it will produce applications that are incredibly intelligent and may eventually supersede human level general intelligence.
This is particularly relevant for the metaverse, which will not only be a place where avatar-wearing humans are interacting with other avatar-wearing humans in a virtual 3D space but will potentially be the first place and chance where artificially intelligent agents can finally exhibit a quasi-human behaviour, without the physical limitations of building an actual humanoid robot in the real world. With the advancements in AI, and specifically Neuromorphic computing, which is accelerating the approach of artificial general intelligence (AGI), we may witness a metaverse where an AI is indistinguishable from a human!
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