Augmented reality and the meta-version will revolutionize work and life as we know it, according to a number of experts surveyed by KPMG, with many shifts occurring before the end of this decade.
The professional services firm tapped more than a dozen global experts and industry leaders for their views on the future of augmented reality and compiled the best predictions — including that by the end of the decade, people will spend more physical conscious time in the metaspace than in the real world, or up to 15 hours a day with a device on the head.
The accounting and consulting firm believes such projections provide a clear reason for businesses to act now.
“Augmented reality (XR) enthusiasts have long dreamed of, experimented with, and embraced the technology into new worlds beyond the boundaries of physics and time,” said the report’s authors, KPMG’s head of digital and data solutions Peter Xing and global Insights. Center Director Kristin Boesenberg.
“We believe the industry is at an inflection point and it’s time for business to act as we prepare for the next phase in the future of work and life as we know it.”
Expert predictions cover a range of areas likely to be impacted by emerging XR technology (with XR an umbrella term covering virtual, augmented or mixed reality), including emerging capabilities, business models and economies in the metaverse. For those who believe that we will soon spend most of our waking lives in the metaverse, it naturally follows that its financial value will then begin to rival that of physical world assets.
In terms of revenue, David Whelan, CEO of 3D space platform Engage, points to the rush to buy TVs after Neil Armstrong’s moon walk and the likelihood that when the first man lands on Mars in five years or so, the event will be supported. 360° cameras located on its surface. “So your choice will be, do I watch this event on TV, or do I put on my headphones and stand next to the person taking this historic step?”
Whelan also believes that in the next three to five years, more than half of the global office workforce will move to fully remote work on XR-enabled platforms – with the changed workplace a common theme among the experts surveyed. From next year, business meetings are expected to take place in the metaverse on a regular basis, while there will also be full-time service and support jobs conducted exclusively in virtual reality worlds.
On the other hand, security and privacy concerns were also very common concerns, with demands for strong regulatory oversight. In a disturbing scenario, HTC China president Alvin Graylin noted that having EEG sensors in our devices to send signals and control things could be used both ways, with Whelan adding that using eye tracking and biometric sensors, a short walk down a virtual street would reveal tons of personal information, including sexual preference.
Still, the arrival of XR could have a revolutionary impact on what we believe is fundamentally human. Graylin says; “Any data you ever want to know is instantly available in front of your eyes. You are fully capable of using your brain not to do basic recollections or research, but actually to make critical decisions. I think it will change who we are as people. It will change why we learn what we learn. We won’t have to (remember things) anymore.”
Top Ten Augmented Reality and Metaverse Predictions
Landing on Mars by 2026 will be a watershed moment for XR as viewers step inside with the first astronaut on Mars.
Board meetings are held in the Metaverse until 2023. In the coming years, XR will be second nature to the language and functioning of government and businesses for information sharing and collaboration.
Access to higher education will be more democratized and delivered on a virtual campus with digitized assets such as museums as a service.
Digital real estate, currencies, and other assets in the metaverse will commonly be included in wills.
By 2030:
People will spend more physical conscious time in the metaverse than in the real world, and the financial value of the metaverse will begin to challenge the financial value of physical world assets. People will routinely apply for jobs, earn a living, shop, meet friends, and even get married in the metaverse.
The flat screen, keyboard and mouse will disappear and be replaced by plate-like glasses and contact lenses for spatial collaboration across different disciplines. A new control interface will be developed.
Customer service will be provided by digital people for shopping and other activities and remote support with overlay information in XR.
Synthetic data generated from simulated worlds will guide robots to solve problems, saving humans from high-risk work.
Human thoughts will be able to be monitored, recorded and influenced by XR and Brain Computer Interfaces (BCIs), leading to privacy-focused regulation. Brain power will be used for decision making rather than memorization.
XR technologies will achieve horizontal convergence to ensure greater interoperability and portability.