EU Urged to Form Airbus-like Giant for Metaverse Lead
In A Nutshell
A recent report from LSE Consulting, an entity within the London School of Economics and Political Science (LSE), highlights the necessity for a unified, Airbus-like industrial conglomerate to catapult the European Union (EU) to the forefront of the burgeoning Web 4.0, or metaverse, market. Drawing parallels with the aerospace giant Airbus, which maintains European dominance in its sector, the report underscores the potential for Europe to leverage its technological capabilities and economic strength to become a global leader in the metaverse space.
The Call for a Pan-European Metaverse Conglomerate
The LSE Consulting report suggests that to fend off competition from global powerhouses like the U.S. and China, the EU must foster the creation of a pan-European industrial cluster focused on the metaverse. This conglomerate would mirror the success story of Airbus, which emerged from the merger of aerospace entities from France, Germany, and Spain. By promoting cross-border collaboration and focusing on innovation in the metaverse, the EU can exploit its existing technological prowess and economic potential to lead in the Web 4.0 domain.
Recommendations for Achieving Web 4.0 Leadership
Based on analyses of European companies such as BMW, Ikea, and Ericsson that have ventured into metaverse technologies, LSE Consulting offers several strategic recommendations. Key among these is the establishment of an international conglomerate to spearhead European innovation in the metaverse, ensuring that the continent remains competitive on the global stage. Furthermore, the report emphasizes the importance of skills supply training to prepare the European workforce for the challenges and opportunities of metaverse innovation. It also highlights the need for government support in addressing cross-border challenges and setting standards for technology adoption in this emergent sphere.
Industry and Government Collaboration: A Path Forward
Michael Barngrover, Managing Director at XR4Europe, acknowledges the viability of multiple strategies for Europe’s advancement in the metaverse market. He notes that the LSE report’s recommendations are crucial to the ongoing discourse on the continent’s strategic direction in Web 4.0 development. The call for an Airbus-like conglomerate, coupled with enhanced skills training and governmental support, outlines a comprehensive approach to establishing Europe as a leader in the next phase of the internet’s evolution.
Our Take
The ambition to create an ‘Airbus for the metaverse’ reflects a broader recognition of the pivotal role that collaborative efforts and strategic vision will play in defining the future of global technology leadership. While the path to realizing such an ambitious project involves overcoming significant challenges, including regulatory harmonization and investment mobilization, the potential rewards for Europe and its position in the digital economy are substantial. If the EU can successfully leverage its existing assets in technology, innovation, and cross-border cooperation, it stands a strong chance of leading the charge into the Web 4.0 era, setting new standards for digital excellence on the global stage.
