On the 16th January, Inspiring Futures, a partner of OPENVERSE, launched a new series of exclusive, invitation-only “Improved Foresight” workshops to assess the technological drivers, evaluate Europe’s strengths and weaknesses, and anticipate the impact of disruptors on virtual ecosystems. Using an interactive foresight-driven approach, the goal was to engage participants in a structured exercise on the strategies for boosting Europe’s competitiveness, fostering inclusivity, and aligning with societal values. The workshops brought together industry experts, policymakers, academics, and representatives from the European Commission to collaboratively envision a human-centred, open digital future.
Building on existing strengths and addressing weaknesses
Sectors like gaming, digital art, and fashion have been recognised as areas where European SMEs and startups could thrive by leveraging their creativity and adaptability to deliver high-quality content and tailored solutions. Similar opportunities exist for professional applications in the industry and service sectors, with existing Virtual Worlds already providing a promising foundation. However, developing these applications will require more effort to remain competitive. A key takeaway was the need for focused support to close these gaps in platform and component development, ensuring that these industries remain globally competitive.
Challenges and opportunities for SMEs and startups
Fragmented regulations across EU member states continue to be a significant obstacle, especially for SMEs trying to expand beyond their borders. Participants emphasised the need for a unified regulatory framework that would simplify operations and cut down on inefficiencies. Additionally, Europe’s underinvestment in foundational technologies like quantum computing and neural networks was identified as a major shortcoming.
The importance of SMEs and startups was a focal point among discussions with participants. How do we empower these smaller entities to thrive in the Virtual World ecosystem? Suggestions centred on fostering innovation in content creation, localisation, and developing specialised technologies. Participants emphasised the need for cross-European collaborations to share technical expertise and address regional disparities in resources and skills.
A key takeaway was the importance of ensuring ethical governance in global labour dynamics. As outsourcing digital labour becomes more prevalent, participants stressed the need to uphold ethical standards and invest in local talent development to retain value within Europe. Incentivising innovation through targeted funding programmes and tax benefits was also proposed as a means of supporting SMEs in exploring niche markets and disruptive technologies.
Navigating disruptors and embracing sustainability
The workshop’s long-term perspective addressed three potential disruptors: quantum computing, neural technologies, and environmental factors. While these disruptors hold transformative potential, they also present challenges that require pre-emptive action. Quantum computing, for instance, promises unprecedented computational power but remains inaccessible to most SMEs due to its nascent stage of development.
Fears about surveillance and societal pushback dampened the optimistic view of brain-computer interfaces enabling effortless interactions in virtual environments. To address these issues, participants suggested building on Europe’s leadership in data protection as a foundation for creating comprehensive ethical and regulatory frameworks for these technologies.
What about the environmental implications of Virtual Worlds? On one hand, virtualisation could help reduce physical waste and the ecological footprint of traditional industries. On the other, the energy consumption required for AI training, blockchain, and streaming technologies is considerable. Participants stressed the importance of incorporating environmental impact assessments into research and development processes, advocating for the promotion of circular digital economies to ensure that technological advancements are achieved in harmony with sustainability goals.
Recommendations and next steps to support Europe’s strategy for Virtual Worlds:
- Work on a regulatory coherence
- Strategic investments: Increased funding and access to financing for supportive technologies like artificial intelligence, blockchain technologies, and cloud and edge solutions
- Standardisation initiatives: for a cohesive ecosystem and enabling seamless cross-platform compatibility.
- Equity in development: Addressing geographical disparities through targeted investments in education, training, and infrastructure.
- Sustainability as a guiding principle: align technological advancements with the EU’s Green Deal objectives, ensuring long-term viability.
- Capacity building for SMEs: Supporting SMEs through funding, tax incentives, and access to the needed skills and technical expertise
- Long-term monitoring: Establishment of a European Digital Transition Observatory to track progress and evaluate the integration of disruptors into virtual ecosystems.
This workshop marked the beginning of a collaborative process to shape the future of virtual worlds in Europe. The outcomes aim to support the creation of a digital ecosystem aligned with European values by focusing on human-centric design, inclusivity, and sustainability. The insights generated will inform policy recommendations and a strategic roadmap, with future workshops set to build on this foundation by exploring governance, geopolitical dynamics, and implementation strategies. Through collective action and foresight, Europe can position itself as a leader in shaping an equitable and innovative digital future.