Europe's Path to Web 4.0 Dominance: LSE Consulting Proposes Airbus-Style Approach
Summary:
This article discusses a recent report by LSE Consulting which suggests that the best way for Europe to compete globally in the emerging Web 4.0 sector is to form an Airbus-style industrial conglomerate, dedicated to fostering innovation and growth in the metaverse. The report also recommends prioritizing skill-building training and seeking government backing for innovative cross-border solutions. The ideas are based on the study of techniques and successes of various notable European firms exploring metaverse technologies.
A study by LSE Consulting, a company operating under the umbrella of the London School of Economics and Political Science (LSE), proposed a strategy to elevate Europe as a leader in the evolving Web 4.0 sector. The experts argued that Europe's most promising approach to rival leading global players such as the U.S and China, and to leverage its existing technological and economic potential, is to establish an industrial conglomerate mirroring Airbus's design to drive innovation and expansion in the metaverse. Built in 2000, Airbus is an international conglomerate that resulted from a merger of aerospace corporations from France, Germany, and Spain. Two decades later, in 2019, it became the premier manufacturer of both airliners and helicopters globally. Airbus's relevance to the metaverse market, as per LSE Consulting, lies in its success as a cross-border enterprise dedicated to preserving Europe's supremacy in the global aerospace niche. The report advanced the idea that emulating Airbus's framework in the metaverse is likely to bolster the EU's status in the Web 4.0 phase. A thriving industrial cluster specialized in internet engineering will enhance Europe's competence. While regional governments must continue to back engineering and research education initiatives, immersive technologies can be deployed to enrich these programs. The study spotlighted several examples from notable European organizations such as BMW, Ikea, Bosch Sensortec GmbH, Ericsson, and STMicroelectronics. Based on the achievements of these institutions and others delving into metaverse technologies, LSE Consulting generated a threefold recommendation for the sector's progression. To begin with, the report suggested creating an international conglomerate - the Airbus model - dedicated to European innovation in the metaverse to compete on the global level. Secondly, the consultants endorsed an emphasis on skill-building training to equip the European workforce for creativity in the metaverse. Lastly, the report urged government backing for developing innovative cross-border responses to emerging obstacles and norms for adoption. Michael Barngrover, Managing Director at XR4Europe, noted that Europe has numerous feasible routes forward, and the recommendations proposed by the researchers at LSE might steer discussions on the strategies to explore.
Published At
4/28/2024 8:09:17 PM
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