Former Google CEO Eric Schmidt not sure how metaverse will affect people’s lives

Former Google CEO Eric Schmidt not sure how metaverse will affect people's lives

Former Google CEO Eric Schmidt has said the metaverse concept is unclear and how it will affect people’s lives in the future. Metaverse has been a buzzword for some time now, with big guns like Meta, Microsoft, and other tech companies forming Metaverse Standards Forum to establish interoperability standards.

Eric Schmidt was the Google CEO from 2001 to 2011 before taking the role of executive chairman at Alphabet from 2015-2017 and Technical Advisor from 2017-2020.

Speaking at Aspen Ideas Festival in Colorado, USA, Schmidt questioned the adoption of a metaverse in the future. Schmidt took a dig at social media giants Meta for changing its name in “anticipation” of defining the metaverse concept.

“There’s not an agreement on what the metaverse is, even though one company has changed its name in anticipation of defining it,” Schmidt said.

The former Google CEO has also said he is not too excited about bui=yinhf real estate in the metaverse.

“I’m not worried about buying large swaths of private real estate in the metaverse myself. It’s not a concern I have every day,” he said.

What is Metaverse?

Metaverse is widely defined as a virtual world where people can socialize, work and play, giving an immersive experience. In the metaverse, humans will be replaced by avatars, allowing them to connect in the same place without any geographical constraints.

Metaverse will create an environment where employees can engage, share ideas, attend team meetings, and even meet over a cup of virtual coffee. This environment is perceived through the integration of virtual reality, augmented reality, and mixed reality.

Tech companies, including Meta and Apple, have heavily invested in metaverse technology. Apple CEO Tim Cook recently revealed the company’s plans to enter the Augmented Reality (AR) and Virtual Reality (VR) space.

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