Some technologies have us riding the high of their peak, while others leave us disillusioned in the valley. With new developments emerging daily across various deep technologies, it’s becoming increasingly difficult to differentiate between what’s a “nice to have” and what truly delivers practical utility and positive impact. In this article, I’ll explore the latest trends in these technologies as we approach the summer.

Recently, I discussed the practical applications of the metaverse, AI, and crypto with a journalist. It’s nearly impossible to keep up with all the developments and separate the “signals” from the “noise.” Take blockchain, for instance—within one of its top 10 trends, there are another 10 developments, such as tokenization, NFTs, RWAs, and Soulbound Tokens. Similarly, AI already boasts over 12,000 innovative tools.

While technologies like AI and robotics seem groundbreaking today, they’ve been around since the 1950s. However, several key events in recent years have accelerated their development:

  • The world’s increasing digitization, accelerated by the pandemic, has made people more open to new digital experiences.
  • Massive public and private sector investments have driven faster adoption. Central banks’ monetary policies during the pandemic funneled unprecedented funds into startups and established businesses.
  • Global internet and mobile connectivity now reach an additional 3 billion people compared to a decade ago.
  • Stories of crypto market success, AI breakthroughs like ChatGPT, and corporate visions for a 3D metaverse future have fueled public enthusiasm.
  • Advances in data availability and computing power have exponentially boosted AI and machine learning development.
  • Improvements in VR and AR have made the concept of the metaverse more tangible and appealing for both consumers and businesses.

The tone of discussions at events I’ve attended, hosted, or spoken at has shifted significantly over the past year. Futuristic visions are giving way to conversations about practical use cases and real-world impact. The hype is fading, making room for focus on opportunities and meaningful advancements.

Metaverse

From Hype to Practical Use

The metaverse is poised to supercharge the next industrial revolution. According to the World Economic Forum, 92% of surveyed companies have either adopted or are actively working with metaverse technologies. The convergence with AI is accelerating developments and increasing interest in practical applications.

At a recent deep-tech event I hosted at the High Tech Campus, companies like Meta, Pfizer, and Philips showcased their innovative metaverse projects. Philips demonstrated virtual environments used by hospitals to improve healthcare delivery, while Meta highlighted the use of these tools for educational purposes.

Apple’s Vision Pro and B2B Adoption

Despite initial hype, Apple’s Vision Pro headset faced setbacks, with production halved and a cheaper model in development. Critics cite this as evidence of the metaverse’s decline. However, World Economic Forum research underscores that metaverse adoption is currently B2B-driven. For example:

  • KLM: Virtual twins reduce costly aircraft maintenance errors.
  • Porsche: Headsets are used in car design and prototyping.

Companies buy headsets for specific applications, not widespread use, skewing sales data and fueling misconceptions about the technology’s adoption.

Recent Developments

Google has reignited its metaverse ambitions, partnering with a VR headset supplier, while Microsoft launched “Windows Volumetric Apps” to integrate headsets with Windows applications. Meta has shifted its focus to virtual classrooms, where studies show students perform better than in traditional settings.

Convergence: The Future of Technology

The next big step is the convergence of these technologies, amplifying their collective power. Examples include:

  • AI and blockchain: AI audits blockchain code for errors.
  • IoT and AI: IoT sensors generate big data that AI analyzes to autonomously manage tasks like crop irrigation using drones.

AI and Blockchain/Crypto

The convergence of AI and blockchain is particularly noteworthy:

  • Blockchain enhances transparency and decentralization for AI systems.
  • Smart contracts automate and impartially execute AI processes.
  • Cryptographic techniques protect user data, addressing privacy concerns.

Notable initiatives include the Superintelligence Alliance formed by Fetch.ai, SingularityNET, and Ocean Protocol, collectively worth $7.5 billion. These projects aim to democratize data access and AI development.

European Union’s Digital Push

The EU is advancing rapidly with initiatives like the Digital Product Passport (DPP), a blockchain-powered “digital ID” for products that tracks origin, materials, and lifespan. Luxury brands like Louis Vuitton, Dior, and Hennessy use blockchain to certify authenticity, reduce counterfeiting, and build customer trust.

Crypto and Stablecoins

The crypto industry is rebounding, driven by:

  • Technological advancements: Innovations like Decentralized Physical Infrastructure Networks (DePin).
  • Investor interest: KPMG reports that 40% of institutional investors now have crypto exposure.

Traditional companies are embracing crypto:

  • Vodafone: Plans to integrate crypto wallets into SIM cards.
  • T-Mobile: Offers monthly Bitcoin cashback.
  • Telegram: Its new wallet simplifies crypto transactions for 900 million users and supports over 700 apps.

NFTs and Tokenization

While the hype around NFTs has subsided, their underlying technology continues to transform industries. Tokenization of real-world assets (RWAs) is on the rise, with applications in real estate, carbon credits, and beyond. For example, Dutch startup Carbify has planted over a million Amazon trees and uses blockchain to certify carbon offsets.

The Journey Ahead

As this blog goes live, new developments are already emerging. We’re at the dawn of an era where blockchain, AI, the metaverse, and other deep technologies will fundamentally reshape our world. The speed and scope of these advancements are unprecedented, offering endless possibilities to transform how we live, work, and interact.