Qualcomm sees great potential in the metaverse

During a CNBC interview on Thursday, Qualcomm CEO Cristiano Amon said the company views the so-called metaverse as more than just social media’s next frontier. A day after the company released its first-quarter results, Amon said in an interview on “Mad Money”. That the metaverse would offer a number of opportunities.

“You’re always going to have the big social network, consumer play. You’re going to have a big one for gaming, but industrial is big,” contended Amon. The partnership between Qualcomm and Microsoft, which uses Qualcomm’s chips in its mixed reality smart glasses, emphasizes Qualcomm’s importance, he said.

Social media giant Facebook took on the name Meta Platforms. While announcing a major investment in building interactive, immersive virtual worlds in recent months, generating considerable discussion of the metaverse. The metaverse concept has long been a part of science-fiction circles. Which became firmly embedded on Wall Street as a result.

More versatility available

The system has far more potential than social and recreational activities, according to Amon. Cloud computing is becoming increasingly popular among businesses, he says. We have digital twins of everything right now with the cloud economy we have. A digital twin could be created of a car, for instance, Amon said.

The dealer can use it when somebody wants to look under the hood of a car. And the digital twin in the cloud will tell them where to fix it, where the problem is, he said, adding that it can serve for employee training.

According to Amon’s comments, the metaverse has the same vision as Nvidia CEO Jensen Huang. During an interview with Cramer on “Mad Money” in November, Huang explained that companies invest in the metaverse so that they can run simulations that save the companies real money.

Using that method, we could decrease the amount of waste, which is why business economics are so good for corporations, Huang said. It costs them a small amount of money to incorporate artificial intelligence capabilities. But they hope to save hundreds, hundreds, and hundreds of billions of dollars as a result.

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