How XR can amplify the impact of purpose-driven initiatives

The Global Collaboration Village hosted its first all-virtual event on 11 June 2024, titled “Creating Value through XR.” The day’s goal was to showcase how XR technologies can address complex global challenges.

XR is an umbrella term that encompasses immersive technologies such as virtual reality (VR), augmented reality (AR) and mixed reality (MR), which blend the physical and digital worlds to create engaging and interactive experiences.

Participants from across the village’s growing community of over 140 village partners from public and private sector organizations engaged in pivotal discussions across multiple sessions, each highlighting the transformative power of XR in various domains.

Case studies have shown that learning retention via immersive learning is 75% more effective. Participants also declare themselves 275% more confident in applying skills learned in immersive settings when compared with traditional environments. Therefore, XR is more than an alternative; in some cases, it is a statistically superior solution, offering more engagement and efficacy.

In addition, around 89% of executives believe the metaverse will be pivotal to their organizations’ future growth.

Across the day, the sessions collectively illustrated the transformative impact of XR across various fields, showcasing its potential to drive innovative solutions and foster collaboration.

Arctic Basecamp, a non-profit organization raising awareness about climate change through scientific research and outreach, exemplified how you can leverage XR to communicate critical scientific data effectively. This session showcased how XR can create immersive experiences that make complex information more accessible and impactful. For Arctic Basecamp, using XR to create realistic experiences offers an ideal space to “speak science to power.”

The village provides an area where scientists can reach the world’s decision-makers through virtual meetings that provide concrete truths about polar degradation and its link to climate-related risks globally. In 2023/24, Arctic Basecamp curated the science inside the Village’s Climate Tipping Points Hub.

The team also showcased a VR experience on polar change in their physical expedition tent – an established feature outside Berghotel Schatzalp during the Annual Meeting in Davos, Switzerland, which it plans to expand in 2025, widening its reach so more audiences can experience polar science this way.

As one of the village’s five current partners with branded pavilions—a World Economic Forum first – Arctic Basecamp can effectively utilize this unique space to further its mission.

To better prepare for the widespread adoption of the Metaverse, INTERPOL launched the INTERPOL Metaverse in October 2022. The 11 June event at the Forum’s Global Collaboration Village showcased pioneering efforts in this immersive space at the INTERPOL Pavilion. During the event, the cross-border policing organization introduced its whitepaper, “Metaverse – A Law Enforcement Perspective,” which highlights the opportunities, threats and guidance for global law enforcement in the metaverse. Developed by the INTERPOL Metaverse Expert Group, the paper addresses emerging “Metacrime” and the complexities of virtual evidence handling.

The session discussed preserving virtual crime scenes for long-term analysis, enabling juries to visit crime scenes and fostering international law enforcement cooperation virtually. The whitepaper also identifies legal gaps in handling metaverse threats, such as avatar legal personas and data management. This event underscored XR’s potential to revolutionize law enforcement by enhancing collaboration, trust and effectiveness in the global security landscape.

AI is expected to have a huge impact on the global economy. Professional service firms estimate the potential impact of generative AI to be $2.5-4.1 trillion of value creation over the next three years. With its broad range of business applications, SAP, the enterprise software leader, is vital in realizing AI’s benefits.

AI will touch every area of an organization, from finance to supply chain, customer experience, procurement, and human rights. It will be embedded in every business application, providing contextualized insights into business processes and data, for example, to identify process improvements for greater efficiency. This is called “business AI.”

For SAP, business AI must be relevant (embedded in solutions), reliable (based on business data and process context) and responsible (with the greatest concern for security, privacy, compliance and ethics). These are the company’s guiding principles.

Each session provided insights into the technological applications of XR for confronting climate change, harnessing AI for business transformation, and enhancing security. It also reinforced the Forum’s commitment to fostering innovative dialogue and practical solutions through virtual reality’s collaborative potential. This event marked a significant step in using XR to facilitate purpose-driven global collaboration, drawing on the unique stories and successes of Forum partners.

The Global Collaboration Village extends the Forum. Using immersive technology, it empowers decision-makers to tackle challenges through co-presence, real-time interaction and dynamic visualization. Inside the village, a growing network of leaders learn, host, showcase and collaborate to amplify impact.

As we progress, the insights and collaborations generated during this event will continue to inspire and inform future initiatives. The Global Collaboration Village will continue exploring and harnessing XR’s full potential to create value and drive meaningful change. This event’s success is a testament to the power of innovative technologies in shaping a better, more sustainable, and secure future for all.

Creating Value through XR showcased the immense potential of XR in facilitating global solutions. The event highlighted how immersive technologies can bridge gaps, enhance understanding, and drive collective action to address complex global issues. This first all-virtual event is just the beginning of an exciting journey toward leveraging XR for global good.

The Global Collaboration Village is a World Economic Forum initiative, in partnership with Accenture and powered by Microsoft Mesh.