“I Haven’t Seen This Level Of Excitement Since The First iPhone”

Fateh Amroune, Director of Innovation at Deloitte Luxembourg (Photo © Deloitte Luxembourg)

In the context of Deloitte’s first-ever Metaverse Month, Silicon Luxembourg caught up with its Director of Innovation, Fateh Amroune. He demystifies and excites us about the coming Metaverse.

There are a lot of converging elements that pushed us to organize this event. The first one is a substantial leap forward in the metrics of key technologies. Many technologies – 5G, cloud computing, blockchain, VR/AR, and NFTs – are simultaneously moving from their infancy to a new stage of development.

The other big element in our decision is that many giant tech players are investing billions of dollars into these technologies and launching new products around these technologies.

Both this increased maturity and positioning of tech companies are generating a lot of public and media interest. However, many are still learning about these emerging concepts and how they can be used, so we have decided to launch a Metaverse Month to demystify some of these topics.

Everyone is talking about the metaverse but for many people, it’s still an abstract reality or even a joke. What convinces you that it is not just overblown hype?

Personally, I think that the metaverse is the future. History of technology shows us that every time so many technologies appear at the same time, something exciting is about to happen. This moment feels comparable to the late 1990s and early 2000s when many initiatives failed, but this era also produced the internet, which completely revolutionized our way of life. I haven’t seen this level of excitement since the first iPhone.

“The metaverse is a platform that makes the most of an umbrella of new technologies that will culminate in a new conception of internet.”

Fateh Amroune, Director of Innovation at Deloitte Luxembourg

Although the metaverse is still in its early phases you state that businesses can “take advantage of the exponential growth in digital economies”. How?

I would say that there are two blocks of companies that can already benefit from investing in the metaverse today. Companies with strong branding have already been able to make things happen in the metaverse through strategic investments.

I’m talking about luxury companies and sports companies – really any company that invests a lot in their image. Additionally, companies that work in training and collaboration tools also stand to benefit from investing sooner rather than later.

Your event aims to “demystify the Metaverse”. What are some common misconceptions people have about it?

Firstly, people think it’s complex and hard to understand and something that is just for geeks. Secondly, many think it’s about illegal activities and that the dark web and bad guys using it for money laundering. Lastly, many think it’s just about gaming and entertainment because this is a user group that was early champion of the Metaverse. But at the end of the day, I really want people to understand that the Metaverse is just a normal evolution of technology, and that anyone or any business is welcome to participate.

When do you expect the metaverse to be part of most people’s daily lives?

Some think that the metaverse will reach a true maturity level around 2031, roughly ten years from now. It’s a bit like the Bill Gates quote: “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten years.” We expect it to be exactly like that.

What does the metaverse mean to you personally? How do you conceive of it?

To me, the metaverse is a platform that makes the most of an umbrella of new technologies that will culminate in a new conception of internet. We will enter a new era where the metaverse will be like the 3D model of the internet. For me, it really is like a green field.

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