🕶️ How to Innovate Responsibly in XR

Merry Christmas to you all!

Grab your headsets and hold on tight - the VR market might be in a slump, but it's far from game over. Despite Meta's mega investments, U.S. sales have nosedived, challenging Zuckerberg's metaverse dreams. Let's dive into what's behind the virtual reality rollercoaster. 🎢

Today’s Topics:

• 📉 The Struggle of the VR Market

• 🥊 The Battle of Smartglasses 🕶️, Meta vs Amazon

• 🚀 Finally a Guideline for Responsible Innovation in XR

Reading time: 6min

📉 The Struggle of the VR Market

Despite Meta's billion-dollar quarterly investments in the metaverse 🌐, the VR market is facing a downturn. U.S. sales of VR and AR gadgets 🕶️ have plunged by nearly 40% from $1.1 billion last year to $664 million in 2023. This decline challenges Meta's mission to mainstream immersive technology, a task proving more arduous than anticipated.

The Details:

• Reality Labs, Meta’s VR/AR division, recorded a $3.7 billion loss in Q3, with total losses nearing $25 billion 💸 since 2022. Despite the setbacks, Meta released Quest 3 VR in October, hoping to attract developers and users with augmented reality features.

• Sony's PlayStation VR2 hasn’t significantly impacted the market. The overall industry struggles with a lack of groundbreaking content 🚫 and new device excitement.

• A silver lining - VR headset sales in the U.S. jumped 42% during October and November, hinting at potential holiday market revival ⭐.

• Apple's upcoming Vision Pro mixed-reality headset at $3,499 could redefine the market in 2024, sparking both excitement and competition.

Our Thoughts: Meta's VR venture represents a bold leap into future tech, but the journey is fraught with hurdles. The VR market needs a 'killer app' or breakthrough content 🚀 to truly resonate with the mainstream. With Apple entering the fray, 2024 might be the year we see significant shifts in the VR landscape, potentially reshaping Meta's strategies and the industry as a whole.

If you are interested in the topic read more here.

🥊 The Battle of Smartglasses 🕶️, Meta vs Amazon

In the battle of smartglasses, Amazon's Echo Frames 3 faces off against the Ray-Ban Meta. With a decade since Google Glass 👓 first appeared, smartglasses have had a bumpy ride. Echo Frames 3, focusing on audio, lack video capture unlike Ray-Ban Meta's social media-savvy approach. Let's dive into the details.

The Details:

• Echo Frames 3: Focused on audio capabilities, these glasses lack video capture to prioritize privacy 🚫📹. They feature temple speakers for situational awareness but offer mediocre sound quality. The main appeal lies in their Echo functionality, allowing hands-free voice assistant access.

• The Echo Frames come in five styles and can be customized with prescription lenses or sunglasses 🕶️. Their design is functional but lacks the style finesse of competitors.

• With moderate use, a 14-hour battery life 🔋 is decent; however, the charging mechanism is less user-friendly compared to the sleek charging case of Metas Ray-Ban.

• Priced at $270, they are more affordable than the Ray-Bans, and are currently available at a discounted price of $200 on Amazon 🛍️.

Our Thoughts: While Echo Frames 3 bring the Echo functionality into a portable format, they fall short in terms of audio quality and design compared to Ray-Ban Meta. If choosing between the two, the extra $30 for Ray-Ban Meta seems a worthwhile investment, especially for those prioritizing content capture and design elegance. However, for dedicated Amazon users, the Echo Frames 3 at the current discount offer a more budget-friendly entry into smartglasses.

Check the full comparison here.

🚀 Finally a Guideline for Responsible Innovation in XR

🚀 Metaverse Memo: FPF's XR Data Framework & Global AI Developments 

Big news in the XR world 🌐 as the Future of Privacy Forum (FPF) launches a comprehensive framework for biometric data in immersive tech 🤖. This guidebook is a game-changer for organizations navigating the complex waters of biometric data in XR environments. Plus, with global AI regulations evolving rapidly, we're seeing a paradigm shift in data privacy and AI ethics.

The Details:

• The FPF’s Risk Framework outlines best practices for handling sensitive biometric data 📚. It's a toolkit for entities that rely heavily on immersive tech.

• The framework's multi-stage approach includes creating data maps, ensuring legal compliance, assessing risks, and implementing robust safety practices. It's a holistic strategy for managing data sensitively and ethically ⚖️.

• The EU 🇪🇺 is pushing forward with its AI Act, aiming for a safer AI environment. Meanwhile, the Biden-Harris administration in the US 🇺🇸 has introduced an executive order to regulate AI, impacting both government and private sectors.

• Hosted at Bletchley Park, the summit brought together top minds to discuss AI safety and regulatory frameworks, highlighting the global focus on AI governance.

Our Thoughts: We're witnessing a pivotal moment in tech history. As the digital and physical worlds intertwine more closely, the importance of safeguarding our digital selves escalates 🛡️. The FPF’s framework is not just a set of guidelines; it's a beacon for responsible innovation in XR. With global powers like the EU and US steering the AI regulation ship, we're heading towards a more secure, ethical digital future. And let's not forget the UK's proactive stance on AI safety – it's a reminder that collaboration is key in this global tech evolution.

If you want to learn more about this complex topic, check out this tweet: