Europe’s Global Web4 Ambition: The Need for an ‘Airbus for the Metaverse’

LSE Consulting, a company associated with the London School of Economics and Political Science (LSE), has recently published a report outlining a strategy for Europe to establish dominance in the rapidly emerging Web 4.0 sector. The report suggests that creating an industrial conglomerate similar to Airbus, dedicated to fostering innovation and growth in the metaverse, is the best way for the European Union (EU) to compete with global leaders like the US and China. By leveraging Europe’s existing technological and economic potential, this conglomerate could potentially exploit opportunities in the metaverse.

Airbus, a multinational conglomerate formed by the merger of French, German, and Spanish aerospace companies in 2000, is relevant to the metaverse market because of its cross-border integration and focus on maintaining Europe’s dominance in the international aerospace industry. LSE Consulting’s report proposes adopting the Airbus model to position the EU as a leader in the Web 4.0 sector. The report suggests that an immersive industrial cluster in Europe would enhance specialized internet engineering expertise, and immersive technologies could make engineering and research education programs more appealing, with the support of national and regional governments.

The report highlights case studies from well-known European companies such as BMW, Ikea, Bosch Sensortec GmbH, Ericsson, and STMicroelectronics, which have found success in exploring metaverse technologies. Building on these successes, LSE Consulting presents three recommendations to advance the sector. Firstly, the report stresses the need for an international conglomerate, modeled after Airbus, to promote European innovation in the metaverse and effectively compete on a global scale. Secondly, LSE Consulting emphasizes the importance of prioritizing skills training to ensure that the European workforce is equipped to drive innovation in the metaverse. The report calls for government support in developing innovative cross-border solutions and standards for the adoption of metaverse technologies.

Michael Barngrover, the Managing Director at XR4Europe, commented that there are multiple viable paths for Europe to take in the metaverse sector, but he acknowledged that the recommendations presented by LSE’s researchers contribute to the ongoing discussions surrounding the necessary steps to be taken.