World Economic Forum to Launch Metaverse for Strong Public-Private Cooperation

The World Economic Forum (WEF) announced on Monday that it is collaborating with Accenture and Microsoft to build a "Global Collaboration Village" as the virtual future of public-private cooperation.

The WEF's existing platforms and in-person gatherings will be supplemented by the Global Collaboration Village. It will allow stakeholders to come together in a more "comprehensive" way. Klaus Schwab, the World Economic Forum Executive Chairman, said the metaverse will influence how people, governments, and companies “think, work, interact, and communicate.”

“The Global Collaboration Village will be an extension of the World Economic Forum’s public-private platforms and in-person meetings and will provide a more open, more sustained, and more comprehensive process for coming together," said Klaus Schwab.

The Global Collaboration Village has a Web3 goal: to explore alternate futures and think about ideas in an immersive approach. In its launch, the World Economic Forum elaborated on the Global Collaboration Village's four main goals: global cooperation, interactivity, inclusivity, and impact.

Accenture's Chair and CEO, Julie Sweet, was enthusiastic about the project. She believes the metaverse has "a lot of potential" for forming effective public-private collaborations. The metaverse, in her opinion, has the ability to alter how organizations interact and function.

In addition, the World Economic Forum announced the initiation of a project to define the metaverse. For this effort, the WEF is collaborating with 60 enterprises to establish metaverse governance and policy frameworks.