Telefonica's CEO Believes in the Future of the Metaverse
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Recently, José María Álvarez-Pallete, chairman of Telefónica, addressed the company’s Annual General Shareholders Meeting and made it clear that the current situation represents one of the greatest technological shifts in history: “the greatest era of change in human history, with more technology accumulation than any other generation has ever had.”
“The metaverse will provoke a deeper change than the arrival of the Internet,” declared the Telefónica CEO.
Words such as “metaverse” or “Web3” have emerged in a short time, aided by the exceptional circumstances of COVID-19, and they appear poised to spark a revolution in which the Internet evolves from two dimensions into three. A clear example is companies like Samsung, which already stake their place in this three-dimensional internet, investing firmly in digitalization.
This investment by companies like Telefónica is growing because data traffic has multiplied tenfold in recent years, shifting from voice services toward metaverse and artificial intelligence.
Thus, all companies that bet on these new technologies may secure a market share that undoubtedly offers a comparative advantage.
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