EU Official Vestager Points to Metaverse and ChatGPT

MetaversePlanet March 12, 2023Last Updated: August 14, 2024

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EU Commission Vice-President Margrethe Vestager has advocated for a concentrated focus on the implications of technologies like the metaverse and ChatGPT.

Delivering a speech on competition policy at the Keystone Conference, Vestager emphasized the necessity to anticipate and strategize for the impacts of technological advancements. In her address, the spotlight was on the metaverse and ChatGPT.

Vestager contended that the development and ramifications of these technologies warrant increased attention.

EU Commission Vice-President Focuses Metaverse and ChatGPT

EU Official Vestager Points to Metaverse and ChatGPT

European Commission Vice President Margrethe Vestager has highlighted the need for scrutiny on the evolving landscape of technological advancements, including the metaverse and ChatGPT.

Technologies are increasingly becoming integral to daily life, beginning with the rise of cryptocurrencies, which have caught the attention of nations. The metaverse, a key sector within the cryptocurrency industry, continues to attract institutional involvement, enhancing its popularity. Moreover, artificial intelligence represents the latest trend, experiencing significant breakthroughs. ChatGPT, in particular, has emerged as a pioneering step in artificial intelligence, showcasing its potential within the cryptocurrency sector.

In this context, Vestager addressed the impact of digital transformation and the shift towards a digital economy on the public. She pointed out that current legislation is not keeping pace with these technological advances, stating:

“It’s high time we began to question what healthy competition should look like in the Metaverse or how innovations like ChatGPT might alter the landscape.”

Furthermore, the Vice President announced that starting from May 2023, the EU Commission will undertake antitrust investigations.