Will ChatGPT and AI reignite China’s metaverse?

23 Jun 2023

With tech giants like Meta shuttering their metaverse divisions in favor of artificial intelligence (AI) efforts — despite arguing that the metaverse will remain its primary product — spectators are convinced that the previously feted virtual ecosystem has been knocked off its internet throne by the AI gold rush.

The lucrative potential of AI has attracted a flurry of investors and adopters over the first half of this year. OpenAI’s ChatGPT set the record for the fastest growing user-base application in history, after reaching 100 million active users in January. Meanwhile, the artificial intelligence market is projected to see an annual growth rate of 37.3% from 2023 to 2030, climbing to a value of over $1.5 trillion, according to Forbes.