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| Hey Insiders, 📰 In today's issue, we cover Saudi Arabia investing in the video game industry, the global eSports market, Digital Twins shaping renewable energy, and more. ⏬ Scroll down for some quick hits and upcoming events. 👂 We want to hear from you — let us know what other content you'd like to see in future issues. Vildana
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| 1 | | Saudi Arabia invests heavily in the $180B-a-year video game industry, aiming to transform the kingdom into a global gaming hub by 2030. The nation's sovereign wealth fund has allocated nearly $40B to achieve this vision, marking a significant shift in the country's economic focus from oil to entertainment. More: - Last September, Saudi Arabia established a conglomerate to become the "ultimate global hub" for games and esports by 2030.
- An avid gamer, Crown Prince Mohammed bin Salman views this initiative as part of the Vision 2030 plan to diversify the kingdom's economy.
- The Savvy Games Group, owned by Saudi Arabia's $700B Public Investment Fund, plans to invest $39B in the gaming industry to establish 250 local companies and create 39,000 jobs in the next seven years.
- With 3.2 billion players worldwide, the gaming industry generated $184.4B in revenues in 2022, surpassing the combined earnings of the global box office, music streaming, album sales, and the top five wealthiest sports leagues.
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| 3 | | Digital twins, a growing technology in data science, are becoming integral in the renewable energy sector, offering enhanced efficiency, cost reduction, and sustainability. These virtual replicas of physical systems provide real-time data and insights, proving invaluable for simulating renewable energy assets like wind turbines and solar panels. More: - Digital twins can simulate renewable energy assets like wind turbines and solar panels.
- One major advantage of digital twins is their predictive capability, such as forecasting when a wind turbine might fail based on weather conditions.
- For solar panels, digital twins can simulate environmental conditions to predict performance, aiding in adjustments for maximum energy generation.
- Beyond individual systems, digital twins can be used to simulate entire cities or regions, assisting policymakers in energy infrastructure planning.
- Despite its potential, adopting digital twins faces challenges like significant investment needs and concerns over data privacy.
Zoom Out: - According to McKinsey, consumer electronics manufacturers have significantly improved sustainability by using digital twins, reducing scrap waste by approximately 20%.
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| 4 | | The global extended reality (XR) market, encompassing AR, VR, and MR, is projected to surpass $100B by 2026. This growth indicates XR technologies' increasing adoption and potential across various industries. More: - VR is anticipated to have a compound annual growth rate (CAGR) of 28% annually, with sectors like oil, gas, and manufacturing propelling this growth.
- AR is predicted to have a remarkable CAGR of 51% by 2030.
- The global pandemic accelerated the adoption of AR, revolutionizing work methods.
- Companies utilizing AR have reported an average productivity boost of 32% and a 46% reduction in task times.
- AR facilitates real-time collaboration for remote teams, enhancing co-working experiences irrespective of geographical location.
- In 2023, tech giants Apple and Meta introduced their VR headsets, signaling a competitive and evolving XR tech landscape.
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| 5 | | Apple's Vision Pro Developer Kit (DK) has stringent terms and conditions for developers. The tech giant has set strict guidelines for using and storing the Vision Pro headset, emphasizing security and privacy. More: - The terms and conditions mandate that the Vision Pro should never be moved from its registered address and must always be attended to when used.
- DK must be used in a private, secure workspace accessible only to authorized developers.
- Unauthorized individuals, including family and friends, cannot access, view, or handle the DK.
- DK must always be in the direct line of sight of the user.
- The DK should be stored in its locked Pelican case in a secure location when not in use.
- Developers are prohibited from displaying, demonstrating, or photographing the DK, and cannot run benchmark tests or competitive analysis.
Zoom Out: - Apple also holds Vision Pro developer labs in Cupertino, London, Munich, Shanghai, Singapore, and Tokyo, which you can apply to on Apple's website.
- Apple this week released the second visionOS beta.
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| 6 | | European projects utilize 3D models and VR to strengthen the connection between the public and underwater cultural heritage. These initiatives aim to make submerged archaeological sites more accessible and understandable to the general public. More: - Europe's underwater heritage includes ancient shipwrecks and submerged cities, which remain largely unseen.
- The Isole Tremiti in Italy's Adriatic Sea attracts 100,000 tourists annually, many unaware of the submerged archaeological sites.
- The project team is creating a 3D model of 'Lombardo,' a 19th-century steamship associated with Giuseppe Garibaldi.
- Photogrammetry, involving a series of still shots, generates these detailed 3D models.
- In Malta, the CORALLO project uses technology to promote eco-tourism, emphasizing marine biodiversity and sustainable activities.
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| 7 | | QUICK HITS - Invest in Virtuix before they ship their VR treadmills to their waitlist, a $100M opportunity. This opportunity ends on 8/10.*
- Meta is improving the spatial audio of Meta Quest; a new HRTF model enables a more realistic and natural 3D audio experience.
- Microsoft will deploy an upgraded version of its dormant HoloLens 2 headset for U.S. Army soldiers.
- Axiom Holographics opens an AR zoo built around a much larger version of Euclideon's multi-viewpoint 3D display tables and Unlimited Detail graphics engine.
- Discover how collagen helps reduce loose skin, deep wrinkles, and dark spots.*
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