XR for Business at the Ritossa Family Office Summit

Published: Dec. 19, 2019, 9:40 a.m.

b'In between your regularly-scheduled\\nXR for Businesses episodes, Alan has a brief update and recap of his\\nrecent trip to the Ritossa Family Office Summit in Dubai\\n\\n\\n\\n\\n\\n\\n\\nHey there, it\\u2019s Alan Smithson with the\\nXR for Business Podcast. And today\\u2019s episode is a very special recap\\nof a conference that I just spent two days at, called the Ritossa\\nFamily Office Summit. This is a gathering of elite family offices, a\\ntotal of 600 prominent business owners, sheiks, royal families,\\nprivate investment companies, and international business people,\\ngetting together to discuss the future of investing. Now, to put it\\nin perspective, the people that attend this represent about\\n$4.5-trillion in investable wealth. And this conference is the\\nworld\\u2019s largest and most exclusive gathering of elite family office\\ndecision makers.\\n\\n\\n\\nThis year\\u2019s topic was \\u201cEast Meets\\nWest\\u201d, and the theme of Dubai summit will act as a bridge\\nbetween Middle East families and their European, Asian, US, and Latin\\nAmerican counterparts. This was an amazing experience for us. We were\\nthere as a vendor. We were the only company there bringing virtual\\nand augmented reality to these people. And the interest level around\\nvirtual and augmented reality was insane. People were asking all\\nsorts of questions, \\u201cHow long is this going to take? What is the\\nroadmap now? Who\\u2019s using it? What companies are doing it? How can we\\ninvolve our company portfolios in this?\\u201d \\n\\n\\n\\n\\nAnd really, we came at this from a\\ntraining standpoint. Virtual and augmented reality training is the\\nmost effective, efficient training solutions we\\u2019ve ever created as\\nhumans. Everything from being able to track where the user\\u2019s looking,\\nto their biometrics, their heart rate, all of these things combined\\ncreate what we are hoping will be the future of all education and\\ntraining. And at MetaVRse, what we\\u2019re really focusing on now is\\nbuilding out a platform marketplace to help businesses navigate the\\ntechnology, figure out what technology works best for the needs of\\ntheir employees.\\n\\n\\n\\nBecause as we enter into this kind of\\nage of exponential growth, what we\\u2019re seeing now is a massive change\\nin how we work. Over the next three years alone, IBM estimates that\\nover 120 million people will need to be reskilled and retrained due\\nto AI and automation. And from a strictly monetizable standpoint, PWC\\n\\u2014 the global conglomerate \\u2014 they\\u2019ve just earmarked $3-billion to\\nreskill, upskill, and retrain their staff.\\n\\n\\n\\nAI and robotics and automation are\\ncoming faster than we can possibly think about. And virtual and\\naugmented reality give us this kind of unique perspective as to how\\nwe can train people in a way that is easier, faster, more efficient.\\nAnd I think we\\u2019re going to need that as we enter into exponential\\ngrowth.\\n\\n\\n\\nBack to the Dubai summit. First of all,\\nI want to say a huge thank you to Anthony Ritossa \\u2014 the host of the\\nsummit \\u2014 who brought together these incredible people. It was under\\nthe patronage of His Highness, Sheikh Ahmed Al Maktoum, the ruler and\\nprime minister of Dubai, and the ruling family. And it was really\\namazing to meet their chief investment officer, Mohammed Al Ali \\u2014\\nwho actually today is being knighted in London \\u2014 and he is the CEO\\nand advisor of their International Investments Enterprise. We met\\nwith Adam, the judge from the private office of His Highness, Sheikh\\nHamdan bin Mohammed Al Nahyan. We met with Faris, and his team from\\nthe office of Sheikh Sultan Bin Abdullah Al Qasimi.Qasimi.\\n\\n\\n\\nAnd all of these sheikhs represent\\nfamily offices from different parts of the UAE. You have Dubai, you\\nhave Sharjah, you have Abu Dhabi, and all of these different\\nemirates. There\\u2019s investments where they\\u2019re looking not just to\\ninvest in oil and gas and these things, they\\u2019re really looking\\ntowards investing in world cha'