CIGI Papers No. 289 — March 2024 - Facing Reality

It was the first nation in the have a significant impact on the lives of Canadians world to publish a national AI strategy.5 The and the operations of Canadian businesses.”9 Canadian government also understood early on the importance of trust to the digital economy, Moreover, as the OECD notes, “as a general-purpose and put forward a Digital Charter, designed “to technology, AI enables and support. [...] The confluence of several trends, including direct more attention and funds toward a key the increasing migration of socio-economic activities to the Internet and XR application: digital twins (digital models of the decline in the cost of data collection, storage and processing, are leading to the generation and use of huge volumes of data — commonly people and/or objects) (GAO 2023). [...] tracking, which also helps to accurately display digital content relative to the physical world.12 For example, the US Food and Drug Administration (FDA) has approved the marketing and use of The components, infrastructures and technologies some VR and MR devices that can be used for that underpin XR — and their co-evolution — pain management, psychological treatment and illuminate the power of in. [...] In addition, US researchers the Institute for Electrical and Electronics Engineers created the first digital twins, and the United (IEEE) have held conferences to specifically address States was the first nation to use digital twins research at the intersection of XR and AI.14 in manufacturing (what some call Industry 4.0, or the industrial metaverse) (Miskinis 2019). [...] Policy current data and technology governance makers could build on the work of the United can evolve to meet the challenges of current Kingdom, which views digital twins as essential platform business models and the scale and infrastructure for future economic growth and scope of data utilized by immersive platforms.