Metaverse Hype Fades as AI Takes Center Stage
• Advertising firm Publicis appointed a digital avatar named Leon as chief metaverse officer in 2022, but he was quickly forgotten after ChatGPT debuted and AI became the hot new thing.
• Many executives leading metaverse efforts have left or switched roles, while businesses scramble to appoint high-paid AI leaders instead.
• The metaverse hype has faded, with the word barely mentioned in recent earnings calls compared to a year ago when CEOs were eager to pursue it.
• Even some former metaverse chiefs like Coke's Pratik Thakar have reinvented themselves as AI experts to stay relevant.
• Companies are losing interest in hiring dedicated metaverse executives and may just use consultants if they still want to explore uses.