How YGG Will Benefit From The Future Applications Of Machine Learning and AI
In this panel discussion, Beryl Li shares how Artificial Intelligence (AI) will play a role in the development of YGG and how it will be utilized
The Milken Institute Global Conference is an event that brings together individuals with the capital, power and influence to change the world and those whose expertise and creativity are rethinking health, finance, technology, philanthropy, industry, and media.
This year marks their 25th annual conference, where the event included a panel discussion themed “A Look into the Metaverse: Augmented and Virtual Reality,” that delves into the various applications of augmented and virtual reality technology and AI in the Metaverse.
The panel, which was moderated by crypto VC firm Wave Financial co-founder Les Borsai, is composed of industry leaders from different sectors of crypto. Joining Les are: founder of Chopra Foundation, Dr. Deepak Chopra, founder of extended reality consultancy The Collaboratorium, Kathleen Cohen, Drue Kataoka Art Studio founder, Drue Kataoka, venture fund Griffin Gaming Partners managing director, Peter Levin, and YGG co-founder, Beryl Li.
Together, they shared different points of view on the development of the Metaverse, virtual reality and augmented reality in their respective fields. Beryl also discusses how machine learning and AI will be applied in different parts of the Metaverse.
The following is an excerpt from the conference. Watch the full discussion here.
Les (41:49): Let's talk about machine learning and AI a little bit. Beryl, as you know, we continue to emerge and go deeper into the space. You're obviously building a lot with YGG and investing in a lot. How is AI going to play a role? How is machine learning going to play a role moving forward?
Beryl (42:10): One thing is really being able to automate the matching of assets like scholars, for example. When I say scholars, they are the gamers who are actually borrowing assets from Yield Guild Games, so that's one.
The second one would be once we actually have all these data points on players, for example, how many hours do they end up spending in the game? Which games are they involved in? Which in-game rewards do they earn? What are their activities on-chain and what wallets do they actually interact with?
Because of that, you're able to provide other forms of financial services to those people who are unbanked. These are mostly gamers in emerging markets. You're able to provide them other forms of uncollateralized loans, for example, insurance surfaces, and so on and so forth. And I think this is where AI and machine learning can actually come in handy.
Kathleen (43:17): Eric Schmidt in his talk yesterday — I don't know if anybody caught it — he said AI is emergent and precise and continually learning. Between now and 2045, this is the tool-building years of this. So how we're delivering against AI right now in the next five years, 10 years, in the next 25 years. And this evolution is really interesting. He was great yesterday.
Les (43:42): Let’s talk about the tools as well and how this is going to change. I mean, obviously, a lot of what we're talking about, you know, it was built from Steam and Unreal, engines like that. And we talked a lot about gaming, but let's talk about some other applications that will emerge in this world.
Peter (44:12): Some of the exciting things are: tourism, real estate, telemedicine and e-learning. When you look at events like this, the ability for folks who can't afford that type of an experience or geographically it's untenable to be able to have an experience there to get in, that's where it gets very exciting.
Commercially, if you look back in the day with Xbox and Xbox Live when they started porting on other apps that you could engage while on their platform — Netflix being one of them — the whole thesis behind that was, “Why are we sending people off our platform to go enjoy media form factors on someone else's platform?” Because the reacquisition costs of bringing them back is incredibly expensive. It's almost cost-prohibitive.
I think that was kind of a predecessor to a lot of what we're seeing now, but I think some of these other areas will also be part and parcel of this larger stitching together of these very immersive worlds. People are going to want to have a more passive, benign experience, and the people are going to want to get up there and get after it. I think that's a wide spectrum and there's a lot to be done top to bottom.
You can watch the full discussion on Vimeo.