'You're always going to have the big social network, consumer play ... but industrial is big,' Qualcomm CEO Cristiano Amon told CNBC's Jim Cramer.
"You're always going to have the big social network, consumer play. You're going to have a big one for gaming, but industrial is big," contended Amon. He said that underscores the importance of Qualcomm's partnership with Microsoft, which uses Qualcomm's chips in its mixed reality smart glasses.
Discussion of the metaverse has surged in recent months, thanks in large part to social media giant Facebook changing its name to Meta Platforms and announcing a major investments to build out interactive, immersive virtual worlds. That put the metaverse concept, which had been around in science-fiction circles for decades, firmly on Wall Street's radar.
Amon stressed that its potential goes beyond recreational and social uses. The reason for that is because cloud computing adoption is stretching across the enterprise landscape, he said. "With the cloud economy we have right now, with everything connected to the cloud, we have digital twins of everything. You can have a digital twin of a car, for example," Amon said.
"When the car shows up at the dealership and somebody is going to look under the hood, they can put a virtual reality, augmented reality device, and it will tell you from the digital twin in the cloud, where to fix it, where's the problem," he said, adding that it can be used for worker training, too.
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