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Six Benefits that the Metaverse Offers to Colleges and Universities

Even though it’s unclear what exactly the metaverse is and whether it even exists, colleges and universities have jumped onto the metaverse bandwagon. They have augmented in-person and remote video learning with features such as gamified interactive virtual worlds, virtual reality and mixed reality.

In one of the largest efforts thus far, 10 U.S. colleges and universities have teamed up with U.S. technology company Meta and Irish virtual reality platform Engage to create 3D digital versions of their campuses, known as a metaversity. Students will engage in learning wearing immersive virtual reality headsets.

In my recent research, I have examined the metaverse and how it affects organizations and societies. I see six benefits that the metaverse offers to colleges.

1. Makes educational resources affordable

Colleges are facing budget constraints and lack access to resources necessary for learning. The metaverse can help them overcome such constraints.

For example, Nashville, Tennessee-based Fisk University hasn’t purchased cadavers due to high costs and maintenance challenges. The university is enhancing its pre-med program with virtual reality cadavers, which are a more affordable alternative.

In the virtual reality lab, a human heart can be pulled out from a cadaver’s chest cavity. It creates the sense that students can feel the weight of the heart in their hands and examine it. They can enlarge it. The class sees and touches the ventricle walls. Students can compare different hearts to understand the results of health decisions that humans made when they were alive. They engage in discussion and agree on the correct diagnosis.

Fisk University is using virtual cadavers for its pre-med program. Fisk University

Virtual cadavers don’t degrade and are easy to maintain. Additional features, such as surgical procedures and comparative learning between humans and animals, can be added over time.

2. Enhances student performance

Virtual training provides an effective means of visually demonstrating concepts with step-by-step instructions to illustrate tasks. They provide opportunities for learning by doing. Immersion in games can increase  engagement in learning activities.

Atlanta’s Morehouse College has piloted a metaversity that involves courses in world history, biology and chemistry. The college found that virtual reality classes increased student satisfaction, engagement and achievement compared to traditional and online formats and increased students’ academic performance. For instance, the virtual reality world history class had a 10% increase in students’ GPAs compared with the same class taught via Zoom and face-to-face the year before.

3. Makes virtual interactions more like real ones

The internet performs well for sending emails, spreadsheets and PDFs from one device to another to be reviewed or modified independently and asynchronously. It wasn’t built for person-to-person type live and interactive experiences, especially with many participants. Likewise, virtual spaces such as Zoom mostly allow a single conversation. In physical events, participants can move fluidly from one conversation to another.

Some universities are using metaverse technologies to overcome limitations of the internet and video meeting tools. Metaverse-related technologies bridge the gap between real-life and virtual interactions by allowing people to interact more naturally.

Professors and students at the University of Chicago and the University of Pennsylvania use virtual meeting space Gather, which mimics features of real-life interactions. Users create avatars and navigate a virtual map that represents the physical environment, such as a building. The proximity chat feature make users feel that they are running into other students and professors in the hall. Users see and hear video and audio feeds of participants close to them. When they move away, the sounds cannot be heard and the video disappears. Unlike on Zoom, users aren’t forced to be in a single conversation. They can move fluidly between conversations as speakers or listeners.

The University of Pennsylvania’s computer and information science department used Gather to recreate Levine Hall, which is home to the department. The virtual building’s layout mimics classrooms, laboratories, elevators,  stairwells and other features of Levine Hall. The student-run hub of technological innovation, Weiss Tech House, has also been recreated virtually.

The Gather space accommodates 200 students and supports multiple conversations simultaneously. There are six virtual spaces that correspond the building’s six floors. Small groups can branch off into subgroups to work on tasks or engage in conversation.

4. Enables experimentation with hard-to-create phenomena

In some situations, learning in real-world environments, such as those involving chemical experiments and flying airplanes, is risky. In such cases, special equipment, such as virtual reality headsets, software and special gloves for haptic responses, can create immersive simulations of real environments. Learners feel as though the digital world is real.

These technologies can create scenarios that are impossible or impractical to create in the real world.

In Fisk University’s planned in-person history courses, students visit historically significant locations wearing virtual reality headsets. They include the Montgomery Bus Boycott; the Edmund Pettus Bridge in Selma, Alabama; the Lorraine Motel in Memphis, Tennessee; and the National Mall in Washington.

In chemistry classes, virtual reality allows visualization of how atoms are arranged in a protein. This insight helps pharmaceutical drug research.

5. Increases accessibility for remote students

Big gaps exist in higher education between rural and urban areas.

In 2015, 18% of men and 20% of women 25 and older living in rural areas of the U.S. had earned at least a bachelor’s degree compared with 32% and 33%, respectively, in urban areas.

Metaverse technologies can close this gap by making educational resources accessible to remote students. South Dakota State University expects that its metaversity will help reach the state’s rural students.

6. Attracts a young demographic

Children and young adults are the dominant populations in well-known metaverses, which are in the gaming sector.

About half of Roblox players are under 13 and 66% are under 16. Likewise, two-thirds of Fortnite’s players in 2021 were young adults. Compared with older generations, this demographic is more experience-driven and sees interesting and exciting learning opportunities in the metaverse.

Universities are using the metaverse to attract them. Southwestern Oregon Community College’s leaders think that its metaversity will increase enrollment. This is because higher proportions of younger generations, such as Generation Z, grew up with virtual reality technologies.

Younger generations show a higher level of interest and involvement in the metaverse. In a survey conducted in the U.S. in March 2022, 64% of Gen Z respondents were interested in having a digital avatar and 56% were interested in attending a music event in the metaverse. The proportions were 28% and 25% for baby boomers.

Unique experience provided by metaverse technologies, such as virtual reality, is thus appealing to younger generations and can become a key tool to attract them to universities.

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Monday, August 29, 2022

MustGrow Biologics Corp. (MGROF)
Reports 2Q22 Operating Results

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2Q22 Results. MustGrow reported a net loss of $1.4 million, or a loss of $0.03 per share, for the second quarter of 2022. We had estimated a loss of $905,000, or a loss of $0.02 per share. Still in the pre-revenue stage, MustGrow reported negligible revenue of $3,721 versus our estimate of zero.

Delta. The key line items that differed versus our projections were Professional fees, which came in at $377,824 compared to our estimate of $50,000, and Patent expenses, which came in at $134,339, versus our projection of $50,000. We anticipate continued volatility in the expense levels as MustGrow moves toward regulatory approval and revenue generation.…

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Image Credit: Anna Alexes (Flickr)

A New US Data Privacy Bill Aims to Give You More Control Over Information Collected About You

A new US data privacy bill aims to give you more control over information collected about you – and make businesses change how they handle data

Data privacy in the U.S. is, in many ways, a legal void. While there are limited protections for health and financial data, the cradle of the world’s largest tech companies, like Apple, Amazon, Google, and Meta (Facebook), lacks any comprehensive federal data privacy law. This leaves U.S. citizens with minimal data privacy protections compared with citizens of other nations. But that may be about to change.

With rare bipartisan support, the American Data and Privacy Protection Act moved out of the U.S. House of Representatives Committee on Energy and Commerce by a vote of 53-2 on July 20, 2022. The bill still needs to pass the full House and the Senate, and negotiations are ongoing. Given the Biden administration’s responsible data practices strategy, White House support is likely if a version of the bill passes.

As a legal scholar and attorney who studies and practices technology and data privacy law, I’ve been closely following the act, known as ADPPA. If passed, it will fundamentally alter U.S. data privacy law.

ADPPA fills the data privacy void, builds in federal preemption over some state data privacy laws, allows individuals to file suit over violations and substantially changes data privacy law enforcement. Like all big changes, ADPPA is getting mixed reviews from media, scholars and businesses. But many see the bill as a triumph for U.S. data privacy that provides a needed national standard for data practices.

Who and What will ADPPA Regulate?

ADPPA would apply to “covered” entities, meaning any entity collecting, processing or transferring covered data, including nonprofits and sole proprietors. It also regulates cellphone and internet providers and other common carriers, with potentially concerning changes to federal communications regulation. It does not apply to government entities.

ADPPA defines “covered” data as any information or device that identifies or can be reasonably linked to a person. It also protects biometric data, genetic data and geolocation information.

Protected data includes your location – Southernmost House, Key West (C. Watts, Flickr)

The bill excludes three big data categories: de-identified data, employee data, and publicly available information. That last category includes social media accounts with privacy settings open to public viewing. While research has repeatedly shown deidentified data can be easily reidentified, the ADPPA attempts to address that by requiring covered entities to take “reasonable technical, administrative, and physical measures to ensure that the information cannot, at any point, be used to re-identify any individual or device.”

How ADPPA Protects Your Data

The act would require data collection to be as minimal as possible. The bill allows covered entities to collect, use or share an individual’s data only when reasonably necessary and proportionate to a product or service the person requests or to respond to a communication the person initiates. It allows collection for authentication, security incidents, prevention of illegal activities or serious harm to persons, and compliance with legal obligations.

People would gain rights to access and have some control over their data. ADPPA gives users the right to correct inaccuracies and potentially delete their data held by covered entities.

The bill permits data collection as part of research for public good. It allows data collection for peer-reviewed research or research done in the public interest – for example, testing whether a website is unlawfully discriminating. This is important for researchers who might otherwise run afoul of site terms or hacking laws.

The ADPPA also has a provision that tackles the service-conditioned-on-consent problem – those annoying “I Agree” boxes that force people to accept a jumble of legal terms. When you click one of those boxes, you contractually waive your privacy rights as a condition to simply use a service, visit a website or buy a product. The bill will prevent covered entities from using contract law to get around the bill’s protections.

Looking to Federal Electronic Surveillance Law for Guidance

The U.S.’s Electronic Communications Privacy Act can provide federal law makers guidance in finalizing ADPPA. Like the ADPPA, the 1986 ECPA legislation involved a massive overhaul of U.S. electronic privacy law to address adverse effects to individual privacy and civil liberties posed by advancing surveillance and communication technologies. Once again, advances in surveillance and data technologies, such as artificial intelligence, are significantly affecting citizens’ rights.

ECPA, still in effect today, provides a baseline national standard for electronic surveillance protections. ECPA protects communications from interception unless one party to the communication consents. But ECPA does not preempt states from passing more protective laws, so states can choose to provide greater privacy rights. The end result: Roughly a quarter of U.S. states require consent of all parties to intercept a communication, thus providing their citizens increased privacy rights.

ECPA’s federal/state balance has worked for decades now, and ECPA has not overwhelmed the courts or destroyed commerce.

National Preemption

As drafted, ADPPA preempts some state data privacy legislation. This affects California’s Consumer Privacy Act, although it does not preempt the Illinois Biometric Information Privacy Act or state laws specifically regulating facial recognition technology. The preemption provisions, however, are in flux as members of the House continue to negotiate the bill.

ADPPA’s national standards provide uniform compliance requirements, serving economic efficiency; but its preemption of most state laws has some scholars concerned, and California opposes its passage.

If preemption stands, any final version of the ADPPA will be the law of the land, limiting states from more firmly protecting their citizens’ data privacy.

Private Right of Action and Enforcement

ADDPA provides for a private right of action, allowing people to sue covered entities who violate their rights under ADPPA. That gives the bill’s enforcement mechanisms a big boost, although it has significant restrictions.

The U.S. Chamber of Commerce and the tech industry oppose a private right of action, preferring ADPPA enforcement be restricted to the Federal Trade Commission. But the FTC has far less staff and far fewer resources than U.S. trial attorneys do.

ECPA, for comparison, has a private right of action. It has not overwhelmed courts or businesses, and entities likely comply with ECPA to avoid civil litigation. Plus, courts have honed ECPA’s terms, providing clear precedent and understandable compliance guidelines.

How Big are the Changes?

The changes to U.S. data privacy law are big, but ADPPA affords much-needed security and data protections to U.S. citizens, and I believe that it is workable with tweaks.

Given how the internet works, data routinely flows across international borders, so many U.S. companies have already built compliance with other nations’ laws into their systems. This includes the E.U.’s General Data Protection Regulation – a law similar to the ADPPA. Facebook, for example, provides E.U. citizens with GDPR’s protections, but it does not give U.S. citizens those protections, because it is not required to do so.

Congress has done little with data privacy, but ADPPA is poised to change that.

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Competition for Your Internet Business is Keeping Broadband Inflation at a Minimum

Wireless carriers are using the excess capacity on their fifth generation (5G) networks to compete with traditional broadband-internet providers such as cable. Meanwhile, the same cable companies are trying to gain inroads into cell service by promoting new and cheaper cellphone plans.

This competition benefits consumers experiencing high inflation rates in other products they consume by minimizing increases to their internet or cell services. Each of these services has few competitors depending on the region; the additional players, mostly large companies, are welcome by users but may depress earnings.

The consumer-price index (CPI), the most common consumer inflation measure, rose 8.5% from July 2021 to July 2022. The cost of internet service for the same period rose by only 1.7%, according to the Labor Department.

Cell Provider Gains

As 5G is rolled out into communities, cell service providers helped Verizon Communications Inc (VZ) and T-Mobile (TMUS)  sign up 2.2 million wireless-internet customers through mid-year 2022. These customers most often then ended their traditional broadband providers’ service. Often these services included add-on subscriptions that were in addition to the broadband connection and added to earnings. The mobile-phone companies’ wireless broadband signals from cell towers to personal routers are fast enough to satisfy most new customers and reduce the need for installation of cables throughout a home or business.

The impact to cable companies can be seen in their earnings. Comcast Corp. (CMCSA) lost residential customers last quarter for the very first time. Charter Communications Inc. (CHTR) had its first decline in nearly a decade. The loss contributed to the cable industry’s worst quarter in years.

Also contributing to the drop, according to cable internet providers, are slower home sales and fewer people moving.

Comcast’s CEO, Brian Roberts, said he expects the pace of internet customers moving to wireless transmission to slow. This is because mobile carriers have capacity constraints that more quickly limit the number of internet users they can add. For instance, T-Mobile says its next-generation network is broad enough to cover 40 million homes and businesses.

“Demand continues to build from dissatisfied suburban cable customers to underserved customers in smaller markets and rural areas,” said T-Mobile CEO Mike Sievert on an earnings conference call last month. T-Mobile said a little more than half of the 560,000 internet customers it added during the second quarter came from cable competitors.

Customer savings, on a percentage basis, can be sizeable. One example shows a customer who lowered their internet bill by moving to a 5G network from $85 to $50, which the new provider locked in for as long as they keep the service.

Broadband Direct Internet Provider Gains

Since before the pandemic, the large cable companies had spent years winning over customers for cellphone service who might have otherwise signed up for service with those more recognized for cell service. Comcast and Charter have gained nearly nine million mobile-phone subscribers since Comcast launched its wireless service in 2017.

Cable companies that now offer cell service aren’t using their own cell networks; they’re paying the wireless providers for access under reseller agreements. The relationships they have, help to sell the service, and it’s boosting their bottom lines – Verizon provides to Comcast and Charter, and T-Mobile sells space to Altice USA.

Ultimate Beneficiary

Internet providers, both wired and wireless, are experiencing competition in their traditional businesses. Both will bump up against capacity constraints as the level of new generation wireless being installed will have a maximum that is not large enough to continue indefinite expansion.

The consumers, for now, are the beneficiaries. For those that have rates that are locked in, they need not be concerned about inflation in their cable costs. However, rates have been known to decline.

Paul Hoffman

Managing Editor, Channelchek

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Sources

https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/telecommunications-industry-outlook.html

https://corporate.comcast.com/press/releases/xfinity-mobile-comcast-business-mobile-samsung-galaxy-z-flip4-galaxy-z-fold4

https://www.wsj.com/articles/wireless-carriers-want-to-be-your-home-internet-providerand-vice-versa-11661209313?mod=hp_lista_pos2

https://www.verizon.com/about/investors/quarterly-reports/2q-2022-earnings-conference-call-webcast

https://investor.t-mobile.com/events-and-presentations/news/news-details/2022/T-Mobile-5G-Swings-into-Yankee-Stadium/default.aspx

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