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Facebook intends to hire 10,000 people in the EU to assist in the development of the "metaverse"


It is planned that Facebook (FB) will hire up to 10,000 people in Europe to work on the creation of the "metaverse," which will combine virtual and augmented reality technologies in an entirely new online realm.


It was announced on Sunday by the US technology behemoth that it would last for five years and would include a recruitment drive. "This investment represents a vote of confidence in the European technology sector and its employees," Facebook said in a statement.


According to Facebook executives Nick Clegg and Javier Olivan, "as we embark on the journey of bringing the metaverse to life, the requirement for highly specialized engineers is a top priority for us."


With the metaverse concept, the goal is to create a space similar to the internet in which users can walk around and interact with one another in real time by using digital avatars created in the virtual world. According to theory, users could convene around a virtual meeting table with remote colleagues before walking over to a virtual Starbucks to meet a friend from a different country to discuss business.


The social media giant faces stiff competition in the metaverse development space from immersive gaming platforms such as Roblox and Epic Games, which is responsible for the hit game Fortnite. A number of similar projects have been in development since the launch of Second Life, a virtual reality environment, in 2003.


Facebook has stated that the metaverse will not be owned or operated by a single company, as has been previously reported.


"As is the case with the internet, the openness and interoperability of the system will be its distinguishing characteristics. Collaboration and cooperation among businesses, developers, creators, and policymakers will be required in order to make this a reality "Clegg and Olivan were in agreement.


The head of PwC's XR [Extended Reality] practice, Jeremy Dalton, believes that augmented reality is the future "Having a physical presence in Europe is a wise move for any organization interested in the potential of the metaverse and its applications. This isn't just a question of skill distribution, though it is."


As Dalton went on to say, "this new era of digital interaction will ineluctably collide with government policy as well as consumer and business concerns about privacy and data protection."


This is a "exciting time" for Europe's technology industry, according to the company, which notes that the region benefits from "a large consumer market, world-class universities, and, most importantly, high-quality talent."


The owner of Instagram and WhatsApp cited investments in artificial intelligence research in France as well as the establishment of a new office in Ireland as evidence of its commitment to the region. Instagram and WhatsApp are owned by Facebook.


However, it is also a period in which EU and UK regulators will be paying closer attention.


When the European Commission launched an investigation into whether Facebook had violated EU competition rules by using data collected from its platform's advertisers to compete against them in June, the social media giant was criticized. Additionally, the Competition and Markets Authority of the United Kingdom is looking into Facebook's data usage.


The amount of pressure being applied to Facebook by lawmakers on both sides of the Atlantic is increasing as a result of allegations that the company has repeatedly prioritized profits over the public good. According to Frances Haugen, a former Facebook product manager who testified before US lawmakers earlier this month, the company was aware that it was serving harmful, eating disorder-related content to young users and that the use of Facebook by authoritarian leaders could pose a national security threat to the United States.


After her testimony before the House of Commons on Monday, Sophie Zhang, another Facebook whistleblower, will testify before UK lawmakers during a hearing into the role of social media in normalizing hate speech.

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