In a recent development, Meta, the company backed by Mark Zuckerberg, has called upon the Telecom Regulatory Authority of India (TRAI) to establish regulatory sandboxes to effectively address emerging challenges associated with the development of the Metaverse and Artificial Intelligence (AI).
In its submission to TRAI, Meta emphasized the need for a dynamic approach in addressing novel issues that may arise as the metaverse continues to evolve. The company suggested a case-by-case examination of legislative gaps, employing evidence-based policy development. Meta expressed its support for the establishment of common standards and best practices for the metaverse and highlighted its active participation in forums like the Metaverse Standards Forum to contribute to this initiative.
The tech giant acknowledged the nascent nature of metaverse technologies and urged policymakers to recognize both the potential benefits and risks that may emerge with further advancements.
To ensure a comprehensive understanding of these evolving technologies, Meta proposed the establishment of mechanisms for long-term dialogue and collaboration between Indian policymakers and industry stakeholders. This could include regulatory sandboxes with clear exit criteria, allowing controlled testing environments or other experimental governance programs.
As the metaverse transcends national borders, Meta underscored the importance of developing consistent public and private standards, norms, and rules that can operate seamlessly across jurisdictions. The company cautioned against a siloed approach to regulation, pointing out that stringent local data storage requirements could impede interoperability and portability in the metaverse. Meta particularly highlighted the potential challenges for smaller businesses engaging in cross-border activities.
In addition, Meta raised concerns about data localization restrictions potentially hindering human opportunities, especially considering the anticipated desire for people to experience the ability to travel between and port assets across various metaverse experiences.
In conclusion, Meta called for proactive measures to establish regulatory frameworks that foster innovation and address potential challenges associated with the evolving metaverse and AI landscape.
