Many players like Facebook, HTC, Apple, Microsoft, and many startups are active in this field.
Currently, devices like the Quest 3 series are quite affordable and user-friendly.
XR has numerous applications such as education (including pilot and military training), entertainment, social connections, healthcare, e-commerce, and more.
While AI is grabbing massive attention, XR has great potential, requiring less government supervision and posing less threat to society while being highly engaging.
Think about the movie 'Ready Player One' opening scene and the movie 'The Matrix' for inspiration.