Are Companies Ready for Metaverse?
The transition from a set of independent virtual worlds to an integrated network of 3D virtual worlds, the Metaverse, relies on refinements in four areas: immersive realism, ubiquitous access and identity, interoperability, and scalability. Ever since Facebook (Meta) introduced itself as a company with all its eggs in one metaverse basket, the world's attention towards the new domain has become prominent.
Renowned tech giants have taken steps by launching metaverse foundries to support companies in creating their specific metaverse environment. Tech companies have also ventured into enabling the integration of a metaverse environment in their work. They have extended this tech to companies by establishing the capacity to model the procedures and humans, along with physical assets.
What is Metaverse?
The term "Metaverse" further promotes digital transformation in all aspects of our physical life. At the heart of the Metaverse is the vision of the immersive internet as a vast, unified, and permanent shared area. Metaverse is catalysed by new technologies such as XR (combination of Augmented, Virtual and Mixed reality), 5G, and artificial intelligence that may look futuristic, but cyberspace's digital 'Big Bang' isn't too far away.
Talking about how Metaverse works, every individual user owns their avatar and experiences a different life in a virtual environment that is a metaphor for the user's real-world and the user's physical self. To achieve this dualism, the development of the Metaverse has three consecutive stages: (I) digital twins, (II) digital natives, and finally, (III) physical virtual reality or the coexistence of surreality.
Are Companies Ready for Metaverse?
Tech giants have already begun to adapt and work around building a more robust and more advanced metaverse environment. During the pandemic, these companies helped the Municipal Corporations to build a digital twin to enhance their Covid Management system. In simpler terms, it helped create digital twins that could be virtually available to enable processes, which was not otherwise possible manually.
There are ideas turning into a business model (post-Covid) where the walk-in interviews can be done in a full Metaverse environment with the candidate appearing in an Avatar and the HR and Interviewer panel managing this in a real life-like play.
Imagine trade shows for luxury goods like jewellery or expensive watches can be done in a Metaverse world without shipping the items.
They further envision expanding the digital twin tech and creating an environment wherein people remain connected through human-like interactions from different parts of the country or world. For example, the development of digital avatars of humans. These avatars can interact in a company meeting from various locations, providing a life-like environment. With such innovations, companies are en route to creating a metaverse environment within and in the outside world.
It is not just the tech giants that are investing in developing a Metaverse environment, but also smaller corporations are also focusing on the concept of metaverse development. The Metaverse of the future will run openly, nearly without interruption from a single community or corporation. Creators will come from all over the world as more brands seek to create outlets on the larger Metaverse, much like today's internet.
The above transformation in companies shows how they are gradually moving towards creating a more advanced metaverse ecosystem.
Additionally, the kind of manpower the companies hire speaks a lot about how they are working towards upgrading their tech. Hence, with a strong inclination of companies towards hiring skilled workforce, it shows that the companies are gradually working towards developing Metaverse.
Advantages of Metaverse
According to a survey by Statista, a late 2021 study of worldwide internet users, the most significant advantage of the Metaverse was overcoming constraints that prohibited people from achieving anything in real life. Improving creativity and imagination was named second, with 37% of respondents citing this as a benefit. Upskilling, education, and seeking new employment options are also possibilities in the Metaverse.
The benefits of the Metaverse for increasing communication might include introducing exciting and interactive experiences for users. Participants may uncover chances for dynamic and intriguing interactions among participants by using the graphically rich 3D virtual settings and immersive experiences. The benefits in areas like defense and military are immense, whereas gaming and entertainment are natural.
_20240501181242original_image_36.webp)