Metaverse To Create $1 Trillion Commerce Opportunity By 2025 End: Report

A latest report said that metaverse will to build a USD 1 trillion commerce opportunity by the end of 2025. The report also emphasised that the “biggest potential” for metaverse will be in industrial enterprise use cases in the short term. 

The Accenture report pointedly mentioned that some of the world’s best-known brands are already deploying the technology. 

“For example, BMW has invested in digital twin technology to build a virtual representation of a German factory using NVIDIA’s Omniverse Enterprise platform. The system allows BMW to simulate changes to its manufacturing process with ‘virtual humans,’ and optimise changes to workflow and ergonomics before rolling them out to a real factory floor,” said the report. 

Delving into the topic of artificial intelligence (AI), the report said that the technology was at a new inflection point as it gains more human-like capabilities and intelligence in three categories: vision, language and reasoning. 

It mentioned that computer vision was gaining traction in domains such as manufacturing quality control, safety and physical security and autonomous mobility. While language is a more complex domain, recent advances like GPT3 and ChatGPT are breaking new ground in intelligent customer engagement, content creation and contextual search. “Recommendation systems are becoming central to enterprise decision-making,” the report emphasised.

The study has recommended that companies will need to develop foundational models that continually add to their corpus of data and knowledge and enable them to be more responsive to new signals of change from their operations or outside environment to increase their intelligence index.

In a survey of over 1,500 C-suite executives and data-science leaders from the world’s largest organizations, the report found that firms that plan to adopt next-generation AI and advanced computational methods—while tapping ecosystem partners and networks to help them plan and execute their tech strategies—are 2.6X more likely to increase revenue by 10 per cent or more than companies not pushing toward the leading edge in these areas.

“A majority of companies—nearly 75 per cent— have already integrated AI into their business strategies and have reworked their cloud plans to achieve AI success,” mentioned the report.

But the report also found that of the companies already testing AI, only 12 per cent are effectively scaling their AI experiments to achieve superior performance and growth.