Metaverse will soon become the beating heart of business
The metaverse is fast becoming a key to companies’ growth and talent strategies as well as for new opportunities, consulting firm Deloitte said on Tuesday.
The metaverse is still in its initial stages and is expected to enter maturity from 2031 when independent metaverses from different industries will gradually share data and develop unified, integrated standards.
Unified data standards, payment systems and identity authentication are critical to achieving cross-platform development and integration.
From a business viewpoint, the line between offline and online channels is becoming blurred, representing rapidly growing opportunities in almost all industries from physical products to services like education and healthcare.
Soon, metaverse will have the potential to evolve traditional business models in different ways. Companies can use digital twins to emulate manufacturing and logistics processes within the metaverse, which may enable lower-cost predictive planning and maintenance.
Industrial engineers can also test product designs in a mixed-reality launch pad.
However, the metaverse will likely introduce new cyber vulnerabilities and risks related to digital identity and fraud.
Businesses and governments can be expected to focus on protecting personal information while identifying and addressing emerging cyber risks.
Regardless of the ultimate trajectory of the metaverse, it’s clear that technology is evolving rapidly to make virtual interactions more immersive, more diverse and more innovative.
