The World Economic Forum believes businesses will benefit from the metaverse..It says the shift to the metaverse is likely to have a positive impact on commerce, according to 71% of respondents to an Accenture survey, and 42% say it will be “breakthrough” or “transformational.”.The results are from a survey by Accenture and published in its report, titled Tech Trends 2022: Meet Me in the Metaverse. Accenture is an Ireland-based multinational professional services company specializing in information technology services and consulting..In the coming years, the metaverse will be an intrinsic part of every business sector. According to bankers JP Morgan, this digital evolution will culminate in a market opportunity worth in excess of $1 trillion in annual revenue..Mark Zuckerberg’s Meta says the metaverse represents “the biggest opportunity for modern business since the creation of the internet.” He has outlined plans to spend more than $10 billion on developing virtual reality software and hardware tech..Corporations are already scrambling to define the space, carve out a niche, and even buy virtual real estate while some are still grappling with the idea we’re spending increasing amounts of time on the internet. It’s likely many will further immerse themselves via the metaverse, which is, essentially, a 3D version of the internet.. WEF-Meta-1Image courtesy accenture.com .“While we are in the early days of the metaverse, it will advance very quickly,” Accenture’s Chief Executive Officer Julie Sweet and Chief Technology Officer Paul Daugherty say in the report. “If companies don’t act now, they’ll find themselves operating in worlds designed by, and for, someone else.”.Almost all the global executives surveyed said advances in technology are becoming more reliable than economic, political, or social trends in informing businesses’ long-term strategy..“The next wave of digital change is here, providing forward-looking companies with an opportunity to act today to be ready for the future,” Accenture said on its website..“Welcome to the Metaverse Continuum — a spectrum of digitally enhanced worlds, realities, and business models poised to revolutionize life and enterprise in the next decade. It applies to all aspects of business, from consumer to worker, and across the enterprise, from reality to virtual and back, from 2D to 3D, and from cloud and artificial intelligence to extended reality, blockchain, digital twins, edge technologies, and beyond. As the next evolution of the internet, the metaverse will be a continuum of rapidly emerging capabilities, use cases, technologies, and experiences,” Accenture said..Disney has patented metaverse technology for its theme parks. Meanwhile, Warner Bros hosted a party in Roblox — a popular children’s computer gaming platform — to celebrate its musical film, In the Heights, and Gucci constructed a garden experience in the metaverse.. martin-sanchez-JQ0YVavMKLo-unsplashPhoto by Martin Sanchez on Unsplash .And there’s a reason these companies are all piling in — profit. A digital version of Gucci’s Dionysus Bag created for the Roblox marketplace sold for over $4,000. That’s more than the price of the real version..The evolution of the internet as it pertains to the metaverse is one of four major tech trends identified in Accenture’s report. The others are augmented reality taking hold, the growing risk of malicious AI use — in particular to create deep fakes or to spread disinformation — and “next generation” computing, such as quantum computing..“We are on the threshold of a new decade of digital transformation, and at a defining moment for all leaders. The Metaverse Continuum will transform how businesses interact with customers, how work is done, what products and services companies offer, how they make and distribute them, and fundamentally how they operate their organizations,” Accenture said in its report..The metaverse and related innovations are transforming the fundamentals of the virtual world, the Accenture report says..“Now is the time for companies to decide the role that they will play,” it said. “If they want to be part of the wave, or merely watch how it plays out.”.Amanda Brown is a reporter with theWestern Standard.abrown@westernstandardonline.com.,.Twitter: @WS_JournoAmanda
The World Economic Forum believes businesses will benefit from the metaverse..It says the shift to the metaverse is likely to have a positive impact on commerce, according to 71% of respondents to an Accenture survey, and 42% say it will be “breakthrough” or “transformational.”.The results are from a survey by Accenture and published in its report, titled Tech Trends 2022: Meet Me in the Metaverse. Accenture is an Ireland-based multinational professional services company specializing in information technology services and consulting..In the coming years, the metaverse will be an intrinsic part of every business sector. According to bankers JP Morgan, this digital evolution will culminate in a market opportunity worth in excess of $1 trillion in annual revenue..Mark Zuckerberg’s Meta says the metaverse represents “the biggest opportunity for modern business since the creation of the internet.” He has outlined plans to spend more than $10 billion on developing virtual reality software and hardware tech..Corporations are already scrambling to define the space, carve out a niche, and even buy virtual real estate while some are still grappling with the idea we’re spending increasing amounts of time on the internet. It’s likely many will further immerse themselves via the metaverse, which is, essentially, a 3D version of the internet.. WEF-Meta-1Image courtesy accenture.com .“While we are in the early days of the metaverse, it will advance very quickly,” Accenture’s Chief Executive Officer Julie Sweet and Chief Technology Officer Paul Daugherty say in the report. “If companies don’t act now, they’ll find themselves operating in worlds designed by, and for, someone else.”.Almost all the global executives surveyed said advances in technology are becoming more reliable than economic, political, or social trends in informing businesses’ long-term strategy..“The next wave of digital change is here, providing forward-looking companies with an opportunity to act today to be ready for the future,” Accenture said on its website..“Welcome to the Metaverse Continuum — a spectrum of digitally enhanced worlds, realities, and business models poised to revolutionize life and enterprise in the next decade. It applies to all aspects of business, from consumer to worker, and across the enterprise, from reality to virtual and back, from 2D to 3D, and from cloud and artificial intelligence to extended reality, blockchain, digital twins, edge technologies, and beyond. As the next evolution of the internet, the metaverse will be a continuum of rapidly emerging capabilities, use cases, technologies, and experiences,” Accenture said..Disney has patented metaverse technology for its theme parks. Meanwhile, Warner Bros hosted a party in Roblox — a popular children’s computer gaming platform — to celebrate its musical film, In the Heights, and Gucci constructed a garden experience in the metaverse.. martin-sanchez-JQ0YVavMKLo-unsplashPhoto by Martin Sanchez on Unsplash .And there’s a reason these companies are all piling in — profit. A digital version of Gucci’s Dionysus Bag created for the Roblox marketplace sold for over $4,000. That’s more than the price of the real version..The evolution of the internet as it pertains to the metaverse is one of four major tech trends identified in Accenture’s report. The others are augmented reality taking hold, the growing risk of malicious AI use — in particular to create deep fakes or to spread disinformation — and “next generation” computing, such as quantum computing..“We are on the threshold of a new decade of digital transformation, and at a defining moment for all leaders. The Metaverse Continuum will transform how businesses interact with customers, how work is done, what products and services companies offer, how they make and distribute them, and fundamentally how they operate their organizations,” Accenture said in its report..The metaverse and related innovations are transforming the fundamentals of the virtual world, the Accenture report says..“Now is the time for companies to decide the role that they will play,” it said. “If they want to be part of the wave, or merely watch how it plays out.”.Amanda Brown is a reporter with theWestern Standard.abrown@westernstandardonline.com.,.Twitter: @WS_JournoAmanda
