Enterprise use cases set to drive metaverse momentum
NEW DELHI : Virtual reality (VR) goggles, immersive games and new shopping experiences introduced consumers to the metaverse in the last two years; however, the real growth of metaverse may happen on the enterprise side, as companies find multiple use cases. The metaverse is defined as a virtual immersive environment that mirrors our reality through technologies such as AI, blockchain, 5G, community and power platforms, augmented reality (AR), and virtual reality (VR).
The integration of artificial intelligence (AI) and so-called digital twins - virtual replicas of existing physical objects, systems or infrastructures—will drive the growth of the enterprise metaverse, industry experts said. According to them, the consumer side was the more visible and hyped side of the metaverse; however, there may be far more money to be made in the enterprise metaverse, a side that most consumers will never directly see.
“Being in its early stages, most businesses are figuring out the right use cases," said Ashootosh Chand, PwC India partner, digital and emerging technologies. “While there is a perceived slowdown in metaverse projects due to the current economic crisis, the sentiment on the corporate side will remain strong as there will be many use cases in the next 3-5 years," he said.
“Brands are creating new, fully immersive environments and finding a way to engage customers in them. However, the current metaverses lack interoperability, which is a challenge," he added.
According to a PwC India report titled ‘Our Take - Embracing the Metaverse’, published in April, out of 150 Indian businesses surveyed, 25% are planning to embed the metaverse into their organizational activities within a year. Chand explained how a digital twin
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