How Is the Metaverse Going to Change Business?

With the ‘metaverse’ becoming a popular buzzword in the digital sphere, businesses are wondering how it affects them. Tim Cook of Apple believes that “Life without AR will soon be unthinkable”, which may indicate that this is more than just a passing trend.

So what is the metaverse? It refers to an upgrade of the internet into a 3D virtual environment, where platforms become interconnected and users can gain immersive experiences - something that has been attempted before but has not been able to take off due to technological limitations. Many of those have now been addressed. Even Microsoft has announced partnering with Meta to bring Microsoft 365 apps into the metaverse - making it easier for collaboration and enabling 50% of Gen Z and millennials to do their work in the metaverse within two years.

As technology continues to advance, so too does the potential of the metaverse - and companies need to be aware of how they can utilize this new platform in order to stay ahead of the competition.

How Does the Metaverse Impact Your Company?

From Microsoft to other major tech companies, the potential of AR and VR is gaining more and more attention, hinting that this could be the reality we are heading towards. And with the metaverse at its core, it's only a matter of time before your company feels its impact in some way over the next few years. So what kind of changes might you expect? Here's a sneak peek into a future filled with the metaverse...

Advertising

When the internet first appeared, its potential was not immediately recognized by companies - but that all quickly changed. Today, having a website is simply essential for any business, enabling them to drive leads and generate sales.

The same could soon be true of the metaverse; if it takes off and becomes the new 3D iteration of the internet, companies will need to consider how they can make use of this new platform. This may include exploring advertising in virtual worlds or creating their own VR site or showroom to promote their products and services.

By staying ahead of trends and embracing new technologies, businesses can remain competitive and ensure their success for years to come.

How To Service Customers

Social media has become a vital part of customer service in recent years, with 79% of customers expecting companies to respond to social media inquiries within a day. Companies have met this challenge by creating a presence on popular networks like Twitter and Facebook - but what happens when customers migrate to the metaverse?

If users start using the metaverse as part of their everyday lives, they'll also expect to find companies there too, just like they do now on social media. Companies will need to be ahead of the curve, monitoring how customers are interacting in the metaverse and learning how it can be used for services such as customer support. One simple way to do this is by including questions about metaverse use in regular customer surveys - this will ensure that companies remain responsive and up-to-date with all the latest trends.

Employee Training

The Metaverse provides businesses with an uncommon opportunity to reform their operations and increase efficiency. One of the most powerful ways companies can take advantage of the Metaverse is through employee training. With virtual reality, companies can create inviting training experiences that allow employees to learn in a safe and engaging environment while providing them with real-time feedback on their performance. This kind of interactive learning experience not only enhances employee engagement but also helps ensure that employees are well-prepared for any task they may be called upon to complete. Additionally, because it’s all done virtually, there’s no need for costly travel expenses or physical classrooms – making it more cost-effective than traditional methods of employee training.

More Immersive Remote Collaboration

Virtual meetings have become the norm in the wake of the pandemic, with popular platforms like Microsoft Teams and Zoom making it easy to connect with colleagues from anywhere in the world. But what if we could take virtual meetings one step further? What if we could meet in a virtual world?

Microsoft is already working on bringing its apps into a virtual space, allowing us to add avatars and an enveloping setting to our remote team collaboration. But that's not all - imagine being able to walk through a 3D recreation of a space before it’s built, or fine-tuning the construction while inside that space. This would provide an entirely new way for teams to collaborate remotely and make decisions quickly.

The possibilities are endless when it comes to virtual meetings, and they may just be the key to unlocking more efficient remote team collaboration in the future.

Ready For The Next Digital Revolution?

The metaverse is already transforming how businesses operate, from customer service to employee training and remote collaboration. Companies that want to stay ahead of the curve should start exploring these possibilities now, so they can take advantage of them in the near future. To ensure success in this digital revolution, it’s important for companies to partner with experienced professionals who understand the implications of virtual reality on business operations. With their help, you can create a plan tailored specifically to your needs and make sure that your company stays competitive in an ever-evolving landscape.