Metaverse will be good for business: Accenture Survey

3 min read

Career Trends: April 13, 2022
Curated by the Knowledge Team of ICS Career GPS

Advances in technology are becoming more reliable in informing businesses’ long-term strategy, say almost all the global executives surveyed by Accenture, recently. (Image Credit: Canva)

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The Metaverse — a 3D version of the Internet — will be positive for business, according to 71% of the respondents of a recent Accenture survey. This is to be expected given that JP Morgan says the Metaverse will infiltrate every sector in the coming years and be worth more than $1 trillion in annual revenues.

Many companies are already embracing it, including Disney, Gucci, Meta (Facebook) and Warner Bros.

“(Metaverse) is the biggest opportunity for modern business since the creation of the Internet.

Mark Zuckerberg

Accenture’s Chief Executive Officer Julie Sweet and Chief Technology Officer Paul Daugherty mention in the report that from the present early days, Metaverse is expected to advance very quickly. This makes it necessary for companies to act now and stay ahead in the market.

The Business of Metaverse

Advances in technology are becoming more reliable than economic, political or social trends in informing businesses’ long-term strategy, say almost all the global executives surveyed.

Here’s what early adapters of the Metaverse are doing:

  • Disney has patented Metaverse technology for its theme parks.
  • Meanwhile, Warner Bros hosted a party in Roblox (online gaming platform) to celebrate its musical film, In the Heights.
  • Gucci has constructed a garden experience in the Metaverse.
  • A digital version of Gucci’s Dionysus Bag created for the Roblox marketplace sold for over $4,000 – more than the price of the real version, making it a matter of high profit.

The reimagining of the Internet is just one of the four major tech trends identified in the Accenture’s report. The others are:

  • Augmented reality (AU)
  • Artificial Intelligence (AI)
  • Next-generation computing like quantum computing

Vail Ski Resort in the US state of Colorado is another example cited by the report as offering a vision of what’s to come. The resort has built a digital twin mirroring the physical mountain, with details of snowfall and years of weather data. This, alongside investments in remote monitoring and automatic snow machines, helps the resort’s managers to increase the predictability of skiing conditions and could eventually let them extend the typical season.

The Metaverse and related innovations are transforming the fundamentals of the virtual world, says the Accenture report.

Have you checked out yesterday’s blog yet?

World Economic Forum Experts Throw Light on Top 10 Emerging Technologies

(Disclaimer: The opinions expressed in the article mentioned above are those of the author(s). They do not purport to reflect the opinions or views of ICS Career GPS or its staff.)

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