The Future of Business: Metaverse’s Impact on the Corporate Landscape

MetaversePlanet May 2, 2022Last Updated: August 14, 2024

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Review and consulting firm KPMG has shared its predictions regarding the future prospects of extended reality (XR) and metaverse technologies for humanity.

The key points from KPMG’s report, which focuses on the forthcoming world that awaits us, are as follows:

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The first step to Mars will also be a historic turning point for the virtual world.

The Future of Business: Metaverse's Impact on the Corporate Landscape

When Neil Armstrong took that historic step in 1969, the entire world tuned in to watch the event on TV, leading to a surge in television sales, and many households were introduced to this technology for the first time.

One conceivable way to broadcast those moments of a person walking on Mars in the future could be through augmented reality using 360° cameras placed on Mars. Similar to television, as the first human steps onto the Martian surface, XR and metaverse technologies will become even more commonplace.

Financial value in the Metaverse will challenge the financial value of the physical world

By 2030, people will spend more time in the metaverse than in the physical world, and the economic values within the metaverse will begin to rival the financial worth of their assets in the real world. Individuals will compete for jobs, earn income, shop, socialize with friends, and even form marital bonds in this new virtual realm.

Moreover, people will engage in regular employment within the virtual reality world. There will be full-time employees who welcome others, provide guided tours, and offer services within the realm of augmented reality.

The virtual digital twin of our world will be very rich

The real world will be constantly digitally mapped by autonomous vehicles, personal sensors and drones, so the virtual digital twin of our world will be so rich. XR will be everywhere and we will have many interface options to interact, communicate and collaborate.

Our personal AI twins will represent us in the metaverse universe, doing things proactively, or these twins will be integrated directly into our physical reality as a digital prosthetic system. The flat screen, keyboard and mouse will disappear and virtual reality glasses and contact lenses will bewill replace these technologies.

These new interfaces will understand and respond to our completely natural body language and perform tasks without the need for us to learn any commands.

It will get people out of high-risk jobs

Synthetic data derived from our simulated twin world will play a crucial role in guiding robots through problem-solving tasks, ultimately sparing humans from high-risk occupations. Everyday activities such as virtual travel for experiences like space exploration, submarine missions, and work in hazardous environments will become increasingly common.

The use of synthetic data and simulations will serve as valuable tools to enhance augmented reality (AR) and virtual reality (VR) experiences, making them more authentic and effective for individuals with non-technical backgrounds.

VR campuses with artificial intelligence trainers will be established

The physical infrastructure and operational expenses associated with traditional higher education are steadily rising, rendering these costs unsustainable.

The future of education will witness a more democratic access to high-quality learning, with digitized information and resources like museums being showcased on virtual campuses. A majority of students will engage in higher education through a VR campus, complemented by AI instructors.

There are also potential dangers

Hundreds of millions of VR devices are projected to be in use worldwide within the next five years. Over the subsequent decade, while not reaching the ubiquity of smartphones, their popularity is expected to surge even further.

Individuals may find themselves immersed in virtual reality experiences for up to 12 to 15 hours a day, providing a significant platform for data capture, communication, advertising, and influence. The Metaverse has the potential to emerge as one of the most powerful advertising tools ever. However, like nearly any technology, this potential can be harnessed for both positive and negative purposes.