Written by

Bernard Marr

Bernard Marr is a world-renowned futurist, influencer and thought leader in the fields of business and technology, with a passion for using technology for the good of humanity. He is a best-selling author of 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations. He has over 2 million social media followers, 1 million newsletter subscribers and was ranked by LinkedIn as one of the top 5 business influencers in the world and the No 1 influencer in the UK.

Bernard’s latest book is ‘Business Trends in Practice: The 25+ Trends That Are Redefining Organisations’

View Latest Book

Follow Me

Bernard Marr ist ein weltbekannter Futurist, Influencer und Vordenker in den Bereichen Wirtschaft und Technologie mit einer Leidenschaft für den Einsatz von Technologie zum Wohle der Menschheit. Er ist Bestsellerautor von 20 Büchern, schreibt eine regelmäßige Kolumne für Forbes und berät und coacht viele der weltweit bekanntesten Organisationen. Er hat über 2 Millionen Social-Media-Follower, 1 Million Newsletter-Abonnenten und wurde von LinkedIn als einer der Top-5-Business-Influencer der Welt und von Xing als Top Mind 2021 ausgezeichnet.

Bernards neueste Bücher sind ‘Künstliche Intelligenz im Unternehmen: Innovative Anwendungen in 50 Erfolgreichen Unternehmen’

View Latest Book

Follow Me

Metaverse – The Reality Beyond The Fantasy

7 November 2022

A lot has been said and written about the metaverse over the past year or so. In fact, everyone seems to have a different idea about what it is and what it will mean for our lives.

There are so many different opinions and takes on the matter that Apple CEO Tim Cook recently said that one of the reasons he personally doesn’t believe it will be the next big thing is because no one agrees on what it actually is!

Metaverse – The Reality Beyond The Fantasy | Bernard Marr

Mark Zuckerberg thinks it will revolve around virtual reality (VR), the headsets his company sells, and a sort of 3D version of Facebook where we all exist as cartoon avatars.

Proponents of the web3 model, on the other hand, believe decentralization and blockchain-based platforms like Decentraland and Sandbox are the future.

Perhaps somewhere in the middle of these two visions sits probably the most successful model so far. Videogame-oriented platforms such as Roblox and Fortnite were built well before the term metaverse became commonplace but offer much of the functionality that’s central to the model. This includes persistent environments and the ability to adopt a consistent identity (avatar) as users move between playing, socializing, and shopping.

My own take, as I’ve written before, is that the most precise thing we can say about the metaverse right now is that it’s the next level of the internet. As it turns out, this was also the starting point adopted by analysts at global consulting firm Arthur D. Little when they set out to determine the nature of the metaverse beyond fantasy.

Blue Shift

Recently I was joined for a webinar by Dr. Albert Meige, director of the reports created under the company’s Blue Shift banner.

Meige tells me that after speaking to hundreds of technology professionals, they found that implementations of metaverse ideas generally fell into one of three categories – consumer metaverse, enterprise metaverse or industrial metaverse.

One example of a consumer application that exists, in reality, today and demonstrates the potential the metaverse could unlock tomorrow is a VR experience that lets users visit the ancient Egyptian Pyramid of Cheops.

He tells me, "I was really amazed – I can visit the pyramid in a very realistic manner with our own virtual guide, but also adopt points of view you would not be able to adopt if you were there, for example, by removing blocks while inside, to see how all the rooms are connected. It's an awesome experience."

On the enterprise side, he speaks about being impressed by companies that are using VR meeting rooms and environments to carry out staff training and internal activities. Forward-thining organizations are finding that this type of implementation allows them to get to grips with the basics of deploying VR environments without worrying about how they will impact the perception of customers or the general public.

Use cases like this represent the present-day "reality of the virtual." It's a pragmatic view that focuses on what the metaverse is now rather than the hype and fantasy about what may one day be possible. In other words, it avoids the sort of techno-utopian, visionary ideas that technologists love to talk about but, as Tim Cook points out, don’t always come across well with the general public. Funnily enough, it turns out that not everyone thinks that the idea we are going to spend more and more of our lives living in virtual reality is necessarily a good thing!

Meige goes on to suggest that even within industries, real (as opposed to fantasy) implementations of metaverse experiences can be broken down into these three categories.

In healthcare, for example, consumer applications include remote consultations, diagnoses, and treatments. Then there are enterprise applications, such as metaverse environments where surgeons can train in procedures or learn how to use new tools and processes. Finally, there are industrial applications. This would include digital twin simulations, such as a virtual human heart that can be used to trial drugs and treatments in order to gather data without putting living patients at risk.

Proto-metaverse

Arthur D. Little’s report identifies the fact that most of the platforms that exist today – those that we've previously mentioned, such as Meta Horizons, Decentraland, or Roblox - are best thought of as "proto-metaverses." This is because they are disconnected from each other and far from fully immersive. Although they help us understand what the metaverse may one day look like, the actual next stage in the evolution of the internet – whatever it will eventually look like - is still some way off. When it does arrive, we will know about it, as it’s likely to be as transformational as the arrival of the original internet (world wide web) or the mobile internet a decade or so later.

"New uses and business models appeared in all sectors, with no exceptions," Meige tells me.

“That said, we can see there are sectors today that are more eager to try things … for example, the luxury business."

This line of thinking – as well as a plethora of other insights found in the report – indicate that nothing can be taken for granted when trying to predict what the metaverse might look like when it gets to the point that it starts to impact all of our lives. As with the world wide web, mobile internet, and indeed social media, the one thing that's certain is that once it does, it will be far too big for anyone to ignore.

As Meige says, “while we are still about a decade away from a complete, fully immersive version of the metaverse, huge opportunities already exist. The question is, how to grasp them?”

You can click here to watch my webinar with Dr. Albert Deige, Director of Blue Shift at Arthur D. Little, in full. In it, we cover in more detail the full implications of augmented reality (AR)– a metaverse technology that's somewhat overlooked by comparison to its cousin VR but may end up being more important to the way the metaverse evolves.

Business Trends In Practice | Bernard Marr
Business Trends In Practice | Bernard Marr

Related Articles

Policing In The Metaverse: What’s Happening Now

Policing agencies worldwide are now launching innovative metaverse initiatives that will help protect communities and guarantee the rule of law.[...]

Banking In The Metaverse – The Next Frontier For Financial Services

Banks have long known that if they can capture the attention of customers when they are young, they are likely to get hold of them for life.[...]

Is This The Downfall Of Meta And Social Media As We Know It?

Meta Platforms – the company formerly known as Facebook – is cutting its workforce by 13% – equating to a loss of 11,000 jobs.[...]

Cheetos Launches A Brand New Metaverse Experience

One of the world’s most beloved brands has launched a new immersive metaverse experience, and fans all over the world are hungry to interact with one of their favorite snack icons[...]

The Top 5 Metaverse Trends In 2023

Following Facebook’s rebranding at the end of 2021, just about everyone was keen to let us know about their vision for digital worlds where we can work[...]

Tim Cook Says The Metaverse Isn’t The Future Because People Don’t Understand It – They Might Not Have To

It seems like everyone has spent the last year or so falling over themselves to tell us what the metaverse is.[...]

Stay up-to-date

  • Get updates straight to your inbox
  • Join my 1 million newsletter subscribers
  • Never miss any new content

Social Media

0
Followers
0
Followers
0
Followers
0
Subscribers
0
Followers
0
Subscribers
0
Yearly Views
0
Readers

Podcasts

View Podcasts