Meta Description:- The business world is witnessing the meta-revolution and businesses must keep pace with this changing paradigm to stay relevant in the times to come.
The term metaverse may only have gained prominence recently, but it promises to change things like never before. Essentially, the Metaverse can be described as a network of digitally connected universes and sits at the intersection of Augmented Reality (AR), Mixed Reality (MR), and Virtual Reality (VR).
Early adopters of the metaverse say the technology will fundamentally change many industries, including marketing and sales, retail, education, real estate, healthcare, and fintech. However, this claim is ambitious and asks the question: how will this meta-transformation happen and which companies will benefit the most? We answer all these questions and many more in this information.
1) Meetings and communications industry
The way people interact with each other is undergoing a massive change with the introduction of metaverse technology. With the help of virtual reality, companies connect virtual reality users with non-virtual reality users and this happens on the same call and in real time. Consider Meta’s (formerly Facebook) Horizon platform which is now used by early adopters and Zoom has announced that it will bring Workrooms of Horizon to its platform next year. Undoubtedly, all these collaborations will transform the face of the communication industry by providing more convenience and collaborative tools to organizations.
2) Retail, Fashion and Furniture
Major players in the retail and fashion industry are massively adopting the metaverse. Additionally, catalyzing the rate of adoption, digital-only fashion has, in fact, fueled a new wave of growth in the apparel and apparel world. The use of the metaverse encourages furniture retailers to embrace augmented reality so that users can virtually experience specific product placements before ordering them in real conditions.
3) Real estate, marketing and sales, and interior design
Not far behind in metaverse usage are segments such as real estate, sales and marketing, and interior design, among others. Thanks to the metaverse, real estate agencies can now offer a virtual tour of the house to prospective buyers even before the property is built. Likewise, interior designers can offer customers the opportunity to choose from different designs and customize their home according to their tastes and preferences.
For sales and marketing managers, the use of metaverse technology has greatly simplified things: they can have a warm conversation with customers without having to travel thousands of miles. Additionally, the extended reality feature has evolved so much today that you can train a factory worker in India from the US or Japan by delivering the program in a controlled environment.
4) Teaching and education segment
The education industry is one of the main beneficiaries of the evolution of metaverse technology. The combined use of AR, VR and MR opens new avenues of immersive learning and growth for students.
For example, AR and VR can effectively replace the dissection technique used in biology to help medical students understand things better. Augmented reality can also be used to study planets and galaxies, while the use of virtual reality can offer many dynamic explanations of historical events for students. Additionally, the Metaverse can also take students on field trips to many otherwise inaccessible places in the real, physical world. Especially in the context of the current travel restrictions, these technologies can really prove useful in keeping the flow of knowledge and learning intact in the education sector.
5) Health sector
Metaverse promises to change the face of the healthcare industry by providing superior training for practitioners and quality services for patients. In the real environment, physicians have limited opportunities to hone their skills, although virtual platforms can help them train better in their area of expertise. For example, running simulations can allow surgeons to better understand the best course of action to use in a specific situation. Moreover, the metaverse platform can also be used as a rehabilitation center for nursing and recovering patients. In fact, Augmedics, an Israel-based medical technology company, has successfully completed the world’s first-ever neurosurgery operation using AR technology. The operation was performed by neurosurgeons working at Johns Hopkins Hospital in the US who performed the operations on living patients using AR headsets – isn’t that amazing?
6) Fintech sector
Metaverse is becoming increasingly popular among financial markets as the platform provides an attractive opportunity for all stakeholders in the category. Take, for example, the revolutionary approach taken by the leading NFT Marketplace that allows buyers and sellers to trade NFTs using different cryptocurrencies. Moreover, these platforms also extend the option of pair tokens in the metaverse which will facilitate the supply of liquidity in the market.
The information cited above is just a glimpse of the huge opportunities that the metaverse can offer businesses in all industries. The meta-transformation has already begun and it is only a matter of time before metaverse platforms become a new era reality of the global business environment. So if you aspire to become big in the digital realm, you better pull up your socks and start focusing on this phenomenon of digitally connected universes called – the metaverse.
The opinions expressed above are those of the author.
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