{"id":28392,"date":"2023-01-07T04:07:40","date_gmt":"2023-01-07T04:07:40","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/07\/enterprise-support-for-the-metaverse-flourishes-at-this-years-ces\/"},"modified":"2023-01-07T04:07:40","modified_gmt":"2023-01-07T04:07:40","slug":"enterprise-support-for-the-metaverse-flourishes-at-this-years-ces","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2023\/01\/07\/enterprise-support-for-the-metaverse-flourishes-at-this-years-ces\/","title":{"rendered":"Enterprise support for the metaverse flourishes at this year\u2019s CES"},"content":{"rendered":"

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Much of what has been written about the metaverse in 2022 centered around two words: failure<\/a> and bust<\/a>. Yet it appears that many of the 100,000 attendees and presenters at the CES 2023<\/a> consumer electronics show in Last Vegas this week hold a different view.<\/p>\n

From the industry research<\/a> released this week by the Consumer Technology Association to standing room-only metaverse sessions at the conference, the message was hard to miss: The metaverse, a shared, immersive 3D visual digital space to experience life as an alternative to the physical world, is coming and the enterprise will be a key driver.<\/p>\n

\u201cWhat the metaverse really represents is the next generation of the internet,\u201d\u00a0Steve Koenig<\/a>, vice president of research for the Consumer Technology Association, said in a CES presentation on Tuesday, echoing the sentiment of Meta Platforms Inc. Chief Executive Mark Zuckerberg. \u201cThis is Web3 in a much more interactive and compelling experience. The metaverse is closer than you think. Make no mistake, this is a real trend.\u201d<\/p>\n

Rising interest<\/h3>\n

What\u2019s making the metaverse more real is a notable rise in interest among both consumers and businesses for metaverse use cases. Earlier this week, Accenture PLC released research findings<\/a> during CES that showed more than half of consumers surveyed view the metaverse as a business opportunity and 88% of C-suite executives believe the metaverse will have an important role in their organizations\u2019 future growth.<\/p>\n

\u201cThe majority of consumers want to live some part of their life in the metaverse,\u201d\u00a0Kevan Yalowitz<\/a>, software and platforms industry lead at Accenture, said in an interview with SiliconANGLE. \u201cWe think that\u2019s a pretty notable data point.\u201d<\/p>\n

Another notable data point is 150,000. That\u2019s how many new Accenture employees were onboarded during the pandemic through the use of virtual reality headsets, according to Yalowitz.<\/p>\n

\u201cThere\u2019s a real desire to do other specific things in the metaverse, and there seems to be a willingness now to explore VR headsets,\u201d Yalowitz noted. \u201cWe believe that if this were to hit scale broadly in the enterprise, it will trickle over into consumers.\u201d<\/p>\n

Enterprise value<\/h3>\n

One example of how enterprises are gravitating toward the metaverse can be seen in the transformation of Magic Leap Inc. The 13-year-old company has struggled<\/a> to deliver a transformative VR product despite a total of $3.5 billion<\/a> in funding. Former Qualcomm Inc. and Microsoft Corp. executive Peggy Johnson<\/a> took over as CEO in 2020, and Magic Leap pivoted<\/a> to an immersive augmented reality device tailored for the enterprise market.<\/p>\n

In a sign of the metaverse\u2019s growing role in the tech world\u2019s agenda, Johnson joined<\/a> Advanced Micro Devices Inc. CEO\u00a0Lisa Su<\/a> on the CES keynote stage<\/a> Wednesday evening to highlight use of the chipmaker\u2019s custom processor in advanced augmented reality systems for industrial and healthcare use cases.<\/p>\n

\u201cEnterprise is where the value is today,\u201d Johnson said during an appearance at a CES metaverse panel session Thursday. \u201cWe need enterprises first and ultimately consumers to understand what this technology can do.\u201d<\/p>\n

Metaverse adoption is already beginning to transform industrial manufacturing<\/a>. The use of digital twins to simulate real-world objects such as factory floors or aircraft engines is being driven by Siemens AB, the multinational German industrial manufacturing company.<\/p>\n

\u201cCustomers over the years have been using the digital twin to define products faster and manufacture them better,\u201d said Dale Tutt<\/a>, vice president of industry strategy at Siemens Digital Industries. \u201cAs customers are starting to move into the metaverse and explore it, it\u2019s been an extension of what they are doing already.\u201d<\/p>\n

Healthcare tool<\/h3>\n

The application of metaverse tools to existing practices is also making inroads in the healthcare industry. Osso VR<\/a>, for example, provides a surgical platform that offers healthcare professionals a way to leverage immersive tools for important training. VR is emerging as a resource for surgical education.<\/p>\n

\u201cWe know that an increased volume of surgery decreases complications,\u201d\u00a0Dr. Cory Calendine<\/a>, orthopedic surgeon and founding partner at the Bone and Joint Institute of Tennessee and member of the advisory board at Osso VR, told SiliconANGLE. \u201cVR is such a genuine authentic way to experience the operating world. It\u2019s decreasing the cognitive load for the surgeon.\u201d<\/p>\n

As with much of the enterprise world, one of the key factors propelling the metaverse forward is growing influence and adoption of artificial intelligence. The metaverse represents a blending of multiple technologies, from AR and VR to 3D modeling, 5G, spatial and edge computing, and Web3 tools such as the blockchain.<\/p>\n

\u201cThe interest in the metaverse is because it\u2019s bringing together multiple disruptive technologies,\u201d\u00a0Neil Trevett<\/a>, vice president of developer ecosystems at Nvidia Corp., said during a panel discussion at CES on Thursday. \u201cThe magic pixie dust is AI.\u201d<\/p>\n

Touchcast Inc.<\/a> is a virtual events platform powered by artificial intelligence. On the show floor at CES this week, Touchcast and Microsoft\u00a0unveiled<\/a> the Fiat Metaverse Store, a virtual automotive showroom where customers can experience, configure and even purchase the new 500 La Prima by Bocelli car.<\/p>\n

\u201cAI and machine learning are starting to bring a look that feels authentic,\u201d\u00a0Jason Waskey<\/a>, principal creative director at Microsoft, said during a metaverse track session. \u201cHow are we going to be able to integrate authentic human presences into this experience?\u201d<\/p>\n

Leveraging business opportunity<\/h3>\n

The answer to Waskey\u2019s question may lie in our pockets. Major enterprise technology players have begun experimenting with augmented reality applications for mobile platform users. Telstra Corp., Google LLC and Accenture PLC have collaborated<\/a> on a 5G-powered AR wayfinding experience that helps attendees at Australia\u2019s Marvel Stadium locate their seats. Last month, Google staged virtual concerts<\/a> in New York\u2019s Times Square and London\u2019s Piccadilly Circus featuring the Gorillaz virtual band and accessed via mobile devices.<\/p>\n

\u201cWhen you get all of these technologies all together, interesting stuff is going to happen,\u201d said Trevett. \u201cIt will just gradually creep into our lives and create a way for business opportunity.\u201d<\/p>\n

The development of business opportunities surrounding the metaverse will be worth watching in 2023. While major enterprise players such as Google and Microsoft showcased metaverse tools at CES this week, market opportunities are nurturing a growing ecosystem of companies who are building for the space. One of these is the Futures Intelligence Group<\/a>, a metaverse consultancy that was acquired<\/a> by Journey Corporate Holdings only 10 months after its founding.<\/p>\n

Futures Intelligence was led by former Amazon Web Services Inc. and Magic Leap executive Cathy Hackl<\/a>, who is now Journey\u2019s chief metaverse officer. Journey works with top brands on metaverse strategies and virtual fashion, with a continuing focus on bridging the digital world with physical reality.<\/p>\n

\u201cWe believe the physical world is part of the metaverse, it just hasn\u2019t been fully enabled,\u201d Hackl said during a panel discussion at CES on Wednesday. \u201cIn the metaverse we are all world builders and now is our time to build.\u201d<\/p>\n

Photo: Consumer Technology Association<\/h5>\n
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