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Metaverse: Must CXOs Pay Attention to Virtual Reality?


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The ‘metaverse’ has become a hot topic for executives, analysts, and investors. Many executives have started weaving mentions of it into discussions with investors. However, many business leaders are unsure how the metaverse specifically helps their organizations. So, how can this virtual reality help you thrive in an ever-evolving marketplace? In this article at CIO.com, Thornton May explains the metaverse’s transformative potential.

Metaverse: Can Virtual Reality Help Your Business?

According to studies, only a few executives believe that Meta’s virtual reality will bring endless opportunities to work, engage, and interact. Most chief executive officers (CXOs) see the metaverse as either not applicable or unlikely to be a key technology for business. On the other hand, some experts believe CXOs might be disadvantaged if they do not invest in virtual reality, especially in the retail sector. “So, if the potential is something that can be realized, perhaps IT leaders will soon find themselves in the third group, having been left behind, if they don’t start investigating soon,” says May.

What’s Next for Businesses?

Virtual reality for businesses is no longer just a concept — but the future of work. Of course, the shift to the metaverse cannot happen overnight. It will undoubtedly take time for meta to become mainstream, but once it does, its potential to transform business is unparalleled, according to experts. A Goldman Sachs study sees potential for the metaverse to grow into a US$8 trillion market by 2025. Furthermore, other studies indicate that supply chain companies will invest significantly in the metaverse.

However, CXOs must consider various use cases and risks before investing in the metaverse. Extensive research and planning will help executives unlock new possibilities. Additionally, they must thoroughly examine security and privacy concerns to offer a safe platform for their customers, stakeholders, vendors, and employees.

To read the original article, click on https://www.cio.com/article/405380/metaverse-the-time-for-cios-to-experiment-is-now.html.

The post Metaverse: Must CXOs Pay Attention to Virtual Reality? appeared first on AITS CAI’s Accelerating IT Success.

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