With the introduction of metaverse, changes have been implemented in the fields of training, education and work. Richard Ward, Mckinsey expert, spoke about the metaverse technology and its anticipation of bringing out new business opportunities for shaping the world’s business scenario, in his latest blog.
The implementation of virtual reality (VR) and augmented reality (AR) have helped people learn and comprehend the world around them. The manual way of learning is shaping into something innovative with the use of metaverse instruments. “This technology is very powerful in terms of helping people learn things that are manual or tactile in the hand and that involve muscle memory. Much of the world does this type of work, and to be able to make the training for it more efficient and higher quality is a very exciting story, ”Ward said.
It is believed that non-fungible tokens (NFTs) and other financial services have tapped into the potential of various asset classes, including digitization of loans. “There was a report recently about a firm issuing a mortgage for a virtual real estate deal in one of these digital, proto-metaverse environments which was essentially a collateralized loan, but still it’s very exciting that these kinds of concepts flow through this new digital setting. The thing that adds interest to this is the use of NFTs which involves a lot of foreign exchange activity, ”Ward added.
Real business opportunities are expected to be available to business executives, and metaverse is expected to play an important role. The metaverse’s way of improving talents and skills is expected to improve productivity and efficiency. There have been concerns regarding the area of networking, and the possible infringement of personal data. “The metaverse itself is an experiential technology, so the thing that you really are going to need to do is some on-ramping and trying some things out, He concluded.