The path of the metaverse has only just begun and there are many unknowns that open up about its evolution in the coming months. While expectations are high, PwC points to six key trends that shed light on what companies can expect in this new world.

Yes ok the metaverse It still has a long way to go, organizations can already begin to take advantage of many of the benefits it offers over the next few months. Where will its adoption proliferate more, which Technologys will advance faster, or how to act without putting the organization at risk are some of the keys that PwC reels in these six predictions about the future of the metaverse.

Businesses will be the power users of the metaverse

Much of the conversation around the metaverse in 2022 was about consumers, especially younger ones. Activities like games, virtual experiences o Purchases with cryptocurrencies and other digital assets will continue to grow, but we believe commercial applications will take the lead.

More and more companies are beginning to simulate physical operations in the metaverse. Retailers, for example, can digitally recreate physical stores and then let customers and employees virtually try out different setups to see what increases satisfaction and sales.

To complete the bridge between the consumer and business metaverses in the coming years, it is also expected to see more products and services Metaverse-specific: avatar-powered contact center support, financial education, telehealth, and fully immersive new commerce experiences.

Trust, Key to Metaverse Success

According to PwC, metaverse initiatives will further increase or decrease in the trust than in functionality. Business leaders will need to balance bringing their operations and customers into a metaverse space that offers an incredible experience while allowing you to feel safe.

The metaverse does not require a new approach to risk management, as you can use what you already have as long as you adapt it to manage new risks and deepen trust. For responsible use of the metaverse, there are six main areas of new trust and risk considerations, covering new developments in economics, data, governance (including cybersecurity), digital identity, user experience, and persistence.

To manage the risks of the metaverse, the guiding principle is to design trust from the beginning, and at all times

To manage the risks of the metaverse, the guiding principle is to engineer trust from the start, and at all times. By integrating risk management into metaverse initiatives while they’re still on the drawing board, you’re less likely to need costly fixes later.

AI to drive transformation

For PwC, technology that they believe will be critical but still transformative will be artificial intelligence (AI)as you can get insights from data and simulations, such as what metaverse avatars buy or do, how they play or work, who they know, and how they interact with brands.

AI can make it possible for even those with no technical background to create immersive metaverse experiences. It can also push more and more “digital humans”computer-generated avatars that look realistic and perhaps inspire people to interact with them as they would other humans.

These developments will introduce new risks and accentuate old ones, including potential bias, forgery, and abusive experiences. They will also almost certainly trigger new compliance challenges, with new metaverse-specific regulations for AI.

The best way to move forward with AI in the metaverse is to implement a responsible AI, so that it does what the user or company wants it to do. The advancement of AI in the metaverse can also be a good lever to update the data strategy and governance in general.

The metaverse will redefine the agenda of every business leader

In PwC’s ‘Metaverse’ survey, 82% of executives said they expect metaverse plans to be part of their business activities within three years. With the metaverse potentially everywhere, every top executive should play a role, and some non-tech executives can be especially crucial.

Non-tech managers will need to work closely collaboration with each other and with the chief digital, innovation, information, and information security officers who will create—and protect—your enterprise’s metaverse infrastructure, experience, and data pipelines.

Many teams will need to improve their skills and strengthen the lines of communication between managers

Many teams will need to improve their skills, but that will not be enough and it will be key to give one the authority to govern all the activities of the metaverse of your company, and one of your priorities will be to strengthen the lines of communication among managers.

The metaverse will be a force for good

For organizations concerned with ESG initiatives (environmental, social and governance), the metaverse can be an ally. Metaverse meetings, for example, can replace in-person ones and reduce a major source of carbon emissions: business travel.

By making operations more virtual, freeing them from geographic boundaries and many physical constraints, many more people can be reached and included. However, this potential for the metaverse to be a force for good requires a determination to make it so.

Additionally, with digital tokens, the metaverse can help trace the provenance of raw materials to reduce environmental abuse in the supply chain.

The company will look for skills that it has never needed before

Any new technology requires new habilities. But the metaverse and the Technologys that can support it require some highly specialized ones. Some of these abilities were barely around a few years ago. One example is the need to monitor and validate transactions, collect data, and protect it in the web3 ecosystem, which is growing to support many metaverse activities.

Some companies are betting on teaching basic metaverse skills through the metaverse itself, even with training modules prepared to use. But for new and highly specialized skills, they may need a more aggressive approach: sending your tech specialists for focused training, making new hires, and partnering with third parties who can provide you with key skills will be critical.

So is fostering a culture that can attract and engage creative, cutting-edge technologists.

initial image | james yarema