Munich. It creates completely new ways to use the Internet – and thus also offers opportunities for large companies. We’re talking about the “Metaverse”, a kind of virtual and three-dimensional extension of the real world. In it you can live, work, learn, shop and have fun as a digital twin or avatar.
Two-thirds of Germans have never heard of the Metaverse
“The Metaverse is one of the most exciting visions of our time,” said Bernhard Rohleder, CEO of the Bitkom Association, which represents the digital industry. “Companies present their products in the Metaverse, open virtual branches and look for new employees in the Metaverse. There are also completely new possibilities for the educational offer.” The Metaverse is based on established technologies that are still being developed. In addition to artificial intelligence (AI), this also includes blockchain and virtual and augmented reality. Initially, you can mainly experience it on a PC, smartphone or with virtual reality glasses, but in the future this will probably also increasingly be the case with augmented reality.
This all sounds like pie in the air. For example, a survey by Bitkom shows that only 5 percent of Germans dare to explain the term metavers. About two-thirds of people have never heard the word. However, awareness is growing rapidly. Management consultancy McKinsey predicts that the Metaverse could be worth $5 trillion by 2030, with trade as the main driver.
An important building block for the future viability of the business location
Because of these opportunities, the Bavarian Entrepreneurs Association (vbw) promotes new digital technologies such as the Metaverse to become more deeply embedded in the thinking of companies. “Our goal must be to spread the technology and fully exploit its enormous economic potential,” said Bertram Brossardt, CEO of VBW. “This is an important building block for the future security and long-term competitiveness of our business location.”
The metaverse can be used in many areas of the value chain. “In this way, mechanical processes can be simulated or maintenance work simplified using digital twins,” says Brossardt. Virtual product presentations or training and education content can also become more efficient and less expensive.
It is clear to vbw that companies not only have to take the step to the virtual world, but also have to be internationally competitive there. “We are currently in an early stage of the technology, where we can certainly not yet estimate the full potential for the economy,” says Brossardt. “But one thing is clear: we have to set the course for this now.”
Consumers can look forward to that
- Free time: In the virtual world you can attend events such as concerts, theaters or other live events.
- Shopping: New technologies enable a more intensive and better shopping experience.
- Travel: Tourists can get a realistic picture of their travel destination with little effort.