A new report from Accenture (NYSE: ACN) reveals that the “Metaverse Continuum,” a spectrum of digitally enhanced worlds, realities, and business models, is redefining how the world works, operates and interacts. According to Accenture Technology Vision 2022, “Meet Me in the Metaverse: The Continuum of Technology and Experience Reshaping Business,” businesses are racing towards a future that is very different from the one they were designed to operate in — as technologies, such as extended reality, blockchain, digital twins and edge computing, are converging to reshape human experiences.
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To help organizations take advantage of this opportunity, Accenture is launching the Accenture Metaverse Continuum business group. The new group will be led by Paul Daugherty, group chief executive – Technology and chief technology officer at Accenture and David Droga, CEO and creative chairman of Accenture Interactive.
“The next generation of the internet is unfolding and will drive a new wave of digital transformation far greater than what we’ve seen to date, transforming the way we all live and work,” said Patama Chantaruck, Country Managing Director, Accenture Thailand. “Our vision of the metaverse as a continuum challenges prevailing, narrower views and highlights why organizations must act today, or find themselves operating in worlds designed by, and for, someone else.”
As part of the report, Accenture surveyed more than 4,600 business and technology leaders across 23 industries in 35 countries, including Thailand. At this early stage, 71% of global executives believe the metaverse will have a positive impact on their organization and 42% believe it will be breakthrough or transformational. Based on the data surveyed from Thai executives in the same report, 72% of Thai executives also agree the metaverse will have a positive impact on their organization but only 26% believe it will be a breakthrough or transformational.
“It’s notable that the survey findings from the Thai executives in the same report mostly align with the global results,” added Patama Chantaruck. “However, a slight difference can be derived from the survey’s findings between Thai executives, which provides implications that many Thai businesses may not yet be embracing the new technologies due to concerns about data security, as compared to their global counterparts.”
The Accenture Technology Vision 2022 report identifies four key trends that companies will need to address:
- WebMe: Putting the Me in Metaverse – Enterprise strategies are built for the internet of today, a digital world where platforms often lack interoperability and data portability. Metaverse and Web3 are poised to reshape the internet; rather than it being a disparate collection of sites and apps, looking ahead, the metaverse will lead to a persistent 3D environment in which moving from one “place” to another will be as simple as walking from one room to another. Ninety-five percent of executives believe that future digital platforms need to offer unified experiences, enabling interoperability of customers’ data across different platforms and spaces.
- Programmable World: Our Planet, Personalized – As emerging technologies, such as 5G, ambient computing, augmented reality and smart materials advance, digital environments will be increasingly woven into the fabric of our physical world. These environments will reshape not just how people engage with worlds, but also redefine everything built in it, how people sense and interact, and the control they have over it. Tellingly, 92% of executives agree that leading organizations will push the boundaries of the virtual world to make it more real, increasing the need for persistence and seamless navigation between the digital and physical worlds.
- The Unreal: Making Synthetic, Authentic – Businesses and environments are increasingly supported by AI-generated data that convincingly reflects the physical world. More than ever before, AI is top-of-mind for businesses, as companies and consumers alike shift away from considering what is real versus fake, to what is authentic—not just in terms of a company’s content and algorithms but its entire brand. With the unreal world about to become reality, now is the time for leaders to ready their businesses. Already, 96% of executives report that their organizations are committed to authenticating the origin of their data and genuine use of AI.
- Computing the Impossible: New Machines, New Possibilities – The emergence of a new class of machines is empowering organizations across industries to stretch the boundaries of what computers can solve. Tools like quantum computing and biology-inspired computing are allowing businesses to solve problems that may be too expensive, inefficient, or flat out impossible for traditional computing. As “grand challenges” become trivial operations, how enterprises compete, provide value and partner will radically change; nearly all (94%) executives agreed that long-term success will depend on leveraging next generation computing to solve seemingly intractable challenges.
Forward-looking companies are simultaneously navigating the uncertainty of today’s markets while beginning to compete in the Metaverse Continuum. For example, Magnolia Quality Development Corporation Limited (MQDC), one of Thailand’s leading property developers, is collaborating with Accenture to chart its metaverse journey, reimagining the user experience and augmenting daily lives beyond imagination. Tapping into Accenture’s creativity, technology, and industry depth, MQDC aims to develop a fully functional and sustainable metaverse economy where users have greater choice and control over how they work, live, play, and learn while building a greater sense of community and culture. This collaboration will support MQDC’s strategic ambition to help people and society live sustainably in an era of digital transformation.
For 22 years, Accenture has taken a systematic look across the enterprise landscape to identify evolving technology trends with the highest possibilities to disrupt businesses and industries. For more information on this year’s Accenture Technology Vision 2022 report, visit www.accenture.com/technologyvision or follow the conversation on Twitter at #TechVision.