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18 Jan 2023

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The Business Metaverse Opportunities Are Here, Now

ARMONK, NY (IDCA) - The IBM Institute for Business Value describes the metaverse as a “now” opportunity - “a time to build the foundation for a purposeful future that spans the digital-physical divide by creating tangible, measurable, and sustainable business results,” according to a new report.

The report says the key metaverse themes as immersion, decentralization, virtual econmy, and community. It also identifies five “areas of opportunity...that would otherwise be difficult or impossible to achieve in a purely 2D world.” The five areas are:

1. New product development

2. Manufacturing and supply chain operations

3. Store and space design

4. Associate training, service, and support

5. Enhanced customer experiences

Opportunities in Manufacturing and Supply Chains
In manufacturing and supply chain in particular, the report stresses the use of digital twins and other virtual models that are built to reflect the physical world, then moves on to discuss improving agility through AR/MR and AI-enabled computer vision.

“Distribution centers are full of multi-step, repetitive processes that require speed and accuracy,” it notes. “Focus-intensive tasks such as pick-to-light/put-to-light, assembly, and quality control benefit from AR/MR wearable devices that enable greater hands-free interaction, visual and audio guidance and confirmation to increase accuracy, and ongoing monitoring to help ensure worker safety and manage regulatory compliance.”

For all metaverse initiatives, the report stresses that “the metaverse experience should connect back to the existing business. The key to finding value in the consumer metaverse, especially value that can scale, is based on how immersive experiences connect to the brand, extending the footprint and feeding insights into the core business.”

Photo of BMW manufacturing process from IBM IBV.

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