Tech Watch: What Do Tech Experts Really Say About the Metaverse?

Experts are divided on the likely development of metaverse. Some expect improvements in people’s daily lives. Meanwhile, many worry that current online problems could be exacerbated if the metaverse is led by the tech giants that created today’s dominant web platforms. 

The term "metaverse" has become the hottest topic of conversation in the tech industry, surpassing both cryptocurrency and artificial intelligence. This is especially true since Mark Zuckerberg renamed Facebook "Meta," a move that clearly signals the company's future direction.  

The concept is still vague and unclear, but the metaverse can be compared to is just as difficult to explain as the internet was in 1982. Perhaps even more so, since no metaverse yet and there is still no clear picture of exactly what it will entail. The vision presented by Microsoft does not necessarily align with the one Mark Zuckerberg is painting. The definition has not yet been fully established or agreed. But we interpret it as an extension or a successor to today’s internet.  

What will the metaverse look like?

The metaverse does not necessarily have to be just a single place or platform. Nor can it be developed by a single tech company. Creating a metaverse requires that various virtual worlds and platforms interact with one another. The metaverse is predicted to exist in various applications, games, everyday internet activities, web platforms, and a variety of other functions. Some may involve daily interactions with augmented reality apps that people use on their computers or phones. Other interactions may take place in more immersive domains within gaming or fantasy worlds. At the same time, it may occur in “mirror worlds” that replicate real-world environments. But we’re curious about how this will simplify internet management and connectivity.  

As a result of the COVID-19 pandemic, remote work and online social interactions have been the driving force behind the development of the metaverse. Tens of billions of dollars have been poured into new investments, and predictions suggest that the metaverse is “the future of the internet”.  

What do the experts say?

Advocates of XR and the development of advanced online 3D worlds say that its rapid development is likely to benefit all aspects of society. They believe that the development of more data could improve public services, healthcare, people’s daily activities, and advancements in artificial intelligence (AI) support systems. As with all digital technology, there are, of course, concerns about health, safety, privacy, and economic consequences when technology takes up too much space in society.is why a great deal of time and attention is being devoted to what the maturation of XR and the metaverse will look like and what it will mean for society. 

Fact: XR is an abbreviation for Extended Reality. It is an umbrella term that encompasses the combination of Virtual Reality, Augmented Reality, and Mixed Reality. Devices said to be capable of XR can deliver experiences for all three. 

The Pew Research Center and Elon University’s Imagining the Internet Center conducted a survey by interviewing technology experts and asking them to share their insights on the metaverse. A total of 624 technology innovators, developers, business and policy leaders, researchers, and tech activists participated. The survey gave the experts the opportunity to express themselves freely on the topic through open-ended questions, allowing for insights into their predictions about the metaverse without leading them. 

The majority of experts (54%) believe that the metaverse will be well established by 2040. They believe the metaverse will be a significantly more established, refined, and well-functioning concept. The experts believe the metaverse will be part of everyday life for half a billion or more people globally. The remaining 46% do not believe the metaverse will have become established by 2040, but that it will come in due course.   

How will society be affected by the metaverse? 

On an individual level this would mean that people could socialize with friends or potential new friends no matter where they are. Furthermore, it would provide a much richer and almost real-life experience compared to video calls or chat. In the future, people won’t need to connect via the same channel or social media; instead, multiple platforms will be able to communicate with one another and remain connected.  

From a security perspective, this aims to bridge the distance gap and further globalize our world, yet it poses an equal threat to the inequality gap. Fiber vs. the internet is one such gap that widens the digital divide and differentiates experiences and development. This will inevitably play a role here as well, where we can assume that those who cannot afford a phone will not be the first to buy a VR headset or similar devices. Another aspect to consider is security and how we can protect individuals and privacy while we are always online. In a way, we already are, but considering that we as people will travel as data between networks rather than as a chat message, it is definitely worth taking into account. 

The Metaverse in the Office of the Future 

For businesses this will opena  a range of opportunities. VVirtual offices will become a reality and something we’ll never experienced before.. Companies with offices in different countrieswill be able to feel much more connected. This means that we in principle be be able to participate in meetings with international colleagues and even attend a virtuala After Works. Fcompanies could hire more international employees without them having to relocate. Another useful benefit for companies is that they can train and hold courses for employees using simulations to train employees in various techniques without having to be physically present on-site. This thus opens up opportunities for virtual training, which is just as critical for employees as it is for companies. 

Metaverse is predicted to to impact industries within theretailn and industries in the automotive, banking, finance, and manufacturing sectors the most. This will mean new and exciting ways for companies to connect with customers and build deeper and more meaningful relationships with their existing customers. 

Metaverse & Salesforce 

Just like anyany business investment must yield a return, the metaverseis is no exception. Although customer engagement and relationship building are good reasons to run a metaverseinitiative, a sustainable initiative must also create value for the business by unlocking new revenue streams and generating viable leads , or generate more robust customer insights. 

That’s where Salesforce comes in. By integrating your metaverseinitiative with your existing Salesforce toolkit, organizations can track, unify, and activate data from new experiences across their Customer 360. Metaverse starts with an potential silo–initiative to a value-driving factor for sales, marketing, and operations. 

How wouldetaverse be be integrated into Salesforce? 

1. The customer or prospective customer enters the metaverse and interacts with various features. 
2. All user activity, including reactions, comments, and time spent on each component, is collected and saved. 
3. Data from the metaverseexperience is integrated with other Salesforce data via MuleSoft.
4. The data provides a Customer 360-degree profile and segmented customer segments.
5. Sales and marketing teams can access data through Sales Cloud, Marketing Cloud, and Tableau. They can create tasks or campaign elements that are hyper-personalized to each customer’s needs and interests. 

How do you ensure that the metaverse generates value for the business? 

Start small. As with any new technology or platform, it takes time to build up. Organizations that are new to metaverse can start with relatively simple experiences to understand this new world and determine how and where to engage their target customers. 

Integrate early. Organizations should approach the metaverse strategically from the start. By this, we mean that companies should ensure they integrate data from the metaverse with their Salesforceteand stack using MuleSoft. This helps the organization get value from its initial investment in metaverse and sets it up for success as engagement becomes more complex. 

Work with the pros. The metaverse is a new and emerging field—and most organizations will need help defining a strategy that meets their needs. It’s important to choose a partner with deep and diverse metaverseexpertise and the ability to rethink business models, bring them to life, and integrate them across your entire tech stack—including Salesforce. Get in touch with us. 

In summary, the Metaverse raises a number of questions, some positive and some negative. With time, technological advancements, and dedicated policy efforts, some of these will likely be answered, but it is still too early to predict exactly how things will turn out. However, we are excited to see how this will unfold—for individuals, globally, and for businesses alike. The Metaverse may be an undefined concept and not yet established. But we will keep our eyes and ears open, curious about what lies ahead.