WHAT IS IT?
Technology-driven hybrid working across enterprises. This disruptive change continues with renewed vigor. New disruptive technologies include the Metaverse and Web3.0, automated systems, and Artificial Intelligence (AI)-powered devices, including better chatbots and robots.
WHY IMPORTANT
Investment bank Goldman Sachs sees the Metaverse as an $8-trillion opportunity. And according to JP Morgan the economics of the Metaverse – or metanomics – offers opportunities in almost every area of business with a market opportunity of $1 trillion in annual revenue in a few years. Early this year, JP Morgan became the first bank in the US to open a lounge in the Metaverse, Decentraland. Decentraland, powered by the Ethereum blockchain, lets users buy plots of land with MANA cryptocurrency (used in transacting in the Metaverse).
Analyst firm Gartner predicts that by 2026, one-fourth or 25% of the world’s internet users will spend at least an hour a day in the Metaverse for working, shopping, learning, social interactions, etc.
