How the Metaverse Could Revolutionize Industries Beyond Social Media


October 25, 2023

Sharp Decisions
Graphic symbolizing the world of the Metaverse

The metaverse promises rich worlds filled with endless opportunities for fun, creativity, and friendship. Its decentralized Web 3.0 infrastructure allows the new realm to go beyond socialization by supporting practical business applications. As the possibilities come into focus, companies across the tech sector, healthcare, and beyond have started dreaming up ways to leverage the Web3 environment for new growth opportunities.

In the tech industry, mixed reality formats could soon replace 2D video conferencing platforms, creating collaborative workspaces without borders. The blend of augmented and virtual reality could change how tech devices get sold as brands set up showrooms, storefronts, and product demos in the digital space.

Manufacturers like BMW plan to go one step further by using digital twin technology to improve the efficiency of their factories while reducing costs. Within that framework, they can design their factories, run workflow simulations, and make further improvements before finalizing plans.

The healthcare industry stands to see benefits from metaverse integration as well. According to a study by the John Hopkins University School of Medicine, virtual reality training better prepares surgeons for the operating room than reading and video methods. The outcomes rivaled those achieved through physical simulation training and will likely improve in more immersive virtual environments like the metaverse.

There is a future for the metaverse beyond social uses if companies start planning the necessary IT architecture and strategies now. According to Meta CEO Mark Zuckerberg, key features of the Web 3.0 environment may not go mainstream for five to ten more years. There is still time to plan how to apply the technology to your operations and gain a competitive edge in your industry. The effectiveness of metaverse platforms across industries is still hard to predict, but the possibilities are certainly exciting.

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