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Nokia Touts Power Of Metaverse For Enterprise
By Vishakha Thakur
Metaverse is transforming enterprise business paradigms all across the globe. It has the potential to generate new opportunities for growth as well as new cost and efficiency benchmarks for enterprises. According to a recent study by Nokia and Ernst & Young, the industrial metaverse is an extension of Industry 4.0.
The research focused mostly on industry sectors such as automotive, industrial products and manufacturing, transportation, supply chain and logistics, and power and utilities. In the survey, nearly 860 business leaders from six countries participated. Geographically, the United States with 65%, the United Kingdom with 64%, and Brazil with 63%, all lead the way in terms of firms that have deployed at least one industrial or enterprise metaverse use case.
Now if we talk about other countries…it was a different scenario in Germany with 53%, while Asia Pacific was even more behind, with Japan and South Korea each having 49%. The interesting part is that companies that have already deployed industrial metaverse use cases are seeing more reported benefits than those who are still in the planning phase, particularly in the areas of capital expenditure reduction, sustainability, and safety improvement..
Simply put, the industrial metaverse is defined by Nokia as physical-digital fusion and human augmentation centred on industrial applications. Participants can control, monitor, and interact with digital representations of physical industrial environments, systems, processes, assets, and spaces. Well, enterprises found the greatest potential of the metaverse in training, onboarding, and upskilling the workforce. It can also improve product design and procedures. Cloud computing, Artificial Intelligence and network connection, particularly 5G/6G, are thought to be the most significant main technical enablers for metaverse application.
Nearly 58% of organisations with future metaverse plans have already deployed or piloted at least one metaverse-related use case. Almost all 94% of those who have not yet started their voyage to the metaverse want to do so within the next two years.
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