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For a long time, there has been no end to discussions, debates, and debates about whether the Metaverse is a real business solution. However, there are striking examples backed by real results that companies have successfully leveraged virtual world solutions.
The great journey of Metaverse implementation starts with taking a step-by-step approach. This involves developing so-called metaverse-powered applications — digital twins, interactive platforms, or decentralized smart contracts. By creating a Metaverse-backed app, companies can ensure that it is worth further investment.For example, Boeing has achieved 40% improvement Improving the quality of certain aircraft components and systems through the use of digital twins. So now companies can expand and move to creating business metaverse ecosystems.
Related: Metaverse is the future of commerce. Here’s how to prepare.
What are the technical applications related to the Metaverse?
Internal logic, user-engaged content, and robust infrastructure… developing a well-thought-out metaverse takes a lot of time and effort. At the same time, the optimization of business processes and the high performance of the team are also imminent. Based on Metaverse technology, such applications run as part of a virtual ecosystem of underlying businesses.
Digital twin: A digital twin is a virtual copy of a company’s products. Their main feature is the ability to test functionality and investigate performance issues. This helps to gain valuable insights and suggest next steps to improve the original physical product.
Groupe Renault Consider the digital twin an essential part of their vehicle development process. They use a 3D replica of the car to run immersive simulations and examine literally every part of the future car — from design to engine performance. Additionally, the vehicle digital twin experienced certain virtual car accident and road driving scenarios. This allows the ideal virtual car prototype to be transferred to the production stage.
interactive platform: A web-based enterprise space provides businesses with a wide variety of applications, establishes efficient production workflows and enhances marketing and sales efforts. It also assists in the organization of corporate education events – namely competency-based training, hard skills tests and competitive games to improve employee performance.
deal with Actively leverage their own interactive learning platform to help teams keep their skills up to date, resulting in better company performance. The Henkel Learning Center includes more than 4,000 educational modules dedicated to presentation training, remote leadership and agile working methods.
Decentralized smart contracts: These digital contracts allow companies to automate the workflow of agreement execution. Backed by blockchain, they ensure a secure and clear process for different transactions.
Thanks to smart contracts, Home Depot has created an efficient supplier management system. Transparent communication and improved supply chain visibility are reasons for better relationships with suppliers. This has resulted in less time being spent discussing invoice management issues in the past.
Different companies, different metaverse solutions. But in terms of their implementation, these applications can appear in a large business ecosystem covering all business needs.
Related: What You Need to Know About How the Metaverse Will Affect Business
3 Steps to a Successful Metaverse Ecosystem Development
Innovation is important, but even more important is the way companies approach these emerging technologies. By gradually and skillfully adopting new technologies, a company can eventually become advanced and efficient. So, to create a business ecosystem powered by the Metaverse, consider the following:
1. Define ways to achieve business improvement
Review the current state of business and look at the toughest challenges companies face today. Then, consider all possible metaverse-related technological solutions: digital twins, interaction platforms, and smart contracts. Choose a company that perfectly combines the company’s existing capabilities with the power of the metaverse.
2. Get your first results and move on
By combining only one metaverse-related technical solution, it is possible to evaluate whether that particular technical solution has a positive impact on your business by optimizing processes. If the whole effort proves to be effective, then scale it up.
3. Link all Metaverse assets to build an ecosystem together
To meet the needs of all business units and establish efficient workflows within all business units, create an interconnected solution – Metaverse Ecosystem. Connect all Metaverse-related technology solutions to manage business processes from a broad perspective.
Mars is a great example of how a progressive metaverse approach can benefit businesses, creating digital twins to avoid full packages. The technology enables companies to observe production lines from a bird’s-eye view. As a result, line production managers can monitor performance online and control the filling process.
After achieving great results using virtual twins, Mars decided to scale up.The company aims to create “Factory of the Future” – A cutting edge platform. It will include automation and artificial intelligence features that will help address issues such as waste reduction, water management and greenhouse gas emissions.
Related: Increase Your Online Brand Equity by Entering the Metaverse
The world is changing and digital solutions seem to come in handy. They provide many tools for automation, performance improvement, and insight discovery. as evidence, 71% of technology leaders Think of the Metaverse as being useful and actually making a positive difference to the business.
So, what makes the Metaverse so valuable? As one of the types of business ecosystems, Metaverse helps to save costs and establish efficient workflows within the company. While it’s not always about 3D, it’s more about immersive experiences and user-generated content. This leads to building a strong community around a particular business.
