Prepare Today for Tomorrows Metaverse

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Should your business plan to participate in the metaverse?

Apr 23, 2024

Managed AI Services, Managed IT Services

Should your business plan to participate in the metaverse?

These statistics may help answer that question:

Tech analysis firm Gartner forecasts a quarter of the world’s population will spend at least an hour in the metaverse by 2026.
Those same Gartner studies predict a third of all businesses will have products and services ready for the metaverse by that same year.
Business consultants at McKinsey foresee that more than half of live events will be held in the metaverse by the end of this decade, a trend that could impact 80% of global commerce.

What is the metaverse?

In conceptual terms, it’s a convergence of physical and digital realms resulting in a 3D virtual space where digital identities work, shop and socialize using avatars. They can move from one experience to another in real time using real currencies for commerce.

Technologically, it’s an evolving business ecosystem of virtual reality (VR), augmented reality (AR) and artificial intelligence (AI).

Why prep now? Because along with huge growth potential, the metaverse represents escalating digital risk – offering cybercrooks new platforms for stealing data and perpetuating fraud.

Here’s a 3-step plan that lays crucial groundwork:

Create a clear, comprehensive cybersecurity policy.
Emphasize systems monitoring and maintenance.
Launch a core program strictly managing devices, closely controlling network access and regularly patching software.