Alexander is the co-founder and CEO of Streamline Media Group, where he writes on video games, diversity, and the metaverse.
The metaverse first appeared in ordinary life as a kind of entertainment, but it took a global epidemic to accelerate its adoption by corporate culture. Most businesses were compelled to rethink their operations as a result of the epidemic, with many opting to abandon the office in favour of a digital future.
Business leaders have acknowledged that we are now in a new era of work, and that old business strategies are no longer relevant. Many people realise that in order to succeed, they must take advantage of the metaverse's advantages.
IF YOU DON'T ADAPT, YOUW'LL BECOME OBSELETE
Creative destruction is an economic theory that explains how innovation helps forward-thinking enterprises replace companies that fail to adapt to technological advancements.
Consider how many businesses have gone out of business as a result of their inability to adapt to the digital age. When you add in the disruption of a worldwide epidemic, you have an economy where only those who change their ways will survive.
The tech industry, where firms must continually reinvent themselves to keep up with and outperform the competition, can teach organisations how to navigate these disruptions.
The metaverse is the network that most IT businesses are hoping to use in the future.
Bill Gates, for example, believes that in two to three years, work sessions would be moved to the metaverse. When working with colleagues, holding business meetings, and connecting with clients, video conferencing loses the human element of an in-person conference, however the metaverse offers a realistic human experience. Hardware will continue to develop, and when it does, the technology will be widely used.
IN THE AGE OF REMOTE WORK, HOW DO YOU MANAGE?
Only 20% of people worked from home prior to Covid, but that percentage jumped to 70% during the epidemic, and even as early as December 2020, 54% of individuals expressed a desire to continue working from home after the pandemic ended. The ability to work from anywhere is based on trust and a track record of delivering outcomes. Today's teams are more than capable of achieving results remotely because to clear communication, organisational processes, and infrastructure.
Working remotely increases the potential of miscommunication, therefore teams must work together to ensure that everyone understands their position and objectives. Leaders must be clear about what they require and maintain an open line of communication with staff to assist everyone in adapting to the new circumstances. By promoting collaboration and illustrating what is required through action rather than words, the metaverse can assist.
When working remotely, it's critical for individuals in charge of global businesses to recognise that each team has its own set of strengths and shortcomings. Each office must feel confident in their ability to complete their tasks while also experiencing a sense of kinship with their far-flung colleagues. The metaverse fosters this spirit of cooperation by allowing many offices to work together in ways that foster creativity and friendship.
COLLABORATION IS ENCOURAGED IN THE METAVERSE
Whether it's because of a global pandemic or because your client is in another nation, distance makes collaboration difficult. Video calls lack the necessary social structure for productive collaboration. The metaverse, on the other hand, has significance in bringing individuals together in a common area in order to encourage creativity. It is the only device capable of accurately simulating an in-person brainstorming session.
Furthermore, the metaverse allows for real-time feedback amongst project teams, enabling for quick changes that save time and money. An architecture firm might provide a metaverse preview of a client's building, allowing the client to digitally inspect and explore the structure. It's one thing to view 3-D models; it's quite another to really be within one.
THE METAVERSE AS A TOOL FOR CUSTOMER SERVICE AND TRAINING
Meetings aren't the only way to use the metaverse for business. Companies can train employees remotely, providing "hands-on" training in a setting that teaches people how to do their jobs and allows them to see if they're a good fit for them. MGM, for example, is already using the metaverse in this fashion. MGM Resorts partnered with Strivr to allow potential workers to check out their jobs in virtual reality before accepting a job offer. MGM saves time and money by not having to train and replace someone who leaves after a short period of time if they decide the work isn't for them.
For other businesses, the metaverse can be quite useful in providing customer service. Rather of the traditional (and unpleasant) support phone contact, the metaverse can allow support staff to physically walk consumers through the process of resolving their problems. This saves time and money for the company, as well as providing a better client experience by removing irritation.
CHANGES IN THE WORKFORCE
Many people have had to reconsider their goals, how they want to work, and for whom they want to work as a result of Covid. Seventy-eight percent of worldwide knowledge workers increasingly want to work from home. Companies can use the metaverse to allow their workers to work remotely while yet guaranteeing that the business's needs are satisfied.
Work-from-home allows firms to recruit talent from a variety of backgrounds, in addition to giving workers with the work environment they choose. Commitment to encouraging different perspectives is critical to a company's evolution because it allows the company to benefit from individuals who bring new ideas and perspectives. This process is made much easier by the metaverse, which allows businesses to demonstrate to clients and partners that they understand what it takes to compete in global marketplaces.
Those that do not innovate risk being displaced, as we can see from the concept of creative destruction. Embrace the benefits of the metaverse rather than becoming obsolete.
IS THE METAVERSE CAPABLE OF RADICALLY ALTERING HOW WE WORK, OR IS IT ALL A RUSE?
Is the Metaverse just a marketing buzzword, or is it a long-term movement for businesses? The answer is yet unknown, but we do know that new firms like as Binanance and Tencent are rapidly joining the Metaverse industry, providing businesses new alternatives for employees who wish to work in both a parallel universe and the actual world.
To make this next jump in technology available to enterprises and the bulk of the public, the initial expenditure must be considered in. When R&D scales the solution while keeping pricing competitive, it is possible to democratise the Metaverse. As a result, everyone, not just the fortunate few, benefits from the Metaverse. The more people who join the Metaverse, the more links and better communications this channel creates. The Metaverse has a lot to offer businesses, especially as costs come down. From increased employee engagement (unrestricted by physical limits) to improved and more efficient production, thanks to specialised tools available in the Metaverse that would otherwise take time and effort to integrate or develop in the office, the Metaverse has it all.
OTHER ADVANTAGES OF USING THE METAVERSE AT WORK
Enhanced communication: Thanks to its immersive technologies and individualised Avatars that imitate each participant's movements and actions, it can incorporate all six modes of communication – spoken, nonverbal, physical, written, visual, and listening.
At your fingers are powerful tools: With so many options, running out of resources is nearly impossible. Every participant has immediate access to a wealth of tools (boards, graphs, photos) that can instantly elevate their message and explain with examples whether discussing projects, brainstorming, or reporting to management.
Permanent connectivity: Because everything may be accessed at any time, coworkers aren't bound by time. This isn't to mean that employees will be able to access the office at all hours of the day or night. At a hybrid work model, where workers work from all over the world and across many time zones, it's critical that everyone on the team has equal access to information, virtual offices, and resources, whether they're in the physical office or not.