?? FORECASTS for 2023: HOW to REINVENT BUSINESS in time for the QAIMETA SUPER-BOOM; Part 3: METAVERSE

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?? #FORECASTS for 2023:?HOW to #REINVENT #BUSINESS in time for the #QAIMETA SUPER-BOOM, Part 3: #METAVERSE

??? In the last 2 daily articles I have written about the basic business strategy required for: (1) Quantum Computing; and (2) Advanced Intelligence.

??? Today, I am doing the same for (3) the Metaverse to round out an overall very basic "QAIMETA" composite strategy framework.

??? Companies need to work on all 3 of these strategies simultaneously.

?? METAVERSE APPROACH

??? No matter how the Metaverse evolves, its key concepts are business-relevant today. Business leaders need to take current and future actions now, to benefit tomorrow.

??? Several Metaverse concepts already exist, and others are in process. Adopted correctly, the Metaverse can enrich both employee and customer experience (EX+CX), create virtual-product representations, and market physical and digital products and services.

??? The Metaverse Internet will provide a Mixed Reality 3D digital world where you can buy and sell real goods and services, sign and enforce contracts, recruit and train employee talent, and interact with customers, communities, and stakeholders.

??? Since many Metaverse concepts are already business-relevant, all companies would benefit from taking these 6 steps:

?? NEAR-TERM (3 aspects)

1. Become Meta-Savvy

??? Get familiar with Metaverse concepts and gain the skills and processes to ensure trustworthy digital transactions and investments. Create one group as a Metaverse source of knowledge and skills, especially including GenZ digital natives.

2. Develop Meta-Strategy

??? Identify gaps to close and long-term Metaverse opportunities. Determine technical measures such making services extensible, developing plans for security and identity, and publishing application programming interfaces (APIs) to core systems so others can connect.

3. Test Use Cases

??? Select a few already available low-risk use cases such as selling digital versions of physical goods, offering virtual tours of virtual products or facilities, and launching NFTs to enhance brand awareness and connections to customers. Consider acquiring digital real estate (Metaverse billboards) for sales, advertising and customer support.

?

?? LONG-TERM (3 aspects)

1. Focus on Trust

??? The Metaverse brings yet more challenges for cybersecurity, privacy rights, regulatory compliance, brand reputation and anti-fraud efforts. Consider security at the services level to foster trust among consumers, regulators and other stakeholders. Use AI to automate the authentication of identity, assets, transactions, and contracts.

2. Rethink Core Competencies

??? Upskill and recruit needed talent, and review approaches to data and business relationships. If you own (or use) a digital platform, accelerate your services and security the infrastructure.

3. Align Physical and Digital

??? If you have digital services and/or assets in your portfolio, drive for a consistent and seamless brand experience across both the physical and digital constructs.

Source: Adapted and modified from Link. Graphic is mine. https://www.pwc.com.au/digitalpulse/six-ways-prepare-business-metaverse.html

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