Metaverse Masterminds: Conversations with Swiss Industrial Metaverse Conference Speaker Prof. Nathaly Tschanz

Welcome to "Metaverse Masterminds," an engaging series of conversations with the brilliant speakers from the Swiss Industrial Metaverse Conference, where we uncover their thoughts and opinions on the rapidly growing Metaverse. Kicking off this series, we're excited to introduce Professor Nathaly Tschanz from the Lucerne University of Applied Sciences and Arts (HSLU Hochschule Luzern). Prof. Tschanz plays a pivotal role in shaping and leading three forward-thinking courses: the Certificate of Advanced Studies (CAS) in Virtual & Augmented Reality Management, CAS Digital Twins, and a one-day course focusing on the Metaverse. Join us as we dive into her fascinating insights and visions for the future of virtual worlds and their influence on a variety of industries.

The original interview was in German. This is an English translation.

1. How do you envision the Metaverse evolving in the next 5-10 years, and what opportunities do you see for businesses in the industrial sector?

What we're seeing right now is an increasing convergence of existing and evolving technologies - such as digital twins, artificial intelligence, machine learning, augmented reality, blockchain, cloud and edge computing, etc. - into ever more powerful interfaces between the real and digital worlds.

We're still at the very beginning, and it's difficult to predict where this will go. It's as difficult as trying to predict in 1990 where we would be with the Internet in 2023.?

What is clear is that these new developments will once again shape and transform all areas of our lives. The industrial metaverse is one area where the new capabilities will (hopefully) help reduce costs, improve experiences, and accelerate processes - for example, by moving expensive, time-consuming activities into virtual environments. This will allow companies to understand complexity better, make better decisions, and test and optimize systems, processes, and infrastructure before investing time and resources in the real world.?

2. Why should small and medium-sized industrial enterprises also pay attention to the Metaverse, and what opportunities or competitive advantages can they gain by embracing this technology in their business?

I am not a fan of blind activism. It rarely pays off. Currently, there is a lot of hype around the buzzword Metaverse, and media reports are often dominated by the self-interest of the big players. The most important thing for SMEs right now is to get their own picture of the opportunities, the risks, and the potential long-term consequences. Ignorance is dangerous, as history has shown. I always like to refer to Amara's Law: "We tend to overestimate the impact of technology in the short term and underestimate it in the long term."?

Companies should therefore consider what new opportunities immersive 3D experiences can offer internal stakeholders and customers, and how their own industry, and their own business model could be fundamentally changed by it.

3. What opportunities or competitive advantages can SMEs gain by using this technology in their business?

Well, there are a lot of opportunities. Many companies are experimenting with how to exploit the potential of virtual meeting rooms, for example, for onboarding and training or for interactions between employees in different locations and with customers around the world - without geographical restrictions. The vision of the Industrial Metaverse is closely related to the concept of Digital Twins - a software mapping of (all) components in the product lifecycle using physical data, virtual data and interaction data between them.?

Before spending a lot of money, resources and manpower in the real world, it is helpful to go through everything in the virtual world first. This starts with the conception and design of new products, processes and machines. Based on the wealth of data already available from the real world, for example, on the materials used, superfluous or unsuitable components can be adjusted or even eliminated on the digital model before production begins.?

Digital twins are also useful in production because not only products but entire production facilities can be reproduced as digital twins. This makes it possible to test procedures and optimize production processes before the real thing is manufactured.?

And when a product is put into operation, it supplies the digital twin with huge amounts of data at any time, thanks to numerous sensors. Specialists can then see live what is happening in the real world and use the available data to run simulations, for example, to identify in advance which components need to be serviced. Or they can test repair approaches before service technicians set out on their journey.

As we conclude our enlightening conversation with Professor Nathaly Tschanz, we are reminded of the endless possibilities and potential the Metaverse holds for industries worldwide. Her insights have provided us with a deeper understanding of the virtual world and its influence on our future. Be sure to stay tuned for more captivating discussions in our "Metaverse Masterminds" series, where we'll continue to explore the thoughts and visions of the Swiss Industrial Metaverse Conference speakers, uncovering the fascinating world of the Metaverse and its game-changing impact on our lives.

Don't miss the opportunity to learn from these industry visionaries in person. Register now for the Swiss Industrial Metaverse Conference and secure your spot at this groundbreaking event. Join us as we venture into the Metaverse and discover its transformative potential together!