Is the Metaverse for Professional Services Businesses even Real ?

Should Professional Service Businesses such as Accountants, Lawyers, Architects, Consider the Metaverse as a Real Thing?

Professional services businesses include Accountants, Lawyers, Financial Planners, Engineers, Doctors, Architects, Designers, Consultants, and many others who provide a service. They will all be impacted by the Metaverse, here is how.. and when..

In November 2021, the world’s largest social media company, Facebook, officially changed its name to meta. This move is primarily beast on a future focus on the metaverse. What is the metaverse, and how does it impact the rest of us?

I know we will talk about?business here, but please stay with me as this is highly relevant to understand some of the things I will talk about in this article. At the beginning of the development of video games a few decades ago, players could play games on computers. In the early days, these were games such as Tetris, Pacman, and other similar 2D games designed for individual play. Moving forward, and with the development of the Internet, network play or multiplayer play came into existence. By the late 80s and early 90s, game developers were focusing on games that had multiple layers, enhanced graphics, and in some cases, the ability to play in the network mode. This meant that different people could connect to the same game and essentially play against each other.

Presently the gaming industry has significantly developed and massively changed from its early evolution. Today large gaming companies and popular games offer the ability to not just play in a collaborative model. Still, you can play with millions of other players, create teams, gain rewards and recognition.

In a parallel universe on the Internet, there have been other developments. This includes cryptocurrency, non-fungible tokens, tokens, and other new and innovative ideas. On the other hand, in the physical world, hardware manufacturers have been working hard at creating devices, hardware devices, especially glasses that can help develop visualizations in multiple modes. This includes virtual reality, mixed reality, and augmented reality. The differences between these are how much of what you see through those glasses exists in front of you in its physical form, how much of it is digitally generated and overlays on the physical world, and how much of it is purely artificial. These are the core basics of the entire new reality platform evolution.

What is now interesting is that all these three worlds are coming together. The question becomes how would someone else who’s not playing a game connect with, meet and interact with other people from across the world who want to do the same thing in, say, a virtual reality format. Or the last couple of years, most of us have been overburdened with zoom calls, video conferencing, and so on, to the extent that there is possibly hardly anyone who does not know how video conferencing works or has not participated in a meeting held virtually. With the emergence of virtual reality glasses and the development of virtual worlds, you can also meet other people in entirely virtual meetings held in Common Pleas.

Going back to the metaverse, Facebook naming itself meta, and the reason for doing so, is purely very future-focused. Facebook wants to invest heavily and focus on developing these virtual worlds where people come together, meet, and interact. With the evolution of digital currencies and things such as non-fungible tokens and digital art, it is also possible to transact in these virtual worlds. This means that you Read it’s mind-boggling. Many people wonder why we need to go to such lengths 2 meet people and interact with them. There’s another category of people earning a living by selling their digital art in these virtual worlds, and it is just the tip of the iceberg.

The metaverse is the big combined large universe of all small metal versus and virtual worlds connected together. The metaverse is about utilizing digital assets between worlds, not having any boundaries or platform dependence, and seamlessly going between different virtual reality worlds. In some cases you may be meeting your colleagues and peers, and then going to watch a virtual sports game being played, and then perhaps going to a museum to see the latest creations and displays in an entirely virtual exhibition.

The current error represents a very initial beginning offer digitally powered virtual world. Many career services will be performed virtually in the future, such as consulting, art, learning and education, and more. The question now is, will the metaverse impact the accounting profession?

My opinion is that it is way too early for a significant impact to occur on brick and mortar firms for the next 5 to 10 years. Future service-based will have a significantly different job than what they have today due to the emergence of technology. So much so that some experts believe that it’s even hard to predict what some professionals, such as accountants of the future will do. The metaverse opens many new career possibilities and a new way to connect with others. Will this open up a significant market for service industries such as accounting and others? It needs to be seen.

My recommendation to businesses reading this article is to focus on becoming future-ready by enabling disruption-proof methodology. This includes re-establishing the foundations of the business by concentrating on what drives successful businesses in today’s era. This includes engagement, learning, people, partnerships, accountability, culture, execution, and the usage and implementation of technology.

Will the metaverse be a significant disruptor for your professional services business? I think organizations firms that fail to become future-ready in the next ten years would have other disruptive to address, rather than the metaverse? Maybe it will help next-generation service businesses firms find customers, connect with your users in your own metaverse world.

Whatever the case may be, there is the opportunity for highly progressive and future-focused entrepreneurs to be the first to operate in the metaverse and call themselves The Pioneers of the Metaverse.

Any takers?