Thinkers360 2023 Predictions are member-sourced from our opt-in B2B thought leader and influencer community with 100M+ followers on social media combined. The 2023 Predictions are part of a series to provide actionable insights for business and technology executives.
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We asked a selection of our Thinkers360 global thought leaders and influencers about their predictions for Metaverse in 2023. Here’s what they told us…
What are your predictions for the Metaverse in 2023?
While there is ample debate on whether the metaverse will reach its potential, in many respects the metaverse is already here today. Industry has been deploying technologies such as digital twins successfully for some time. Admittedly, the hype has been on the consumer side, where the breakneck speed at which the metaverse has attracted major brands and significant investment is impressive. So what lies ahead?
- Post-hype Reality: now that the initial hype is behind us, companies will shift their focus and investment to opportunities which offer sustainable market and competitive advantage. While it may be some years before the metaverse becomes mainstream, its potential is hard to ignore.
- Gaming: the metaverse debate will continue to be heavily influenced by gaming, as the intrinsic elements of the metaverse are not new for the gaming industry, nor its 3.1bn gamers worldwide. The big question is whether we see further acquisitions by Web2 companies, as they seek to address their internal constraints through acquiring companies already operating in Web3.
- Regulation: the whole issue of privacy has been a hotly contested area for some time. The metaverse brings this debate to a new level and regulators will continue to up the ante to address privacy, and indeed, identity, security, standards and hopefully interoperability, in anticipation of a metaversal world.
- Sensemaking: businesses that are serious about being competitive and relevant in an immersive economy, will need to spend significant time making sense of the metaverse in 2023. With over 70% of digital transformations failing, leaders should not expect a different outcome for the metaverse, absent an understanding of what the metaverse actually means for their business.
– Tony Moroney, Managing Partner at Beta Digital.
Gaining digital trust will be crucial for large scale adoption of The Metaverse. In order to accomplish that aim we must defend against the increased cyber threats expected in the Metaverse era and offer proactive sustainable digital ethics programs. Designing and deploying proactive dual Zero-Trust Cyber-Ethics Solutions for the Metaverse will be essential to safeguard our meta-identities™ and provide state of the art privacy, confidentiality and cyber-resilience for a web 3.0 powered metaverse.
– Ingrid Vasiliu-Feltes, CEO at Softhread.
The metaverse is like a Jules Verne book written about going to the Moon in the late 18th century. It’s all logical but we are still missing three key components that are essential for success: There is no killer application platform to build ecosystems from. Without that common platform we are going to struggle to make this easy for software companies. Barrier two is a recognition that the experience for humans needs to be logical in both components. Physical cannot replicate online and online or virtual is not a physical experience. Our brains are very smart and our ideas need to find the right point of synthesis ( maybe machine economy). Finally none of the companies laying claim to owning this world are doing a good job at either of these three variables for success. 2023 starts to see a recognition of these variables for success in the design. Maybe this is where we see future winners.
– Michael Gale, CMO, Snr VP at Wind River.
In 2023, the Metaverse will still be emerging into applications beyond gaming and social. Apple’s launch of its mixed reality headset will start a groundswell movement of consumer application development on their realityOS, and we will see some unique and powerful use cases by the end of the calendar year, especially in mental health and low code-no code creator applications. However – amidst a global recession, rising consumer price index, inflation, chip scarcity, and rampant layoffs within the tech sector, headset sales will lag and prices will increase, leading to lackluster progress on the device gap that prevents critical mass adoption.
– Annie Hardy, Senior Visioneer at Cisco.
Gen Z will continue to lead in Metaverse adoption, but increasingly Gen Alpha will drive its shape and future, they grew up digitally and their world is already phygital. The most widely adopted Metaverse will be a mobile, augmented reality, and 5 G enabled. Governments will see the public benefits of the Metaverse and will increasingly encourage its use for health care, public services, education and collaboration.
– Dr. Jane Thomason, Chair Of The Board Of Directors at Kasei Holdings.
Metaverse (and Web 3.0) has interestingly rejiggered the adoption curve which traditionally was very linear and progressive. Normally, adoption takes place by a few curious and ambitious and then it moves to the masses and then finally the late adopters engage. However, metaverse and Web 3.0 has raised the attention and engagement of the early adopters and, normally slower adopters like industry stalwarts like Salesforce, Accenture, Deloitte and others. What does this mean and could this be an issue of build-it and they will come or is this actual lasting change? I say it’s both. There is definitely the desire for new experiences driving this evolution and there is a large cohort of creators calling this a revolution.
– Christine Russo, Principal at Retail Creative and Consulting Agency.
The Metaverse will continue to evolve, grow, and become more mainstream. In 2023, we will see a more distinct separation between business and personal applications, much like we saw with its predecessors – the Internet and the Web. Both are looking at the Metaverse, like the Holodeck on Star Trek, forming a near-realistic global simulation where participants can freely interact. The adoption rate will largely depend on 3D technology, especially the headsets. Businesses are approaching the Metaverse like what we saw with Digital Transformation. They are looking at new markets, revenue streams, and operational efficiencies. I suspect the early applications will focus on communicating, not commuting. I also suspect businesses will continue to look at Augmented Reality (AR) for training and troubleshooting. Personal applications will evolve from gaming to more social networking and experiential commerce. We will also see the Metaverse incorporate other technologies like Artificial Intelligence (AI) to provide customizations like placing the faces of real people on avatars. Blockchain will most like help the Metaverse be decentralized and grow globally
– Alex Sharpe, Principal at Sharpe Management Consulting LLC.
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