Companies are making big bets on the future of the “metaverse,” a computer-generated world that could be the next Internet or a colossal failure.
Some form of metaverse, a computer-generated virtual world, has been on the minds of everyone from science fiction writers to tech titans for several years. It seems that a kind of virtual reality is perennially “just around the corner”. However, for the first time, serious VR hardware has reached a price point and scale of distribution available to most consumers .
Maybe you found an Oculus waiting for you under the Christmas tree or bought one for someone else. For the price of a plane ticket, you can now buy a kind of ticket to the metaverse.
The ultimate tool for the job?
One promise of the metaverse is that it represents a compelling new way to collaborate and get work done. We've seen iterations of virtual meetings before, and the metaverse promises to take that experience to another level.
Not only is the “talking head” effect of today's video conferencing replaced by realistic avatars interacting in virtual space, but there can be an entire world where you can effectively teleport to different locations in the virtual world. Imagine interacting with customers in your virtual “office” or visiting a job site or supplier facility and “walking the halls” instead of interacting on a static screen.
Likewise, immersive virtual and augmented reality tools have already shown promise in areas such as product design. Teams of engineers can traverse a virtual version of a new bridge or building before the first shovel hits the ground, just as product designers can move and examine a product from multiple angles.
The metaverse promises that these tools could be integrated into a larger world. Civil engineers can create metaverse versions of real designs and see how virtual “citizens” use the result before manufacturing the product in real life, just as companies can design virtual products and test them in the metaverse.
Various companies are trying to use the metaverse as an additional revenue stream with everyone from real estate speculators purchasing virtual properties to architects designing and selling elaborate “houses” in the metaverse pursuing various currencies that are ultimately turned into real-world income. .
As mainstream companies like Microsoft and Facebook invest heavily in the metaverse, it's worth experimenting with it or two. Your company doesn't need to equip everyone with expensive technology or spend millions on “fake real estate,” but trying a meeting or two in the metaverse or experimenting with the various apps and developing worlds can identify emerging opportunities that might otherwise go unnoticed.
The Metaverse as VR 2.0
If you're of a certain age, you might remember similar promises about the wonders of virtual worlds in the 1990s. As I watched my son try on the Oculus glasses for the first time, I couldn't help but remember seeing people gape, clutching them. to non-existent objects, albeit with clumsier hardware.
Then, as now, the availability of “cheap” computing power was touted as the differentiator that would bring VR to the masses, and the ubiquitous PC was cited as the sign that consumers were ready for more complex and immersive technology in their homes. Obviously, these hypotheses have not come to fruition, and what was once seen as “immersive” graphics now looks like a geometry experiment gone horribly wrong.
Hardware and graphics have certainly advanced since the 90s, although the current metaverse hasn't reached a level of detail that would easily mistake it for reality. Avatars, representations of individuals, still range from comic book-like characters to strange floating legless “stake people.”
Many technologies launched with high hopes and offering technically appealing features fail without a useful application that makes the hassle of adoption worth it. Metaverse meetings can be cool, but if it takes twenty minutes to update your Google's firmware, connect to the right apps, and move your cat so you don't trip over it as it bounces around the metaverse, setting up 3 seconds of a Metaverse meeting Zoom or Teams will probably win.
Companies that have invested hundreds of millions in metaverse hardware and software have a vested interest in telling the world it's the next big thing. However, it appears that the metaverse has not yet acquired the organic “buzz” of successful technologies ranging from the iPod to social media, creating the potential for the metaverse to meet the same fate as previous VR efforts.
The darker side of the metaverse
Early VR lacked the “magic bullet” that made companies like Facebook (now Meta) hugely successful: human-to-human connectivity and the ability to share life in real time. This sharing capability was combined with learning algorithms that provided individuals with fully personalized content that kept them coming back for more. This may be benign when the content is vacation photos and wedding announcements, but social media also has a dark side that we're just beginning to understand as a society.
Everything from conspiracy theories to suicide has been linked to social media consumption. Despite these dire consequences, it's worth remembering that these services are provided on a small piece of aluminum and glass, which is hardly the most realistic proposition, but still surprisingly addictive.
The application of the mechanics of social media and the relentless focus on “engagement” and data collection from its users in a virtual world has problematic potential . Just as one might delve into a social media “news bubble” that only shares information that confirms existing biases, imagine isolated sections of the metaverse that confirm and amplify the darker nature of visitors in a 360-degree landscape that only will become increasingly indistinguishable from the real world.
Limitations of the Metaverse
It is also important to be aware of the limitations and challenges associated with the metaverse. For example, as with many cutting-edge technologies, there are inevitable technical issues, including connectivity issues. This can make it difficult for companies of different types to adopt this tool in the office and beyond. Additionally, the software is highly complex and time-consuming to configure. Of course, there are also security and privacy concerns, especially those regarding data collection and surveillance.
Technological leaders and the metaverse
As technology leaders, at the most basic level, we must be aware of the evolution of hardware and software related to the metaverse. If we want to be seen as strategic thinkers, understanding applications related to our business today and potential applications for the future makes us a source of advice and strategy.
Perhaps even more important, we should seek to understand the ethical use of emerging technologies and the benefits and risks they pose to our organizations and society as a whole. It's easy to assume that these large-scale concerns are someone else's problem, but raising your profile as a leader requires more than just knowing current technology and how it's implemented.
Next steps for the metaverse and work
Professionals can interact with the metaverse and learn more about its implications by participating in a variety of events, such as virtual conferences and meetings, as well as trying out metaverse applications and software for themselves. As the tool becomes more prevalent in the coming years, it is important that individuals and teams become familiar with its benefits and functionality so that they can apply these principles in the workplace.
