It is impossible to ignore how emergent technologies like the metaverse, blockchain, digital twins, and the Internet of Things (IoT) are reshaping how organizations and consumers in every industry conduct business, overcome unanticipated challenges, and seize opportunities for innovation and growth. Business leaders are certainly taking notice. According to one Accenture survey, executives expect the metaverse to account for 4.2% — or $1 trillion — of revenue in the next three years. 89% of those executives also agreed that the metaverse promises to influence the growth of their organization.
Because the metaverse holds untapped potential, many innovative industry leaders have decided to begin utilizing the technology. For example, Mars, the confectionery, food, and pet care brand, is leveraging artificial intelligence (AI), cloud computing, and digital twins to transform and modernize its manufacturing operations. One way the company does this is by using digital twins to create validated manufacturing simulations before it commits resources to adjust products and processes in the physical world. Accenture’s African American Employee Resource Group uses the metaverse to enable employees to create digital avatars of themselves to celebrate Black History Month and interact with others who share their values. And a non-profit organization in Brazil is using high-tech tools to introduce innovation labs to low-income neighborhoods to create new economic opportunities in those communities.
Transformative technologies are already playing a vital role in our daily lives. 85% of Americans regularly use products or services that contain artificial intelligence technology. Also, approximately 60% of supply chain management firms anticipate that robotic process automation will impact supply chains by 2025. In short, businesses and consumers will make decisions influenced by emergent technologies in the years ahead.
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