The 7 most important do’s and don’ts for metaverse tech strategies

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By Jasper Thomas

The more things change, the more they stay the same – at least when it comes to developing a technology strategy.

Although the metaverse sounds like the Wild West of technology, developing an organizational strategy to leverage this new concept requires many of the best practices used in any technology initiative. This means thinking about business goals and people, not leading with technology.

The metaverse as a persistent, interoperable digital platform that provides immersive experiences and supports economic transactions is not a reality. However, companies are leveraging some of the building block technologies – such as AI, augmented reality (AR), virtual reality (VR) and blockchain – to deliver metaverse-like experiences.

To use them well, best practices must be followed. Until then, here are seven metaverse tech strategy do’s and don’ts that leaders should keep in mind.

1. Don’t lead with technology

Like any other technology project, a Metaverse project should support the overall business strategy.

I don’t think anyone should think in metaverse strategies; They should think about a customer strategy and then think about what tools they should use.

Valentin CogelsCompetent partner, Head of EMEA Product and Experience Innovation, Bain & Company

Although the metaverse is getting a lot of buzz right now, it’s just a tool, said Valentin Cogels, expert partner and head of EMEA product and experience innovation at Bain & Company. “I don’t think anyone should think in metaverse strategies; he should think about a customer strategy and then think about what tools he should use,” Cogels said. “If the Metaverse is a tool they should consider, that’s fine.”

A business goals-first approach also helps refine the available choices, which executives can then use to develop use cases.

It’s critical to serve the business goals and customers you already have, said Edward Wagoner, CIO Digital at JLL Technologies, the real estate technology division of commercial real estate services company JLL Inc., headquartered in Chicago.

“Taking this approach makes it much easier to think about how [the products and services you deliver] would change if [you] could make it an immersive experience,” he said.

For example, corporate real estate could potentially leverage the metaverse and its blockchain-based economy to research and record real estate transactions, he said. Meanwhile, corporate tenants may need reconfigured conference rooms to accommodate office workers who use the metaverse to meet and collaborate with others. And retail customers may also need a reimagined space to enable a future where shoppers use a combination of metaverse and in-world experiences to make their purchasing decisions.

Understanding where the opportunities lie requires a cross-functional approach.

“Talk to your business colleagues and look at the potential use cases for your company,” said JP Gownder, vice president and principal analyst on Forrester Research’s Future of Work team.

For example, operations might have a need for digital twins, or human resources might see a benefit in engaging employees using virtual reality, he said.

Conclusion: When creating a metaverse strategy, focus on business goals.

2. Don’t forget about people or risk

Putting people at the heart of any technology strategy is critical, and this need doesn’t go away when developing a metaverse strategy.

“I weave real estate into this whole conversation, but I put people first,” Wagoner said.

Technology projects are doomed to failure if there is no understanding of how people use the technologies.

“That shapes how we think not only about the Metaverse concept, but also about all the other technologies we use,” Wagoner said.

As part of this people focus, CIOs and business leaders must not forget the many risks of metaverse platforms. Managers have to speak up Environmental concernspotential Legal issues and other risks before moving projects forward.

Conclusion: Put people first.

3. Don’t believe the hype

The Metaverse concept is arguably the most hyped technology concept today. Technology and business leaders who decide it’s worth exploring should be strategic. For example, definitions vary as to whether Metaverse Is even a meaningful term. So leaders need to agree on which technologies will be discussed and then define what they mean. As part of this, they need to experiment with these technologies.

“If you want to talk about it [the] Metaverse, then use it,” Wagoner said. “Buy a headset today. Have a virtual meeting with your team and learn. This is probably one of the easiest ways to see what’s different [about this technology].”

Conclusion: Try out metaverse platforms so you understand what they entail.

4. Don’t be stingy with technical experience

As an extension of their own experiment with Metaverse-associated technologies, technology leaders must also offer this experience to others.

CIOs can help their colleagues imagine the potential of a metaverse by creating digital assets and digital twins that organizational leaders can then use, said Samantha G. Wolfe, associate professor of media, culture and communication at New York’s Steinhardt School of Culture York University. Education and human development.

“So even if there isn’t such a broad infrastructure for the metaverse yet, you can still benefit from the technologies,” she said.

A digital library can help leaders and their teams better understand the existing technology components that will create a more fully developed metaverse, Wolfe said. This, in turn, can help them develop ideas about how the organization can leverage the metaverse.

“For example, if you understand what VR and AR are and how they apply to your business today, you can begin to understand the potential [of a metaverse] “as all the technologies underlying the metaverse come together,” Wolfe said.

Conclusion: Consider building a library of digital technologies.

5. Don’t skip the metaverse planning phase

Like any other technology initiative, a Metaverse initiative requires foresight.

Once business leaders figure out the scenarios and use cases, they should determine what technologies and talent they need to advance their projects and whether it’s better to build, buy or manage those resources, Gownder said.

CIOs, for example, may want their teams to build capabilities around Microsoft Mesh or Meta’s Presence Platform, or they may want developers who can leverage Unity’s real-time development platform and 3D creation tool Unreal Engine, he said. CIOs also need to consider their hardware needs and invest in new technologies like goggles and speed up refresh cycles to add computers that have the capacity to deliver good metaverse-style experiences. And they must consider integration requirements so that they can deliver the data that employees, partners or customers need to engage in the development of the metaverse.

Conclusion: Identify the technical resources required.

6. Don’t forget the provider ecosystem

More and more providers are adding Metaverse-like experiences to their products or focus in a different wayand technology leaders should understand this.

CIOs should think about how their existing vendors plan to add or support Metaverse-like experiences now and in the future, Gownder said. Microsoft, for example, has announced that it will introduce its Microsoft Mesh features for mixed reality collaboration and communication in Teams starting this year.

“Whether you’re ready or not, some of the vendors you’re already working with will deliver Metaverse-like experiences,” Gownder said. “So then you have to work with your users to maximize the value of those users once they arrive.”

To do this, CIOs not only need to have the technical hardware, software and skills, but also a good change management program.

“You have to enable people to interact with these tools,” he said.

Takeaway: Understand vendors’ metaverse roadmaps.

7. Don’t forget the countless Metaverse platforms

There are not a single metaverse And that may never be the case, but thinking about what kind of extended reality platform makes sense for the company’s goals is another consideration when developing a metaverse strategy.

Metaverse-type platforms range from independent offerings tailored to each company’s needs to mainstream offerings like Decentraland and Roblox, Cogels said.

Cogels asked CIOs and other executives the following questions to consider as they develop their metaverse strategy.

  • Do I want to target a public setting or a more targeted audience?
  • How connected should my experience be?
  • What type of experience do I want?
  • Do I want a high level of control over the experience or do I just want to stick with what the provider offers?
  • Do I want to decide how, where and when people can interact?

Companies should examine and understand the terms of each platform, such as whether the platform owns and uses data collected from the experiences they host and the users on them, he said.

“Maybe you will [customer] It’s free to acquire, but what you’re giving up is data,” he said.

Conclusion: Do your research to understand the different types of Metaverse platforms.

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