Business leaders face many challenges with cybersecurity, trust, brand reputation, and digital rights management.25Web3 and the metaverse may require new implementations across networks and partner ecosystems. EY Global Telecommunications Solutions Architect. NEW YORK; March 16, 2022 A new report from Accenture (NYSE: ACN) reveals that the Metaverse Continuum, a spectrum of digitally enhanced worlds, realities and business models, is redefining how the world works, operates and interacts. An innovative branded destination in the metaverse. Latency issues and high data egress costs have made on-premises or edge locations highly important as OT meets IT. As workloads get farther from the mobile core, you reach process-intensive and edge-centric systems like RAN. CFOs can look to tax functions to help navigate economic uncertainty, Select your location Close country language switcher. Gartner, for one, defines the metaverse as an immersive digital environment of independent, yet interconnected networks that will use emerging protocols for communications. Recent Inspired by the arts, history and urban spaces. As a result, telecom operators should pay special attention to fostering the right analytics and AI capabilities and define potential monetization avenues to further bolster their revenues. David Jarvis, Skyler Kolli, and Paul H. Silverglate, What disrupts the disruptors? How might media and entertainment evolve? The Teleperformance Building is our latest home in Decentraland. Employee training, collaboration, virtual meetings, and learning are some of the early use cases of the metaverse. Since 1985, ISM has successfully designed and implementedCRM,Digital Community, andMetaverseinitiatives for theworlds best companies. It may be Not consenting or withdrawing consent, may adversely affect certain features and functions. The consumer focus of MWC lent itself to conversations about the B2C opportunity of the metaverse, with many exhibitors incorporating a virtual experience or referencing it. Chris Arkenberg is a research manager with Deloittes Center for Technology, Media and Telecommunications. Moreover, providing a turn-key 5G solution would allow virtual service providers to keep focused on their business core while transparently connecting to both physical and virtual worlds. This might mean reviewing the 3D assembly of a prototype vehicle or inspecting a digital twin of a factory for performance enhancements. It was very much attuned to how these can be used for everyday consumer transactions like remittances and other cross-border payments. Review ourcookie policyfor more information. It is not only a virtual space where users spend time (and money) on their own or with a However, such tectonic changes should be approached thoughtfully, with more societal considerations beyond the goals of business and the inertia of technology. WebWe have 75+ years combined consulting years successfully applying technology to improve business results. Avatars allow people to express themselves within social media and applications in the metaverse using a wide range of Due to latency requirements, this data will need to be distributed and made available closer to the point of consumption. The discussions around O-RAN were high, but there was a notable downturn in the hype compared to previous MWCs. As we approach 2030, the telecom industry is expected to witness another generational shift in wireless technology toward 6G services. This involves "embedding" financial products and services such as debit cards, insurance or consumer loans in the customer journey of nonfinancial companies. WebToday at MWC, were announcing that Meta is working with Telefnica to establish a Metaverse Innovation Hub in Madrid to help accelerate metaverse network and device Businesses may also be burdened by managing and securing user identity, reckoning with the complexity of so much data, and struggling to turn it into value. Massive MIMO is an example of a 30%-50% energy reduction that can be achieved on outdoor fixed wireless networks. Alongside technology giants and online game developers, telecom operators can leverage emerging technologies such as 5G, edge cloud, analytics and artificial intelligence (AI) so that they are no longer relegated to the role of pipe provider but are paving the way to becoming cocreators of the metaverse. Data residency and sovereignty has also made some cloud services difficult to adopt. The chip vendors say very few use cases require the processing power of GPUs over CPUs, suggesting that lower-powered, easier-to-cool compute should be suitable at the edge, negating the need for expensive power infrastructure and HVAC. Simply select text and choose how to share it: Email a customized link that shows your highlighted text. Tim and Barton are actively involved in each Metaverse (VR-XR-AR) engagement supported by a team of virtual world experts. One of the running jokes in the telco industry is that while everyone markets their dedicated, on-premises cellular technology as "private 5G" systems, the vast majority are 4G. WebHow can avatars help us connect in new ways? Hence, it is typically used to describe the concept of a world where anything we can imagine can exist. Many of these challenges point toward the next generation of internet regulation.27There is an increasing dynamic of new cryptocurrencies and tokenized economies evolving at a faster pace than regulators can respond to. Allan V. Cook et al., The Spatial Web and Web 3.0, Deloitte Insights, July 21, 2020. The power efficiency issue is further elevated by the secular focus on network energy efficiency and sustainability by all global telcos. Big Boom for Online Gaming. The metaverse is considered the next evolution of the Internet. The biggest change from years past was the ubiquity of messaging around sustainability and ESG, from both suppliers and telecom operators, and the emergence of the metaverse as a common use case for advanced networks. A metaverse comprises multiple emerging technologies and promises to create new levels and types of interaction for organizations and individuals. Use case identification and execution We zero in on the most promising metaverse use cases, and The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. content Consumer and business metaverse use cases will develop thanks to the underlying 5G technology. Devices such as augmented reality (AR) and virtual reality (VR) headsets, gaming consoles and smartphones will be used by humans to interact with the metaverse. The Teleperformance Building is our latest home in Decentraland. Ready to find out how this technology will change your industry? Kevin is a senior manager in Deloitte Services LP and the sector specialist for the US Media & Entertainment sector. Advising leading organizations and Telecom operators in the Middle East, Africa and Asia. EY helps clients create long-term value for all stakeholders. Decentralization, 3D experiences and new solutions can offer troves of data. As these use cases begin to emerge, network performance and functionality needs to evolve. Operators and vendors demonstrated use cases for network slicing, enabled by stand-alone 5G networks, which included varying QoS service plans and video that is backed by a service guarantee even in times of heavy network congestion. To work, a global metaverse requires global internet availability and low-latency infrastructure where roughly 50% of the population currently obtain. We apply leading-edge technology and processes and work with sales, marketing, and customer service executives to drive higher customer acquisition, retention, and growth. We deliver on-time, on-budget engagements. This posture can help leaders defend their current business but could cause them to fall behind if they dont jump in now. As the US TM&E sector leader, Jana is focused on strategic direction and market eminence of the TM&E sector, and go-to-market strategies for Deloittes key businesses. We have 75+ years combined consulting years successfully applying technology to improve business results. This can be done by getting involved in the internal communication landscape as well as collaborating with external enterprises that wish to deliver the best hybrid experience to their customers. It can be hard to navigate so much change and discontinuity amidst all the hype and criticism surrounding Web3 and the metaverse. Without standardization, it will not be possible to instill interoperability of platforms and services across the metaverse. In the six months to June 2022, investment in the metaverse had topped $120bn. This is expected to benefit companies like Airtel and Jio. It will likely evolve into a series of public and private digital platforms that can enhance the real world in increasingly sophisticated and valuable ways. The Corporate Hitchhikers Guide to the Metaverse. When most people think embedded finance, "buy now, pay later" is top of mind. Its not a device, and its a one-person ownership thing. For instance, a company may be run where every employee can interact with peers in a totally immersive setting. We have extensive knowledge of VR-XR-AR applications, vendors, and implementation partners. Since 1985, the worlds best companies have recognized ISM as the leader in applying state-of-the-art technologies and techniques to drive customer acquisition, retention, and growth. Web3 and metaverse disruptors are often decentralized autonomous organizations (DAOs). Overall trust in digital systems could become much more robust with decentralized identifiers (DID), peer-to-peer storage systems, and secure and compliant third-party data trusts.17. Eamonn Kelly and Jason Girzadas, The future of business leadership, Deloitte, 2022. More than $120 billion was invested into the metaverse space in the first six months of 2022, according to McKinsey, double the investment across the whole of 2021. The metaverse could leave more lasting impressions of the wonders of the world on students. In its entirety to function, three key aspects are highlighted: presence, interoperability, and standardization. CEOs in these industries could consider taking If they wait too long, the landscape could shift underneath them. This figure is expected to grow as 461 operators in 137 countries/territories are investing in 5G, including trials, acquisition of licenses, planning, network deployments, and launches. In this way, blockchain-based organizations can operate towards shared goals as semiautomated tribesthey are both computers and social networks.18However, leadership in DAOs can be distributed among stakeholdersliterally those members holding the largest stake in tokens on the network.19This again tugs at the nuances in the debate of centralization versus decentralization. GSMA Intelligence predicts $720 billion worth of spending on 5G networks between 2021-2025 globally. Meanwhile, relationships with industry vertical customers can also be strengthened by identifying new collaboration opportunities. Here we take a look at seven ways that telecom operators can help power the journey to the center of the metaverse. Certain services may not be available to attest clients under the rules and regulations of public accounting. Service providers and developers together could also join forces to integrate interoperable communication functions that would accelerate deployments, ease maintenance, and connect users to an unlimited number of potential services. Social login not available on Microsoft Edge browser at this time. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Key remember settings), Performance cookies to measure the website's performance and improve your experience, Marketing/Targeting cookies which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. Businesses may give up direct control of user identity and data but could issue tokens that incentivize users, offer fractional micropayments in exchange for contributions to the service, and give them a stake in the success of the business. All this comes with a cautionary note that operators and broadcasters must consider carefully what goes in the cloud, and what does not. A fully realized metaverse needs to be global to ensure that everyone can benefit from another revolutionary phenomenon in the information age. As the metaverse is an always-on digital space powered by the internet and open standards, its potential is starting to get unveiled in different industries. Every global tier 1 operator is in the early-to-middle stages of a cloudification journey that inevitably includes a multipronged engagement with at least one of the big three major public cloud providers (though operators often have engagements with two or three). Theyre issuing tokens, generating funds and membership through NFT virtual goods, and building immersive and interactive virtual worlds that offer entertainment, goods, and equity. As the metaverse is an always-on digital space powered by the internet and open standards, its potential is starting to get unveiled in different industries. For example, the financial services arms of telcos in Africa and the Middle East may offer loans to the unbanked owners of microenterprises, using existing customer data as a way to score customer creditworthiness. To that end, the concept of monetizing network APIs with app developers roared back, with both GSMA and Ericsson/Nokia fanning the flames. We have extensive knowledge of VR-XR-AR applications, vendors, and implementation partners. Preethi Kasireddy, The architecture of a Web 3.0 application, preethiksireddy.com, September 22, 2021. Jana has built worldwide engagement teams to serve several Fortune 500 companies, across the Americas, Europe, Middle East, and Asia. Some may need to build out their networks, cloud, compute, and storage capacity, while adding the talent necessary to execute on these next-generation capabilities.30If data is being generated exponentially by metaverse interactions, businesses may need new solutions in place to operate on that data continuously and effectively, while also adhering to evolving regulatory and compliance regimes. SK Telecoms stand at Mobile World Congress 2022 in Barcelona, Spain. Mobile World Congress got back on its feet with full stands and extensive crowds. The Quality on Demand (QoD) API to enable applications that require consistent service levels made an impression. Generation Z ranks playing video games as their favorite form of media and entertainment.4 Even before the nonfungible token (NFT) boom, some game worlds were running out of virtual real estate to meet the demand of players.5Remarkably, one poll found that over half of people in nine markets prefer to spend their time online rather than in the real world.6Several generations have become accustomed to digital interfaces, software and interactivity, and global connectivity. Jana has more than 20 years of experience in serving large, multi-national technology companies to help them address enterprise risk. Please enable JavaScript to view the site. Crypto use cases. Deutsche Telekom (DT) and South Korean telco SK Telecom have collaborated on a metaverse platform of their own. All this comes with a cautionary note that operators and broadcasters must consider carefully what in. 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