Most UAE executives believe metaverse will have positive impact; Study

By Shilpa Annie Joseph, Official Reporter
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Ireland-based multinational professional services company, Accenture has found that nearly three-quarters (71 percent) of executives in the UAE believe the metaverse will have a positive impact on their organizations.

“’Metaverse Continuum,’ a spectrum of digitally enhanced worlds, realities, and business models, is redefining how the world works, operates, and interacts,” the company said.

As part of the report, Accenture surveyed more than 4,600 business and technology leaders across 23 industries in 35 countries including the UAE. A further 42 percent believe it will be a breakthrough or transformational.

Mr. Paul Daugherty, group chief executive, Technology, and chief technology officer at Accenture said that, “The next generation of the internet is unfolding and will drive a new wave of digital transformation far greater than what we’ve seen to date, transforming the way we all live and work. Our vision of the metaverse as a continuum challenges prevailing, narrower views and highlights why organizations must act today, or find themselves operating in worlds designed by, and for, someone else.”

The Accenture report also looked at the online behavior of consumers, finding that 70 percent of those surveyed are spending substantially more time online.

As per the report, “In the UAE, this number is even higher – at 84 percent, in comparison to pre-pandemic levels.  Moreover, in the UAE – 97 percent of sampled executives (98 percent globally) agree that emerging technologies are enabling their organization to have a broader and more ambitious vision.”

“As the line between people’s physical and digital lives further blurs, organizations have the opportunity and obligation now to build a responsible metaverse — addressing issues like trust, sustainability, personal safety, privacy, responsible access and use, diversity, and more. The actions and choices they make today will set the stage for the future,” Mr. Daugherty added.

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