What is Metaverse?

Metaverse was first used in the 1992 novel ‘Snow Crash’ by Neal Stephenson. In the book, Metaverse describes a combination of virtual and mixed-reality worlds accessed through a browser or VR headset, allowing people to have real-time interactions and experiences across distances.

Facebook rebranded itself as Meta, believing that the Metaverse is the future of technology. In reality, Metaverse is a global network where people can socialise, work and learn with each other in immersive virtual worlds. These worlds would be realised using virtual reality (VR), augmented reality (AR) and hologram technologies.

Metaverse in the Workplace

Since the onset of COVID-19, there has been an accelerated transition to remote work. Companies across the globe are moving to hybrid work models. Metaverse presents a new opportunity to take the next step in this new paradigm where going to the office is no longer a norm. The Metaverse can potentially usher in an era where virtual interactions will become more human-like, improving employee productivity by simulating an office-like environment.

Essentially, even though you might be sitting in a remote location, you can interact with your colleagues, sitting halfway across the world in a dynamic, shared virtual world. People will interact with each other through avatars, adding a sense of realism to an otherwise virtual interaction. I have had the opportunity to try Gather, a service which allows people to interact with each other in a shared virtual world. We get our avatars which look like an 8-bit character who is free to roam around in a location with other people. You can hang out with your friend near the coffee machine while sitting in the comfort of your home (Let that sink in for a moment!).

The introduction and commercialisation of Metaverse could end the need to travel anywhere for work. It has the potential to change the way we work. We will outsource more work, which is a good thing, especially for the IT industry in India. Metaverse could also improve team collaboration and communication, which can be challenging for purely remote teams. People often need help with the technology required for a presentation in virtual meetings. The rise of virtual workspaces will significantly overcome such obstacles.

Future of Metaverse

Metaverse is expected to grow to an $800 billion market by 2024. Technologies such as VR and AR are touted to have a trillion-dollar impact on the global economy by 2030. However, any new technology has challenges to adoption and naysayers. Metaverse is no different. According to the survey by Lenovo, 43% of the employees believe their company is not equipped for this transition.

It is an insanely popular technology, one that is here to stay. There is much work to be done, but it will eventually change the landscape of remote work. It will take time to get used to the technology, and few people will resist, but ultimately, it will bring about a permanent shift in our work culture. The change has begun, and the future of remote work is here. It’s known as Metaverse

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