Understanding the Potential of the Metaverse
Senior leaders share their insights LIVE at HCLTech Pavilion in Davos
The metaverse is still a relatively unknown entity, however surveys have shown that 42% of business leaders already believe that it will be ‘transformational’. Some companies such as PWC, Adidas and Gucci are already buying real estate in the virtual world. Some analysts predict that global metaverse revenue opportunity could reach $800 billion by 2024 as around 50% of adults worldwide said they would consider joining the metaverse. However the implications for the day to day lives of the public and businesses remain yet to be seen.
To successfully operate in the metaverse companies will need to rethink every aspect of their operations including marketing, products and customer service. While existing marketing strategies will need to be rebuilt from the ground up to reflect the fact that people may have totally different interests, styles and personalities in the metaverse. It is unlikely that users will want to experience advertising as they do online, with pop ups and unskippable ads affecting the user experience. Will businesses be able to adapt to this complete disruption of their traditional business models? How will consumer habits evolve within the metaverse? What will the outcome be for those companies who refuse or fail to successfully pivot to this new world?
This panel discussion organised by the Financial Times, in partnership with HCL Technologies, will discuss how the metaverse could transform business and what companies need to do to create successful strategies for Web 3.0. This high-level event will take place on the side-lines of the World Economic Forum's Annual Meeting 2022 in Davos and is the third and final morning briefing of this series.
Key Discussion Points
Advantages & Risks
What are the potential advantages and risks of metaverse adoption for both business and society as a whole?
Privacy Issues
What needs to be done to ensure that Web 3.0 doesn’t fall victim to the issues of privacy, abuse and access inequality that plague Web 2.0?
Transition
How will traditional companies from beyond the technology industry facilitate the transition to virtual commerce? Will best practices be collaborating with tech companies or will we see every business become a quasi tech firm?
Are you ready?
Are regulators ready for the metaverse? How can businesses work with regulatory bodies to ensure security doesn’t stifle innovation?
The Next Evolution of Marketing
How will the metaverse affect marketing? Can we expect to enter marketing 2.0?
Why Attend?
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We are delighted to co-host a series of events at this year's World Economic Forum
The Davos Morning
Show hosted by FT's Andrew Hill
Monday 23 May - Wednesday 25 May
07:45 (GMT+2)
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Monday 23 May at 07:20 (GMT+2)
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Tuesday 24 May at 07:20 (GMT+2)
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