About 60% of Gen Z and millennial investors have made an investment as a result of social media, according to a new survey out today from M1 Finance.
Their findings forecasts that virtual reality and augmented reality (AR) have the potential to add $1.5 trillion to the global economy by 2030. From creating new customer experiences to speeding up product development, VR and AR can present a broad range of opportunities for businesses.
"It’s hard to talk about what’s next without talking about ethics—embedding ethics from the start should be an absolute must. The harm caused by the current internet experience is plain to see—organizations should do better in the next iteration, with more transparency. It will be critical to learn from previous mistakes. Unintended tech consequences are impacting humanity right now, and openness about that impact will need to be part of building trust in the metaverse—particularly around behavior control, sustainability and accessibility. As brands seek to capitalize on the opportunities presented by the metaverse, we encourage open debate around the ethics relating to who people are and what they do there.
The questions surrounding the future of the metaverse are numerous and varied, including: How will data be used and stored? How can new algorithms be developed that block sensational, clickbait headlines, and by doing so end polarization and disarm the trolls? How can child protection be designed into a metaverse experience from the start?
The democratization of access might lead to a new wealth of shared cultural experiences and new economies, however, innovating responsibly will be the foundation of every brief going forward."
do people value digital products more than physical products? or the same?
"In the immediate future, we expect to see a period of questioning, learning and experimenting on what’s possible. Any brand or creator wanting to operate in the metaverse must be ready for a lot of trial and error, with all focus on the end user’s experience. For instance, there’s a question around whether people value digital products as much as they do physical products, so brands will need to define their consumption value propositions for digital products and experiences."
source: FJORD ACCENTURE