KPMG Partner Says, B2B Will Fuel The Metaverse ‘Explosion’
Alyse Sue, the incoming Head of Metaverse Futures at KPMG, said the goal is to create a multimillion-dollar business opportunity by 2025.
The Australian affiliate of the Big Four accountancy firm KPMG may soon conduct executive meetings and close multimillion-dollar agreements with customers in the Metaverse, as the company is now investigating how the groundbreaking technology may revolutionise its business model.
In a recent interview, KPMG’s James Mabbott, Partner-in-Charge of KPMG Futures, said that the company sees great promise in the technology’s ability to create new and more efficient methods for companies and customers to communicate.
“I think the exciting applications are going to be in the business-to-business context […], And I think that I actually think that’s where the money is going to be [even] more so than the consumer-driven participation.”
Mabbott said that virtual interactions on Metaverse platforms might change customer engagement and service delivery and create new income streams for the company.
“What we’re looking to do is explore the opportunity to create new business models and new assets with technology that fundamentally transforms the way we deliver our services,” he told.
Developing A Metaverse Squad:
According to a recent statement, the corporation has established a new post within its KPMG Futures division dubbed Head of Metaverse Futures and assigned Web3 executive Alyse Sue to the position.
Sue was a senior consultant on the KPMG Innovate team from 2012 to 2015, according to KPMG Australia, before entering the cryptocurrency industry, where she co-founded several startups, including Transhuman Coin, a decentralized finance (DeFi) project that invests in and supports emerging technologies.
Sue served as the Head of Web3 for the worldwide software development and consulting business Palo IT before returning to KPMG.
The new position comes with an ambitious goal from KPMG to create commercial prospects worth millions of dollars by 2025. Mabbott noted that KPMG has considered establishing its Metaverse for internal business processes and business-to-business services to accomplish this.
Mabbott also said that Sue would get assistance from some of the 90 employees of KPMG’s Futures section, which focuses on artificial intelligence (AI), quantum computing, and the Metaverse.
KPMG has also launched KPMG Origins, a blockchain-based track-and-trace platform that aids trade partners in codifying trust while conducting cross-border commercial transactions. According to Mabbott, approximately thirty employees are presently working on the supply chain-focused platform.
Active Metaverse Users Are Of No Concern:
However, the company is also investigating options on public Metaverse platforms to see what opportunities exist and what they may represent for customers. Mabbott said.
The KPMG partner stated that he was worried about the recent decline in user engagement and cited terrible user experiences in several of the industry’s significant Metaverses.
“When you look at some of these spaces, patronage and participation at the moment are not particularly high. But this is when all the really interesting experimentations are happening, and the development of those new business models and ways of creating value is falling out.”
“Off the back of that, I think there will be an explosion actually in terms of uptake and use and applicability of these technologies as well,” he added.
Mabbott also noted that while several video communications platforms, including Google Meets, Microsoft Teams, and Zoom, experienced a significant increase in user activity during the COVID-19 pandemic, users cannot fully immerse themselves in that environment as they can in the Metaverse.
“The bit they don’t solve for is the emotional component. [With the Metaverse], your senses are hijacked, and you feel like you’re in that environment. That’s what’s missing from our current Zoom and [Microsoft] Team’s interactions.”
“It’s that sense of being in the room and being able to read [other people’s] body language and feel like you’re there. What’s that next step that I think these technologies will bring,” Mabbott added.
Both are different from this KPMG’s first move in the Metaverse. In June of 2022, the accounting firm committed $30 million in Web3 employee training for its U.S. and Canadian-based employees, emphasising education, collaboration, and training via various events and seminars.
McKinsey predicts that the Metaverse will be valued at $5 trillion by 2030, according to research published in June 2022. Citi estimated that the entire addressable market for the Metaverse economy might reach $13 trillion during the same period.
Comments
Post a Comment