Shaping the Metaverse into Reality: A Holistic Multidisciplinary Understanding of Opportunities, Challenges, and Avenues for Future Investigation

Abstract

The term metaverse is described as the next iteration of the Internet. Metaverse is a virtual platform that uses extended reality technologies, i.e., augmented reality, virtual reality, mixed reality, 3D graphics, and other emerging technologies to allow real-time interactions and experiences in ways that are not possible in the physical world. Companies have begun to notice the impact of the metaverse and how it may help maximize profits. The purpose of this paper is to offer perspectives on several important areas, i.e., marketing, tourism, manufacturing, operations management, education, the retailing industry, banking services, healthcare, and human resource management that are likely to be impacted by the adoption and use of a metaverse. Each includes an overview, opportunities, challenges, and a potential research agenda.

Towards an Evolved Immersive Experience: Exploring 5G- and Beyond-Enabled Ultra-Low-Latency Communications for Augmented and Virtual Reality

“…With the rise in demand for travel and hospitality services, travel companies are willing to invest in AR/VR technology to provide an immersive experience to their customers. VR has been proposed as a substitution for travel, which implies that it can be used as a replacement for physically visiting certain destinations, thus providing numerous benefits [ 50 ]. AR/VR technologies generate a realistic, easy, and detailed navigation of the tourism places and enable travelers to experience a bird’s-eye view of their desired destination [ 51 ].…”

A Bibliometric Study on the Rising Trends of Metaverse Literature in Asia-Pacific Countries

“…Virtual shopping platforms within the metaverse offer a unique and immersive environment where users can explore virtual stores, interact with products, and make purchases (Yoo et al, 2023). This interactive and visually appealing setting provides a more engaging and personalized shopping experience compared to traditional online platforms (Koohang et al, 2023).…”

“…As the metaverse continues to emerge as a signi cant aspect of our digital future, it is crucial to understand the trends and developments surrounding this phenomenon. In particular, the metaverse has emerged as a potential frontier for innovation and transformation across various industries, such as education, healthcare, business and nance (Koohang et al, 2023;Parcu et al, 2023;. This emerging virtual space offers a solution to the limitations of the current online environment, including a lack of interactivity, immersion, and social presence (Mitra, 2023;Tanucan, 2023).…”

Future of Employer Branding in the Era of Bard, ChatGPT, Metaverse and Artificial Intelligence

“…The companies like Asian Paints, Decentraland, Roblox, Nike and Nvidia are promoting their brands on the metaverse (Dwivedi et al, 2022). The organisations like Meta, Google and Microsoft are invested heavily in the metaverse and generative AI platforms, which also reflects the potential of such platforms in the workplace and consumer interface activities (Dwivedi et al, 2023a; Koohang et al, 2023). Various organisations invest resources in these platforms because their target customers, especially the younger population, are spending much time on such platforms.…”