Gil Rosen, Chief Marketing Officer, Amdocs
The dawn of the metaverse age opens a whole new frontier of exciting, next-generation experiences in both the consumer and enterprise spaces.
Just as the iPhone brought about a new chapter in the evolution of the internet when it burst onto the scene back in 2007, the metaverse introduces another significant step forward – one that will transform the internet as we know it beyond all recognition.
For the first time in human history, we will be able to experience the digital world from within – no more second screen or third screen; we will exist in the digital world as if it were physical. This represents the dawn of a completely new age, one that will unleash a wave of exciting new digital experiences.
Imagine an immersive online environment where companies can offer interviewees a walkthrough tour of their premises entirely remotely; where sports and music fans watching from home can enjoy live entertainment as if they were there in the crowd; where colleagues can meet in an immersive VR environment instead of yet another Zoom or Teams meeting; and where tourists can be introduced to Dubai and plan their vacation before even boarding their flight. In the case of this last example, we will be showcasing our VR/AR-powered Dubai MetaTour demo at GITEX Global 2022. Users will be able to see the main attractions, buy tickets and create their own perfect vacation itinerary.
Exciting new use cases like these prove that the metaverse has the potential to become central to our daily lives, changing them not unlike social media when it first arrived on the scene.
Ubiquitous Connectivity is King
The metaverse is, of course, still in its infancy, as evidenced by the fact that there is no set definition on which experts and key industry players can agree. If its transformative potential is to be fulfilled, with the metaverse entering the mainstream and shaping our online lives for years to come, we will need to see the creation of hyper-intelligent, ubiquitous networks and platforms that support next-generation virtual experiences both in the home and on the go.
In this new era, where devices, connectivity and services come together, the rock-solid, dedicated networks made possible by 5G – network slicing, for example – will become critical.
This is where the telecoms sector has a vital role to play and one reason why I believe the metaverse will represent a significant growth opportunity for telcos in the coming years.
I also believe the industry will look to in-home connectivity packages to guarantee the bandwidth, security and functionality that allow use cases like the metaverse to thrive through dedicated connectivity. This can be through fiber, broadband or even dedicated 5G networks.
In the gaming space, for example, a recent Amdocs survey found that a majority (78%) of US-based gamers are willing to pay at least $10 for cloud gaming if they can be assured of a bundled, dedicated 5G connection as an add-on to their gaming subscription. And almost half of these respondents (44%) would pay more than $20 for such a service.
As the metaverse grows over time, this can prove a critical growth opportunity. The communications industry needs to look to these disruptive times as an opportune moment to provide the right services within the home. Expect to see new operational capabilities, private enterprise networks and the deployment of edge resources for low latency to ensure a consistent experience.
The future success of the metaverse hinges on creating the right environment, both in the home and on the network. Another key will be the recognition that success can’t be guaranteed by any single party or sector. Instead, what’s needed is close collaboration across multiple industries and ecosystems backed by innovation-friendly legislative frameworks of the kind that Dubai plans to implement.
A good example of such a collaboration opportunity is the Metaverse Standards Forum, a community of standards organizations and companies – including Amdocs, a principal member – building industry-wide cooperation on the interoperability standards needed to build the open metaverse.
Forces at Play
The theme of collaboration takes me back to GITEX, where technology leaders will come together to share ideas and make connections, unifying the world’s most influential ecosystems that are advancing business, the economy, society and culture through the power of innovation.
I’ll be using my speaking slot at the event to explain why the metaverse will shape the telecoms sector now and in the years to come, along with three other over-arching forces:
- 5G and the enterprise segment – There’s a great appetite among businesses to embrace 5G, but a lack of understanding of its various advantages is blocking mass adoption. Tackling this gap will unleash a new wave of innovation within enterprises and unlock new revenue opportunities for telcos.
- A revised mission for broadband – In an age of remote working, streaming, IoT and smart devices, consumers want intelligent, enterprise-grade connectivity at home. This paradigm shift in consumer expectations creates opportunities as well as challenges for telcos.
- The rise of the fluid consumer – Today’s consumers increasingly demand flexibility and fluidity between the physical and online worlds and around entertainment and connectivity services. This new segment values frictionless experiences and is willing to pay for digital products and services that make daily life easier and more enjoyable.
The Gulf region, with its dynamic digital economies and hyper-connected, tech-savvy population as well as its prowess in driving and embracing technological innovation – as demonstrated by its leadership in areas like smart cities and standalone 5G – is well placed to be at the forefront of these trends. Indeed, Dubai’s metaverse sector alone could support 42,000 virtual jobs and add $4 billion to its economy by 2030, according to a recent projection.
We live in a time of profound technological, regulatory, sociological and psychological change. I’m confident that four days of exciting debate at GITEX Global 2022 will leave us all with plenty to ponder, as well as some ideas to take forward, as we enter the new digital universe.
Gil Rosen will be speaking on Day Two (October 11th) of GITEX Global 2022, discussing the topic of Shaping the Future of Customer Experience during a 10-minute solo address. Keep up with Amdocs news during the build-up to GITEX Global 2022 by visiting our website and following us on Twitter, Facebook, LinkedIn and YouTube.