Journal: Journal of Computer Information Systems
Year: 2023
Citations: 406
DOI: 10.1080/08874417.2023.2165197

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. This paper also discusses the challenges and opportunities that the metaverse may present to organizations and individuals. The paper concludes with avenues for future research.

Summary

This comprehensive research paper transitions from theoretical metaverse concepts to practical implementation strategies across multiple industry sectors. The study provides detailed analysis of how extended reality technologies including augmented reality, virtual reality, mixed reality, and 3D graphics can be integrated into real-world business applications. The research examines the metaverse’s potential impact across marketing, tourism, manufacturing, operations management, education, retail, banking, healthcare, and human resource management, offering practical frameworks for organizational adoption and implementation.

The paper addresses critical implementation challenges including infrastructure requirements, user experience design, security protocols, and integration with existing business processes. By examining real-world applications and potential use cases, the research provides actionable insights for organizations considering metaverse integration. The study’s multidisciplinary approach encompasses technical, business, psychological, and social perspectives, recognizing that successful metaverse implementation requires understanding of both technological capabilities and human factors.

The research distinguishes itself by focusing on practical implementation rather than speculative possibilities, developing comprehensive frameworks for assessing organizational readiness and identifying potential barriers to adoption. The study provides valuable guidance for business leaders, technology managers, and policymakers seeking to understand how metaverse technologies can be effectively integrated into existing operations while maximizing benefits and minimizing risks.

Main Takeaways

• Practical Implementation Focus: The research transitions from theoretical metaverse concepts to actionable implementation strategies across multiple industry sectors including marketing, tourism, manufacturing, education, retail, banking, healthcare, and human resources.

• Comprehensive Technical Framework: The study addresses critical implementation challenges including infrastructure requirements, user experience design, security protocols, and integration with existing business processes.

• Real-World Application Analysis: The research examines actual use cases and applications rather than speculative possibilities, providing concrete examples of how metaverse technologies can solve business problems.

• Organizational Readiness Assessment: The paper develops frameworks for evaluating organizational readiness and identifying potential barriers to metaverse adoption, helping businesses make informed technology investment decisions.

• Multidisciplinary Integration: The study combines technical, business, psychological, and social perspectives to provide holistic understanding of successful metaverse implementation requirements.

• Strategic Business Guidance: The research provides valuable insights for business leaders, technology managers, and policymakers seeking to understand effective metaverse integration strategies.