Accenture Technology Vision 2022: "Metaverse Continuum" redefining how the world works, operates and interacts

Accenture launches dedicated Metaverse Continuum business group as physical and virtual                                               realities converge to reshape human experiences

JOHANNESBURG; March 17, 2022 – A new report from Accenture (NYSE: ACN) reveals that the "Metaverse Continuum," a spectrum of digitally enhanced worlds, realities and business models, is redefining how the world works, operates and interacts. According to the Accenture Technology Vision 2022, "Meet Me in the Metaverse: The Continuum of Technology and Experience Reshaping Business," businesses are racing toward a future that is very different from the one they were designed to operate in — as technologies, such as extended reality, blockchain, digital twins and edge computing, are converging to reshape human experiences.

To help organisations take advantage of this opportunity, Accenture is launching the Accenture Metaverse Continuum business group. The new group will be led by Paul Daugherty, group chief executive – Technology and chief technology officer at Accenture and David Droga, CEO and creative chairman of Accenture Interactive.

"The next generation of the internet is unfolding and will drive a new wave of digital transformation far greater than what we've seen to date, transforming the way we all live and work," said Daugherty. "Our vision of the metaverse as a continuum challenges prevailing, narrower views and highlights why organisations must act today, or find themselves operating in worlds designed by, and for, someone else."

"As the building blocks of the Metaverse Continuum take shape, it's imperative that African companies begin incorporating this into their business strategy now," said Kgomotso Lebele, Technology lead for Accenture in Africa. "They must become metaverse businesses and start engaging in these new people-centric worlds."

As part of the report, Accenture surveyed more than 4,600 business and technology leaders across 23 industries in 35 countries – including South Africa. At this early stage, 63% of local executives believe the metaverse will positively impact their organisation, and 43% think it will be a breakthrough or transformational.

"We are recognised as an early leader in metaverse-related capabilities, with 600 patent filings and more than a decade of experience," added Droga. "Our new business group combines these capabilities with the creative strengths of Accenture Interactive, with teams of innovators and creators introducing new applications in the decentralised environment of the metaverse."

Accenture also operates its metaverse, the Nth floor, where its people participate in new hire orientation and immersive learning or meet and socialise as teams. This fiscal year, the company expects 150,000 or more new hires will work in the metaverse on their first day.

Daugherty added, "As the line between people's physical and digital lives further blurs, organisations have the opportunity and obligation now to build a responsible metaverse — addressing issues like trust, sustainability, personal safety, privacy, responsible access and use, diversity and more. The actions and choices they make today will set the stage for the future."

The Technology Vision 2022 report identifies four key trends that companies will need to address:

• WebMe: Putting the Me in Metaverse – Enterprise strategies are built for the internet of today, a digital world where platforms often lack interoperability and data portability. Metaverse and Web3 are poised to reshape the internet; rather than it being a disparate collection of sites and apps, looking ahead, the metaverse will lead to a persistent 3D environment in which moving from one "place" to another will be as simple as walking from one room to another. 92% of executives believe that future digital platforms need to offer unified experiences, enabling interoperability of customers' data across different platforms and spaces.
• Programmable World: Our Planet, Personalised – As emerging technologies such as 5G, ambient computing, augmented reality and smart materials advance, digital environments will be increasingly woven into the fabric of our physical world. These environments will reshape how people engage with worlds and redefine everything built in it, how people sense and interact, and control over it. About 68% of executives agree that leading organisations will push the boundaries of the virtual world to make it more real, increasing the need for persistence and seamless navigation between the digital and physical worlds.
• The Unreal: Making Synthetic, Authentic – AI-generated data that convincingly reflects the physical world increasingly support businesses and environments. More than ever before, AI is top-of-mind for companies, as companies and consumers alike shift away from considering what is actual versus fake to what is authentic—not just in terms of a company's content and algorithms but its entire brand. With the unreal world about to become a reality, now is the time for leaders to ready their businesses. Already, 95% of executives report that their organisations are committed to authenticating the origin of their data and genuine use of AI.
• Computing the Impossible: New Machines, New Possibilities – The emergence of a new class of machines empowers organisations across industries to stretch the boundaries of what computers can solve. Tools like quantum computing and biology-inspired computing allow businesses to solve problems that may be too expensive, inefficient, or flat out impossible for traditional computing. As "grand challenges" become trivial operations, how enterprises compete, provide value, and partner will radically change; about (88%) of executives agreed that long-term success would depend on leveraging next-generation computing to solve seemingly intractable challenges.

For the 2022 report, the research process included gathering input from the Technology Vision External Advisory Board, a group comprising more than two dozen experienced individuals from the public and private sectors, academia, venture capital firms and entrepreneurial companies. In addition, the Technology Vision team conducted interviews with technology luminaries and industry experts and many Accenture business leaders. In parallel, Accenture Research conducted a global survey of 24,000 consumers and 4,650 C-level executives and directors across 35 countries and 23 industries.