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Telecom Business Review | Wednesday, June 29, 2022
Enterprises can forge new growth paths through the metaverse's realistic virtual world.
FREMONT, CA: The metaverse can affect all of our lives in a way that has never been seen before and induce behavior modification. Vertical industries could undergo a complete transformation in less than a generation. Society and corporations may operate in fundamentally different ways. Over time, it is expected that technologies and ideas will arise to capitalize on the behavioral changes that the metaverse will permit.
Participation in the metaverse would be highly advantageous for telecom companies. Through this virtual environment, they can improve customer experience, monetize investments through adjacent services, and boost operational efficiency.
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However, the metaverse presents telecom operators with a unique chance to play a more assertive role in the metaverse value chain. Telecom operators, technology titans, and online game producers can harness emerging technologies such as 5G, edge cloud, analytics, and artificial intelligence (AI) to become co-creators of the metaverse. Indeed, telecoms around the world are already beginning to see this potential.
For telcos to succeed, they must find their place in the metaverse ecosystem and take advantage of the opportunity to position themselves as co-creators instead of merely participants.
Here are a few ways telecom service providers can facilitate the voyage to the center of the metaverse.
Promote the growth of human interface hardware
Humans will interact with the metaverse using augmented reality (AR) and virtual reality (VR) headsets, gaming consoles, and smartphones. These devices will serve as entry points to virtual worlds.
Mobile, resolution, responsiveness, and field of view must be improved for VR technology to reach the general public. In areas such as mobility, resolution, responsiveness, and field of view.
The metaverse will undoubtedly work as a stimulant for these devices, and operators can grasp this opportunity to collaborate with device manufacturers to push their adoption by selling VR devices and connection services to customers in bundles. However, operators must adopt an end-to-end (E2E) "device lifecycle management" strategy to generate value from these devices.
Additionally, operators can engage in device innovation and implement important profitability drivers such as securitization, re-commerce, and insurance.
Become the leading source of connection
The expansion of the metaverse and virtual worlds is directly correlated with connectivity.
5G services provide faster multi-gigabits-per-second (multi-Gbps) peak data rates, ultralow latency, increased reliability, and a consistent user experience. With the commercial deployment of 5G networks, 5G will assist consumers and businesses in entering the metaverse.
As 2030 approaches, the telecom sector is anticipated to experience another generational shift toward 6G cellular services. 6G data transfer speeds will be faster, and latency will decrease, giving the metaverse further momentum.
Fiber connectivity, which provides high-bandwidth speeds, will also contribute to the growth of the metaverse. In the future, the offloading of wireless traffic via Wi-Fi 6—the most recent iteration of Wi-Fi—will aid in addressing network capacity and efficiency issues.
Enhance capabilities in advanced analytics and AI to increase income
The metaverse will require the collection of vast data, and it will be vital to determine how this data can be acquired, stored, and repurposed.
Compared to other businesses, telecoms have had greater access to significant data insights for a more extended period due to the necessity to extract insights from call data records.
When repurposing data to enhance decision-making and create new demand situations, operators will have numerous advantages in the metaverse.
Within the metaverse, telecom operators will possess a lot of product, customer, and asset data, and their historical retail and distribution capabilities will supply a variety of customer- and operations-related insights.
As a result, telecom operators should pay special attention to cultivating the appropriate analytics and AI capabilities and identify viable channels for monetization to increase their profits further.
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