(Menahun– Khaleej Times)
Published: Saturday, September 3, 2022 at 10:24 PM
Last updated: Sat, Sep 3, 2022 22:25
UAE businesses will be forced to make some fundamental changes to their marketing, sales and business strategies given the massive disruption caused by the metaverse and big data.
Industries such as tourism, advertising, entertainment, leisure, retail, and education have completely changed, influenced by modern marketing campaigns that engage consumers in the real and virtual worlds, and vice versa. increase.
Marketers will rely on big data to infer consumer trends. As Web 3.0 deepens its mass reach, the most sought-after segment is the Metaverse. According to industry experts, big data is the future of official statistics and the core of decision-making, and there is no substitute for big data and AI to provide up-to-date, accurate, and reliable information in a timely manner. .
Ali Shabdar, MEA Regional Director, Zoho, United Arab Emirates, said: More than ever before, human interactions, including commerce, will evolve, generating a wealth of data that will help businesses optimize their operations and further personalize the experience for their audiences.”
Consumer attitudes and real-world behavior are driven by the virtual experiences companies can offer.
“As online users become more immersed in the metaverse, more data will be provided and fed into virtual systems. In fact, the metaverse market is estimated to reach $800 billion by 2024.” This will undoubtedly contribute to a staggering amount of data, with over 150 zettabytes (1 zettabyte = 1 billion terabytes) of data to be analyzed by 2025. . .
With the advent of the Metaverse, the demand for big data management and analytics is growing rapidly, and companies wishing to capitalize on its potential need to allocate more resources.
Businesses must prepare quickly to prepare for the flood of opportunities and challenges posed by the rapid growth of the metaverse. As the gateway to this virtual universe, AR/VR technology needs further development, which requires more resources (skills, software, hardware) to be allocated.
Crayon Data, a Singapore-based big data and artificial intelligence (AI) startup, is expanding its footprint in the region to serve some of the UAE’s top brands.
Crayon Data co-founder and CEO Suresh Shankar said: In a way, just like web and mobile added a new layer, it’s the next layer of experience. In other words, it’s a leap beyond the Internet and the world of Web 2.0.
The fundamental building block of the metaverse is data. Today, we are flooded with data being generated and collected through various consumer apps by digital giants, banks, airlines, and more. A feeling of it. For both consumers and businesses, Shankar said:
The metaverse generates exponentially large amounts of data to replicate the experience of the physical world. Where more signals are available. The importance of AI and machine learning will grow exponentially in the Metaverse. This is because the human brain cannot process this large amount of data. And creating relevance becomes even more difficult and even more valuable.
“The UAE has become an experimental hub for the metaverse in terms of building applications and services. Many companies are set up here and looking for new applications to be built. and experiments will be conducted,” concluded Shankar.
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