Blog Post by Nigel Kilpatrick, Chief Strategy Officer at Iceberg Creative.
In this blog, I try my very best to layout all the fundamental components of the Industrial Metaverse and hopefully provide some answers to questions that you may be thinking about. I have also provided several case studies, that I hope help you consider how the technologies that make up the Industrial Metaverse could give you an insight for your own use cases.
The History of The Industrial Metaverse
The concept of the Industrial Metaverse is not new, and its exact origins are difficult to trace. However, it is likely that the idea of a virtual world that is built on top of the physical world has been around for many, many years. A consideration to help conceptualise the concept of the Industrial Metaverse is to realise that it is the convergence of all digital technologies (Web 3.0, immersive technology, smart mobile apps, 5G, fibre, cloud applications & infrastructure, graphics, hardware, databases, social media and much more), coupled with a business will and the desire to modernise. One could even say, as I actually do, that the Industrial Metaverse is digital transformation realised!
One of the earliest examples of a virtual world can be found in the decade that I was born in – the ‘60s – with the development of the computer game “Spacewar!”, in which the game allowed players to control spaceships and engage in one-to-one combat in a digital experience.
I was fortunate enough to have been involved in the early days of the world wide web, in the mid-1990s, and saw first-hand how digital interfaces paved the way for the creation of more complex virtual worlds. We worked on innovative brands such as Godiva, the NBA (in USA) and others who wanted to immerse their audience into virtual brand related worlds. These platforms allowed users to create digital representations of themselves and interact with others in a virtual environment. This was my first exposure to the Industrial Metaverse!
The term “metaverse”, (not to be confused with its cousin the “industrial metaverse” 😊) was coined by science fiction author Neal Stephenson in his 1992 novel “Snow Crash,” in which he described a virtual world that is built on top of the physical world. In one of my recent podcasts, (‘The Virtual World, with Nigel Kilpatrick’ podcast (available on all Podcast services) my guest Chris Gabriel, Chief Strategy Officer at Sapphire Systems, described the future (actually present day) as two different worker worlds: “meta-workers” (automated digital workers) and “tera-workers” (the human worker). In the podcast (you can listen here: https://bit.ly/3udAJXR) we discussed how the world of work will be shared by the two new forms of workers and open up new types of job roles, in which the job specification will be based entirely on automated tasks. Consider, the positive impact on human interaction and personal engagement if over 50% of non-value adding tasks are being performed by ‘digital twins’ (meta-workers). Consider the positive impact this could have on the current crisis in the UK NHS. Also, take a moment to consider the positive impact on employee health and wellbeing. I could go on and on listing the positive human and commercial outcomes a combined meta and tera workforce would have on society.
Advances in all areas of technology, over the last decade, have made it possible to create highly detailed and realistic digital representations of physical assets, processes, and people. This has paved the way for the development of the industrial metaverse, which is now being used by organisations in the industrial, health, government, and defence sectors to optimise their operations and explore new business opportunities.
What is the size of the global industrial metaverse market?
The global market size of the Industrial Metaverse is difficult to estimate, and not even the leading financial analysts can agree on the size of the ‘metaverse’ market. Recently, Mckinsey & Company estimated that $120b+ has already been generated in the metaverse in 2022 and that almost 80% of consumers who were active made a purchase. Over the next 5 years over 15% of corporate revenue is expected to come from the metaverse. There is a range of market analysis ranging from $5 trillion to $20 trillion by 2031. Whichever measure you hang your hat on, there is one common theme – the market is absolutely massive!
The Industrial Metaverse is expected to grow rapidly in the coming years as more and more organisations in the industrial sector adopt immersive technology (see later references to Virtual Reality and Augmented Reality). According to a report by MarketsandMarkets, the global market for virtual and augmented reality in the industrial sector was expected to grow from $1.84 billion in 2020 to $8.81 billion by 2025, at a compound annual growth rate (CAGR) of 37.5%. This growth is being driven by a range of factors, including advances in technology, the growing need for remote collaboration post COVID-19, and the increasing demand for immersive and interactive experiences. There is also one market driver, that cannot be ignored – a new generation of immersively aware employees entering the global economy.
As the industrial metaverse is a subset of the broader VR and AR market, it is likely that its market size will be a smaller proportion of the overall market. However, it is expected to experience significant growth as more organizations in the industrial sector adopt the technology.
What are the benefits of the Industrial Metaverse?
The Industrial Metaverse is a rapidly emerging technology space that offers numerous benefits to organisations accross all vertical markets from Health to Higher Education and with use cases in all departments from Training & Development to Supply Chain.
The Industrial Metaverse is a virtual world that is built on top of the physical world. It allows organisations to create digital representations of their assets, processes, and people, and to interact with them in real-time. This allows organisations to not only optimize their operations, but also to innovate and explore new business opportunities in creative ways never before available.
One of the key benefits of the industrial metaverse is the ability to visualise and analyse data. By creating digital representations of your business assets, you will be able to gain valuable insights into their performance and identify areas for improvement. This can help you to optimise your operations and reduce downtime. It won’t be long until we start using the phrase an ‘Metaverse Operating Model “MOM”!
Another key benefit of the Industrial Metaverse is the ability to collaborate and share information in real-time. This can be particularly useful if your business/organisation operates across multiple locations, as it will allow you to easily share information and coordinate business efforts. It can also help to improve communication and collaboration between different departments within and outside of your operation.
The Industrial Metaverse also has the potential to improve safety and reduce the risk of accidents. By creating digital representations of hazardous environments, organizations can train their employees in a safe and controlled environment, without exposing them to any real risks. This can help to improve safety and reduce the likelihood of accidents in the workplace. Consider reviewing your HSE stats and removing all costs associated to accidents, including time off, re-onboarding, emotional stress, time to performance re-introduction and insurance.
Use cases for the Industrial Metaverse.
There are several case studies of organizations that have successfully implemented the industrial metaverse in their operations. Some examples include the following:
Siemens
Siemens, has implemented the Industrial Metaverse in its power and gas division. The company has created digital twins to reduce human capital overhead in its supply chain.
ExxonMobil
ExxonMobil, implemented the Industrial Metaverse in its oil and gas operations. The company has created digital representations of its offshore platforms and pipelines, and is using Industrial Metaverse to improve collaboration and communication between different teams and locations.
GE Appliances
GE Appliances, has implemented Industrial Metaverse solutions in its manufacturing operations. The company has created digital representations of its factories and production lines, and is using the industrial metaverse to identify and eliminate bottlenecks and improve the efficiency of its operations.
Airbus
Airbus, , is using Industrial Metaverse technology to improve collaboration between its different departments. The company has created a virtual space where employees from different locations can work together in real-time, allowing them to share information and coordinate their efforts.
These case studies demonstrate the potential of the Industrial Metaverse to improve efficiency, enhance collaboration and communication, and drive innovation in the industrial sector. By leveraging this technology, organizations can gain a competitive edge and drive growth.
Immersive technology explained
Immersive technology, such as Virtual and Augmented Reality, is improving business processes by providing organisations with new ways to visualize, analyze, and interact with data. It’s not all about wearing a headset! These technologies allows businesses to create digital representations of their assets, processes, and people, and to interact with them in real-time and accross multiple platforms. The power of immersive technology is being realised accross the entire gamit of generations. Businesses are now being able to unlock new markerts, create new products and services, enhance human engagement while optimising operations, improving collaboration and communication, and drive innovation.
Some of the key ways in which immersive technology is changing business processes include the following:
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Improved training and education: Immersive technology can be used to create interactive, immersive learning experiences that can help employees to better understand complex concepts and procedures. This can lead to improved performance and increased productivity.
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Enhanced product design and development: Immersive technology can be used to create digital prototypes of products and test them in a virtual environment. This can help businesses to identify and fix design flaws before going to market, leading to improved product quality and reduced development costs.
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Increased efficiency: Immersive technology can be used to simulate complex processes and environments, allowing businesses to test and optimize their operations before implementing them in the real world. This can lead to increased efficiency and cost savings.
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Improved collaboration: Immersive technology can be used to create virtual meeting spaces where employees from different locations can work together in real-time. This can help to improve communication and collaboration, leading to increased productivity and faster decision-making.
In summary, immersive technology is changing business processes by providing organizations with new ways to visualize, analyze, and interact with data. This technology can help businesses to improve training and education, enhance product design and development, increase efficiency, and improve collaboration.
What is Virtual Reality?
Virtual Reality (VR) is a technology that allows users to experience and interact with digital environments as if they were real. It typically involves the use of a headset or other device that displays a computer-generated image, often in 3D, and tracks the user’s movements to provide a realistic, immersive experience. VR can be used for a wide range of applications, including gaming, education, training, and entertainment.
What are the business benefits of Virtual Reality?
Virtual reality (VR) technology offers a range of benefits to businesses. Some of the key advantages of using VR include the following:
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Improved training and education: VR can be used to create immersive, interactive learning experiences that can help employees to better understand complex concepts and procedures. This can lead to improved performance and increased productivity.
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Enhanced customer experiences: VR can be used to create immersive, interactive environments that can help businesses to engage with their customers in new and exciting ways. This can lead to improved customer satisfaction and loyalty.
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Increased efficiency: VR can be used to simulate complex processes and environments, allowing businesses to test and optimize their operations before implementing them in the real world. This can lead to increased efficiency and cost savings.
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Enhanced product design and development: VR can be used to create digital prototypes of products and test them in a virtual environment. This can help businesses to identify and fix design flaws before going to market, leading to improved product quality and reduced development costs.
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Improved collaboration: VR can be used to create virtual meeting spaces where employees from different locations can work together in real-time. This can help to improve communication and collaboration, leading to increased productivity and faster decision-making.
In summary, virtual reality technology offers numerous benefits to businesses, including improved training and education, enhanced customer experiences, increased efficiency, enhanced product design and development, and improved collaboration. By leveraging VR, businesses can gain a competitive edge and drive growth.
What is Augmented Reality (AR)?
Augmented Reality (AR) is a technology that allows users to see and interact with digital information and objects in the real world. It involves the use of a device, such as a smartphone or headset, that displays digital content on top of the user’s view of the physical world. This content can be static, such as text or images, or it can be interactive and respond to the user’s actions. AR can be used for a wide range of applications, including gaming, education, training, and entertainment.
What are the business benefits of Augmented Reality (AR)?
Augmented reality (AR) technology offers a range of benefits to businesses. Some of the key advantages of using AR include the following:
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Improved customer experiences: AR can be used to create immersive, interactive environments that can help businesses to engage with their customers in new and exciting ways. This can lead to improved customer satisfaction and loyalty.
2.
Enhanced product design and development: AR can be used to create digital prototypes of products and test them in a real-world environment. This can help businesses to identify and fix design flaws before going to market, leading to improved product quality and reduced development costs.
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Increased efficiency: AR can be used to provide workers with real-time information and instructions while they are performing tasks, allowing them to work more efficiently and reduce errors.
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Enhanced training and education: AR can be used to create interactive, immersive learning experiences that can help employees to better understand complex concepts and procedures. This can lead to improved performance and increased productivity.
5.
Improved collaboration: AR can be used to create virtual meeting spaces where employees from different locations can work together in real-time. This can help to improve communication and collaboration, leading to increased productivity and faster decision-making.
In summary, augmented reality technology offers numerous benefits to businesses, including improved customer experiences, enhanced product design and development, increased efficiency, enhanced training and education, and improved collaboration. By leveraging AR, businesses can gain a competitive edge and drive growth.
What is Robotic Simulation?
Robotic simulation is a technology that allows users to create and test digital representations of robots and their environments in a virtual environment. It typically involves the use of specialized software and hardware that allows users to design, program, and control virtual robots, and to test and optimize their performance.
Robotic simulation is used for a wide range of applications, including the design and development of new robots, the testing and optimization of existing robots, and the training and education of operators. It allows users to experiment with different designs and control strategies, and to evaluate the performance of robots in a safe and controlled environment.
Robotic simulation can be used in a wide range of industries, including manufacturing, healthcare, logistics, and defense. By leveraging this technology, organizations can gain a better understanding of their robots and their performance, and can optimise their operations and drive innovation.
What are the business benefits of using Robotic Simulation?
Robotic simulation offers a range of benefits to businesses. Some of the key advantages of using robotic simulation include the following:
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Improved efficiency: Robotic simulation allows businesses to test and optimize their operations before implementing them in the real world. This can help to identify and eliminate bottlenecks and improve the efficiency of their processes.
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Enhanced training and education: Robotic simulation can be used to create interactive, immersive learning experiences that can help employees to better understand complex concepts and procedures. This can lead to improved performance and increased productivity.
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Reduced costs: Robotic simulation allows businesses to identify and fix design flaws before going to market, reducing the need for costly prototypes and trial runs. It can also help to reduce the risk of accidents and downtime, resulting in cost savings.
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Improved collaboration: Robotic simulation can be used to create virtual meeting spaces where employees from different locations can work together in real-time. This can help to improve communication and collaboration, leading to increased productivity and faster decision-making.
5.
Enhanced product design and development: Robotic simulation can be used to create digital prototypes of products and test them in a virtual environment. This can help businesses to identify and fix design flaws before going to market, leading to improved product quality and reduced development costs.
In summary, robotic simulation offers numerous benefits to businesses, including improved efficiency, enhanced training and education, reduced costs, improved collaboration, and enhanced product design and development. By leveraging this technology, businesses can gain a competitive edge and drive growth.
Use cases of Immersive technology in the UK Health sector
There are several examples of organizations in the United Kingdom that have successfully implemented immersive technology, such as Virtual and Augmented reality, in the healthcare sector. In addition to our own use case with Orthopaedic Research Institute Bournemoouth University (please visit https://bit.ly/3FDKrcj) some other examples include the following:
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NHS: The National Health Service (NHS) in the United Kingdom has implemented virtual reality technology in its mental health services. The NHS uses VR to create immersive environments that can help patients with anxiety, stress, and other mental health conditions to relax and cope with their symptoms.
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Imperial College London: Imperial College London, a leading research university in the UK, has implemented augmented reality technology in its medical training programs. The university uses AR to create interactive, immersive learning experiences that help medical students to better understand complex procedures and improve their performance.
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Royal National Orthopaedic Hospital: The Royal National Orthopaedic Hospital in the UK has implemented virtual reality technology in its rehabilitation programs. The hospital uses VR to create immersive environments that can help patients with spinal cord injuries to improve their mobility and independence.
These use cases demonstrate the potential of immersive technology to improve mental health, enhance medical training, and facilitate rehabilitation in the healthcare sector in the UK. By leveraging this technology, healthcare organizations in the UK can provide better care to their patients and drive innovation in the industry.
Web 3.0 explained!
Web 3.0 is a term that is used to describe the next generation of the World Wide Web, which is currently under development. It is also known as the “Semantic Web” or the “Web of Data.”
Web 3.0 is expected to be a more intelligent and interactive version of the World Wide Web, where data is organized and structured in a way that allows machines to understand and process it. This will enable the development of new applications and services that can provide users with personalized and relevant information, based on their preferences and interests.
Web 3.0 is expected to be built on the principles of the Semantic Web, which is a set of standards and technologies that allow data to be represented and shared in a way that is meaningful and interpretable by machines. This will enable the development of new applications and services that can understand and interpret the meaning of the data, and can provide users with personalized and relevant information.
Web 3.0 is expected to bring numerous benefits to users, including improved search capabilities, personalized and relevant information, and the ability to interact with digital content in new and innovative ways. It is also expected to drive innovation and growth in the technology industry, as it will enable the development of new applications and services that can leverage the vast amounts of data that are available on the World Wide Web.
Use cases for Web 3.0.
There are several potential use cases for Web 3.0, which is still in the early stages of development. Some examples of how Web 3.0 could be used include the following:
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Personalized search and recommendations: By using metadata and natural language processing, Web 3.0 could allow search engines to understand the meaning and context of the content on the web, and to provide users with more personalized and relevant results. For example, a search engine could use metadata about a user’s interests and preferences to suggest related articles, products, or services.
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Intelligent assistants: By using machine learning and artificial intelligence, Web 3.0 could enable the development of intelligent assistants that can understand and respond to natural language queries. These assistants could help users to find information, make decisions, and perform tasks more efficiently.
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Smart homes and cities: By using metadata and sensors, Web 3.0 could enable the development of smart homes and cities that can understand and respond to the needs of their residents. For example, a smart home could use metadata about a user’s preferences and habits to adjust the temperature, lighting, and other settings automatically.
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Enhanced e-commerce: By using metadata and machine learning, Web 3.0 could enable the development of more personalized and intelligent e-commerce platforms. For example, an e-commerce platform could use metadata about a user’s interests and preferences to recommend related.