The metaverse and big data will shape the future of business in the UAE

 Given the profound disruption that the metaverse and big data have produced, firms in the UAE will be forced to make some major changes to their marketing, sales, and business strategies.

As customers are influenced by the most recent marketing efforts that entice them in the real world and the virtual world, and vice versa, industries like tourism, advertising, entertainment, leisure, retail, and education will undergo a complete transformation.

Big data will be used by marketers to deduce consumer trends, and the metaverse is currently the most sought-after segment as Web3.0 expands its audience. Big data and AI provide the most up-to-date, accurate, and trustworthy information that is readily available in a timely way, therefore they are the future of official statistics and the foundation of decision-making.

Regional director MEA for Zoho in the UAE, Ali Shabdar, said: "Businesses will have a whole new range of options to grow into a more realistic aspect of the virtual world thanks to the metaverse. Human interactions, including commercial transactions, will advance more than ever and produce a plethora of data that firms may use to optimize their operations and further personalize customer experiences."

The virtual experiences a company can provide will influence consumers' opinions and in-person behavior.

"More information can be shared and fed into virtual systems as online users immerse themselves in the metaverse. By 2024, the market for the metaverse is predicted to be worth $800 billion. This will undoubtedly contribute to the enormous volume of data, a massive 150+ zettabytes (1 zettabytes = 1 billion terabytes) will need analysis by 2025," noted Shabdar.

Businesses who wish to take advantage of the possibilities of big data will need to allocate additional resources as a result of the metaverse's rapid increase in demand for big data administration and analysis.

Businesses will need to quickly prepare for the deluge of opportunities and problems brought on by the metaverse's explosive growth. Being the entrance to this virtual world, AR/VR technology will demand greater development, which in turn will call for more resources (knowledge, software, and hardware) to be devoted to it.

As it serves some of the largest businesses in the UAE, Singapore-based big data and artificial intelligence (AI) firm Crayon Data is growing its regional presence.

Suresh Shankar, founder and CEO of Crayon Data, said: "The metaverse is striving to integrate the rich 3D aspect of a physical experience into a digital format. It adds a new layer to the experience in some ways, just like the web and smartphones did. It advances further than the internet and Web 2.0 in other aspects."

Data is the basic building block of the Metaverse. We are currently inundated with data generated and gathered by a variety of consumer apps from digital giants, banks, airlines, etc. In fact, it's becoming more difficult to sort through the data and understand it given the variety of apps and devices we use. For both customers and businesses, says Shankar.

Since the metaverse mimics the physical world, it will produce an exponentially greater amount of data. There are a lot more accessible signals. Machine learning and AI will become increasingly significant in the metaverse. because the human brain is not capable of handling this volume of information. Additionally, it will be more challenging and time-consuming to create significance.

"In terms of developing apps and services, the UAE has already established itself as an experimental center for the Metaverse. Many businesses have established themselves here and are striving to develop new applications. Consequently, there will be a lot of creativity and experimentation here, "Finally, Shankar.

Data is the basic building block of the metaverse. We are currently inundated with data generated and gathered by digital giants, banks, airlines, and other organizations through a variety of consumer apps. a sense of it. Shankar stated that both customers and companies should:

For the purpose of simulating the experience of the physical world, the metaverse produces increasingly vast volumes of data. There there are more signals. In the Metaverse, AI and machine learning will become increasingly significant. This is so because the human brain is unable to handle such a big amount of information. Furthermore, adding relevance becomes both more challenging and more useful.