Neal Stephenson, a science fiction author, coined the term “metaverse” to describe a shared virtual world where users can interact with each other and even with virtual objects in real-time. In recent years, the term has been used to describe the growing trend of virtual and augmented reality (AR/VR) technologies, which are being used to create immersive and interactive digital experiences. Among the most intriguing implementations of the metaverse is corporate training.
According to a Verified Market Research analysis, the metaverse market was worth $27.21 billion in 2020 and is expected to rise at a 39.1% CAGR between 2022 and 2030. The ability to create realistic and engaging virtual environments for employees to learn and practice new skills can provide many benefits for organizations. However, implementing a metaverse in corporate training comes with many challenges. Despite these challenges, the metaverse has enormous potential for corporate training programs.
7 Benefits of Integrating Metaverse in Corporate Training Programs
Metaverse technology is gaining popularity and has the potential to revolutionize the way corporate training programs are delivered. The metaverse, or virtual reality environment, has many benefits for corporate training programs. Here are some key benefits:
1. Immersive Experience: Metaverse offers an immersive experience that can provide a realistic workplace simulation. Such immersive experiences are not possible with traditional training methods, such as video or text-based training. Learners can feel like they are actually in the environment, making the training experience more engaging and memorable.
According to PWC, the impact of AR and VR software on global employment is expected to be significant, with an estimated 23 million jobs being affected. This highlights the increasing necessity for metaverse training.
2. Gamification: Games and game-like elements can make training more engaging and fun. Employees can participate in virtual scenarios and competitions, encouraging them to learn and apply the skills they have acquired. In a metaverse gaming environment, Non-fungible Tokens (NFTs) can serve as incentives for players to strive for higher levels of achievement.
3. Collaborative Learning: Metaverse can create collaborative learning environments where employees can work together in virtual teams. This can help build teamwork and communication skills and increase employee engagement in the corporate training program.
4. Virtual Meetings: Metaverse can be used to facilitate virtual meetings and training sessions, allowing employees to participate from anywhere in the world. This could make traditional on-site corporate training sessions less expensive and less time-consuming.
5. Customizable Content: Metaverse allows for the customization of content, making it easier for trainers or instructors to create training programs tailored to their organization’s specific needs. The ability to translate virtually across different metaverse worlds fosters diversity and enables corporations to reach employees beyond geographical and demographic limitations, effectively scaling training programs.
6. Realistic Scenarios: The metaverse can be used to create realistic scenarios for learners to practice in. Sensors and digital twins enable the creation of a virtual replica of an operational site, allowing learners, the opportunity to explore the effects of modifications on the actual asset through a simulated experience. This can help enhance the retention of information among learners.
7. Accessibility: The metaverse is accessible to a wide range of learners, regardless of their location or physical abilities. Digital twins make it possible for subject matter experts to be accessible virtually. This makes it easier for companies to provide training to employees who may be located in different parts of the world or who have disabilities that make it difficult to participate in traditional training programs.
What Future Holds for Metaverse and Online Corporate Training Programs
The future of metaverse is looking brighter than ever, and eLearning is one of the key areas that is expected to benefit from it greatly.
Leverage Data Analytics for Improved Learning
With the ability to extract previously untapped data, there is now the opportunity to understand what drives learner progress, highlight areas for improvement, and enhance the overall learning experience. This could include analyzing participation levels, attention to detail, engagement statistics, behavior patterns, and even making predictions for future learning. These insights could potentially drive the development of new and innovative learning approaches.
Rise of Visualization and Storytelling
Soon, platforms such as Zoom, MS Teams, and Google Meet may face competition due to the emphasis on visualization and storytelling within the metaverse. Visualizing plans and strategies before putting them into action can help solve global problems like climate change, education, gender inequality, and health.
Learning Experiences in Virtual and Hybrid Settings
Develop practical skills by working through real-world scenarios and challenging situations. While errors may occur, their consequences will not be severe. The combination of data science and spatial design in the metaverse enhances student involvement and job performance. The terms “experiential learning” and “deliberate practice” will become increasingly significant.
The idea of the metaverse has captivated the minds of many for decades, and with advancements in technology such as virtual reality, augmented reality, and blockchain, it is finally becoming a reality. As the metaverse’s technology continues to grow and change, it is crucial for organizations to stay up-to-date on the latest advancements and trends. This will allow them to take full advantage of the many benefits the metaverse offers and build a more resilient future for their employees and organizations.
The use of the metaverse in corporate training programs has the potential to transform the way organizations deliver training and development programs. Its immersive experience, low cost, flexibility, interactivity, realistic scenarios, ability to be customized and ease of use make it a powerful tool for making corporate training programs better and more effective.