Neal Stephenson, a science fiction writer, popularized the term “metaverse” to describe a shared virtual world where individuals can interact with one another and digital objects in real-time. The term has recently been applied to the growing trend of virtual and augmented reality (AR/VR) technologies, used to create interactive and engaging digital experiences. One of the most promising applications of the metaverse is in corporate training.
A Verified Market Research report showed that the metaverse market was valued at $27.21 billion in 2020 and is expected to grow at a 39.1% CAGR from 2022 to 2030. Virtual and realistic training environments for employees can provide many benefits to organizations, but implementing a metaverse in corporate training also comes with challenges. Despite this, the metaverse holds great potential for corporate training.
Improving Corporate Training with Metaverse
7 Advantages of Including Metaverse in Corporate Training
Metaverse technology is gaining popularity and has the potential to transform corporate training. The virtual reality environment offers several benefits, including:
- Immersive Experience: The metaverse provides a realistic and immersive experience that can’t be achieved with traditional training methods like video or text-based training. Learners feel like they are in the environment, making the training more engaging and memorable.
- Gamification: Adding game-like elements to training makes it more enjoyable and fun. Employees can participate in virtual scenarios and competitions, encouraging them to learn and apply new skills. In a metaverse gaming environment, Non-fungible Tokens (NFTs) can serve as incentives for players to strive for higher achievements.
- Collaborative Learning: The metaverse creates a collaborative learning environment where employees can work together in virtual teams, helping to build teamwork and communication skills and increase employee engagement in the training program.
- Virtual Meetings: The metaverse can be used for virtual meetings and training sessions, allowing employees to participate from anywhere in the world, reducing the cost and time associated with on-site training sessions.
- Customizable Content: The metaverse allows for customization of content, making it easier for trainers to create programs tailored to the specific needs of their organization. The ability to translate across metaverse worlds expands diversity and enables corporations to reach employees beyond geographical and demographic limitations, effectively scaling training programs.
- Realistic Scenarios: The metaverse can be used to create realistic scenarios for learners to practice in. Sensors and digital twins allow for the creation of virtual replicas of operational sites, giving learners the chance to explore the effects of modifications on actual assets through simulation. This enhances information retention among learners.
- Accessibility: The metaverse is accessible to a wide range of learners, regardless of location or physical abilities. Digital twins make subject matter experts accessible virtually, making it easier for companies to provide training to employees in different parts of the world or with disabilities that prevent participation in traditional training programs.
The Future of Metaverse and Online Corporate Training
The future of metaverse is looking bright and eLearning is expected to greatly benefit from it.
Data Analytics for Improved Learning
Data analytics now allows for the understanding of what drives learner progress, highlighting areas for improvement and enhancing the overall learning experience. This includes analyzing participation levels, attention to detail, engagement statistics, behavior patterns, and predicting future learning. These insights could drive the development of new and innovative learning approaches.
Emergence of Visual Representation and Narration
With the emphasis on visualization and storytelling in the metaverse, platforms like Zoom, MS Teams, and Google Meet may face competition. Visualizing plans and strategies before implementing them can help solve global problems such as climate change.
The Benefits of Virtual and Hybrid Learning
Gain hands-on experience by tackling real-life scenarios and complex situations. Although mistakes may happen, their impact will not be severe. The integration of data science and spatial design in the metaverse improves student engagement and job performance. The concepts of “experiential learning” and “deliberate practice” will become increasingly important.
The concept of the metaverse has fascinated many for years, and with advancements in technology such as virtual reality, augmented reality, and blockchain, it is finally becoming a reality. As the technology of the metaverse continues to evolve, it is crucial for organizations to keep up with the latest developments and trends. This will allow them to fully reap the benefits of the metaverse and build a more resilient future for their employees and organizations.
The use of the metaverse in corporate training programs holds great potential to revolutionize the way organizations conduct their training and development programs. Its immersive experience, affordability, flexibility, interactivity, realistic scenarios, customization options, and ease of use make it a powerful tool to enhance the effectiveness of corporate training programs.