Industrial Metaverse

 

The Future of Production

Industrial Metaverse
 
 

As the potential third iteration of the internet, the metaverse represents a new digital technology capable of triggering the next wave of digital disruption. Yet still in its infancy, the emerging technology promises several benefits for existing businesses. Based on technological advances that allow the merging of the physical and virtual worlds, the Metaverse enables radical new approaches for teamwork, collaboration and mobility. Particularly in the manufacturing industry, the so-called industrial metaverse appears to be the way ahead to create a lasting competitive advantage. Pioneering manufacturing companies are developing ways to create a digital twin of their production plants to improve current processes and thus increase efficiency and reduce costs. Transforming physical environments and objects into a virtual world provides the ability to analyze processes and data in real-time or even in advance, leading to more far richer results and better decision making. However, as the new technology is still relatively new, little is known about the actual benefits and drivers of the digital transformation towards the metaverse. Within our project, we are following a leading automotive manufacturer on its journey towards a successful introduction of the industrial metaverse. By empirically studying the process of developing and implementing the new digital technology, we aim to identify the drivers of change as well as the challenges along the way. Revealing the actual value and benefits of the metaverse to manufacturing companies, our findings are intended to assess the potential impact of this new technology on the manufacturing industry.