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Accenture makes play in the metaverse scene with new biz group

Accenture makes play in the metaverse scene with new biz group

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Accenture is launching the Accenture Metaverse Continuum business group which is led by Paul Daugherty, group chief executive — technology and chief technology officer at Accenture and David Droga, CEO and creative chairman of Accenture Interactive.

Accenture also operates its own metaverse, the Nth floor, where the company’s people participate in new hire orientation and immersive learning or meet and socialise as teams. This fiscal year, the company expects 150,000 or more new hires will work in the metaverse on their first day. Accenture joins WPP, Dept, and Virtue as one of the companies with advertising capabilities to make a play in the metaverse.

While Accenture is unable to break down specific figures or share more about the operations, Flaviano Faleiro, Accenture Interactive’s president for growth markets, told MARKETING-INTERACTIVE that the business group is a multi-service group of highly skilled professionals from across Accenture to help clients shape, build and operate new digital experiences. It builds on Accenture’s existing capabilities in this space that combines metaverse-related technology capabilities with the creative strengths of Accenture Interactive.

Mars, for example, is one brand that is currently working with Accenture as well as Microsoft in embracing digital twins, which is one of the foundational elements of the metaverse, to reduce waste, increase speed and capacity, and empower its associates to make real-time decisions across its supply chain. Mars is now extending this concept to product development with digital simulations factoring in variability, such as climate and disruptions, and maintaining greater visibility from the point of origin to the place of consumption.

Globally, Accenture has 40 client engagements involving the metaverse. Some of the projects it has worked on in Asia through Entropia, part of Accenture Interactive, included BMW using AR for its X5 launch, the TM ONE XR City, and Pepsi's first-ever AR concert in Malaysia. 

"The formation of Accenture Metaverse Continuum is a strategic, rapid expansion of our metaverse solution offerings and underscores our leadership and continued commitment to delivering even greater value to our clients – at a time they need it most," Faleiro explained.

He added that the services from Accenture's Metaverse Continuum offer entry ramps for businesses to successfully begin and advance their metaverse learning and reimagination sessions, strategy projects, building experiences, and operations.

Meanwhile, according to a new Accenture report titled "Meet Me in the Metaverse: The Continuum of Technology and Experience Reshaping Business", at this early stage, 71% of executives believe the metaverse will have a positive impact on their organisation and 42% believe it will be breakthrough or transformational. The report surveyed more than 4,600 business and technology leaders across 23 industries in 35 countries.

Meanwhile, 79% of APAC executives (78% of Singapore executives) believe the metaverse will have a positive impact on their organisation and 46% of APAC executives (47% of Singapore executives) believe it will be breakthrough or transformational.

“With the metaverse converging physical and digital worlds, it is reshaping customer experience, revolutionising commerce, redrawing data strategies and marketing efforts and reimagining ways for human connection. The metaverse market opportunity is enormous and it is top-of-mind among APAC CMOs – 79% believe the metaverse will have a positive impact on their organisations, and 58% believe the impact will be breakthrough or transformational. The future of the metaverse is still open and brands are in prime position to shape this new reality. Now is the time for brand leaders to decide the role they will play – to be a changemaker in driving unique and compelling brand experiences or watch opportunities pass by.”

At the same time, 92% of APAC executives (98% of Singapore executives) believe that future digital platforms need to offer unified experiences, enabling interoperability of customers’ data across different platforms and spaces.

When talking about the metaverse, Faleiro said leaders must know that they are not just pioneering a new digital future, but a new future for human and enterprise interaction, where many of the rules remain undefined. Just as brands needed to fundamentally rethink how they reinvented their businesses in the early days of digital commerce, they must now step back and take a substantially different perspective on the path forward.

"Finding ways to stay relevant to their customer’s needs is not only essential but critical. Regardless of where the experience is created – in a physical or digital space or the in-between – a seamless experience that’s supported by the right innovative technologies affects the value that users will feel," he said.

One place every brand can start with the metaverse is with the employee experience to introduce immersive learning and new types of collaboration.

Depending on the nature of the business, there will be specific priorities. According to Faleiro, retailers and consumer brands should prioritise reimagining the products and services they provide, and the experience and connection with their customers. For example, instead of having customers shopping through aisles in a physical grocery store, the metaverse can bring the store into their kitchen – enabling a customer to open a digital refrigerator and shop for food in a virtual environment. Industrial brands may prioritise digital workforce experience through training and enablement, or manufacturing and industrial processes.

Related articles:
Heineken pokes fun at its own virtual beer in the metaverse
HSBC enters metaverse with Sandbox land to connect with gaming fans
SCMP brings Star Ferry Pier on to the metaverse
Dept joins metaverse race with Metaverse Practice launch
WPP makes a play for clients interested in metaverse with The Metaverse Foundry

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