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      Digital dexterity remains a priority for tech company CEOs

      Business agility has become inextricably linked with the evolution of tech. From the Internet of Things to blockchain and AI, technology continues to shape the trajectory of businesses, improving better communication, productivity and efficiency at the workplace.

      From entering new markets to retaining customers and realising operational efficiencies, capitalising on new tech can help tech companies achieve new heights. As market forces shape new industry and consumer trends, tech companies are increasingly turning to tech to stay ahead. In this report, we examine the strategies and trends impacting the innovation solutions at tech companies as they readapt and realign goals to reach new frontiers. 

       

      metaverse-employees-2023.pdf

      Unlocking the metaverse for tech company employees

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      70%

      report having an aggressive digital
      investment strategy

      Advancing digitisation and connectivity across the business

      were tied for the top operational priority to achieve three-year growth objectives

      69%

      believe they need to be quicker to shift
      investments into digital opportunities and
      divest in areas that face digital obsolescence

      The metaverse’s impact on tech company employees and internal processes

      Many believe the metaverse is the next paradigm-changing technology. Yet with any fledgling technology whose use cases are still being developed, companies must decide where and how to apply it first to start reaping the biggest benefits.

      In a recent study of 767 technology, media, and telecommunications (TMT) executives conducted by Forrester Consulting on behalf of KPMG International, TMT leaders acknowledge that early uses are more likely to be for internal activities like employee onboarding, education, and collaboration.

      TMT leaders project that approximately one out of every seven dollars (i.e., 15 percent) of their company’s metaverse investment will be allocated to internal use cases that enable employee collaboration and enhance the employee experience. The report also discusses the strong incentive for investing in the metaverse to boost employee retention. Additional insights include the following:

      language

      The top near-term use case

      (present to 3 years out) identified by technology company leaders was employee training and onboarding

      person

      35%

      believe success with the metaverse includes employees using the metaverse to support customers

      settings

      34%

      believe success with the metaverse includes employees using the metaverse to support internal processes

      Considerations for tech companies

      Use the metaverse and other emerging technologies to develop and retain talent

      The technology investments made during the pandemic paid off in terms of employee productivity and collaboration. For example, the tech sector readily engaged automation for transactional tasks, freeing employees to be upskilled to deliver other knowledge-based work that is in high demand but short supply. New technologies, including the metaverse, create opportunities for learning new skills, exposure, and career growth.

      No company, however, can afford to rest on its laurels. Emerging technologies must constantly be vetted for their internal and external utility, and the metaverse is no exception as it may be key to the future of work and corporate diversity initiatives.

      Begin your metaverse journey at home

      Change starts from within. Pilot your metaverse capabilities, knowledge, and readiness internally before expanding your capabitilies outwards. This will provide you with valuable early experience at lowered costs and provide you with key insights to take note of when you decide to engage with customers on the metaverse platform. 

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      Bradley Styles
      Bradley Styles

      Partner, Technology Assurance, Head of IT Audit

      KPMG in Singapore

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