The Upsides and Risks of Extended Reality and the Metaverse
Extended reality (XR). Distributed ledgers. Non-fungible tokens. Web3. The convergence of these emerging technology trends is fueling the rise of the metaverse – an immersive, interconnected 3D world poised to redefine how we live, work, and socialize. What could the metaverse mean for your business and what role can your internal audit function play?
As businesses actively explore and evaluate immersive experience related technologies, internal audit (IA) leaders need a seat at the table from the start. Business and technology stakeholders may be focused on the potential upside of these innovations. IA teams need to help them in assessing relevant risks, whether current or speculative how to mitigate these risks, and how to create trust at every turn.
Internal Audit functions should innovate to create and maintain ways to evaluate and monitor new and emerging infrastructures and systems to support metaverse and web3 technologies—if an organization decides to adopt or experiment. The IA function can use these strategic shifts to serve as a trusted adviser, bringing the right insights to planning discussions and providing consultative support or real-time assurance.
Digital Internal Audit: The Upsides and Risks of Extended Reality and the MetaverseDownload PDF
As the confluence of disruptive technologies starts to change how people work, learn, and play on a global scale, there is also uncertainty, confusion, and the sheer speed of change that can make entry seem overwhelming. We believe the metaverse is the key to staying ahead—that’s why we’re leading the industry.
We have already started supporting early adopters in deploying metaverse capabilities, incubating innovative offerings, and providing strategic and technical support across the metaverse ecosystem.