Name: Should the metaverse be on your corporate innovation to-do list?
Uploaded: 2023-07-04T14:57:35.586Z
Duration: 761.88

Should metaverse be on the corpoate innovation to-do list 04.mp4

metaverse tech LS.vtt

English

{{00:00:00}}
Anytime I see augmented reality
glasses added to a workflow, the the

{{00:00:04}}
productivity and efficiency gains
are always double digits, always.

{{00:00:19}}
Hi, I'm Leslie Shannon, the head of
trend and innovation scouting for Nokia.

{{00:00:31}}
Metaverse technology is already
with us, but its effect is, is, is.

{{00:00:37}}
Small so far, and over the next
few years, we're really gonna see

{{00:00:39}}
it evolving and affecting many,
many corporate, and industry areas.

{{00:00:45}}
At Nokia we actually see the metaverse is
falling into three distinct categories.

{{00:00:48}}
One is the industrial metaverse,
one is the enterprise Metaverse,

{{00:00:51}}
and one is the consumer metaverse.

{{00:00:53}}
Part of the metaverse,
it depends on hardware.

{{00:00:56}}
And so for the consumer metaverse, we're
really still waiting for the hardware.

{{00:01:00}}
And the hardware specifically that we're
waiting for is augmented reality glasses

{{00:01:06}}
that will let us,  you know, we have
virtual reality headsets now, you know,

{{00:01:10}}
there's great ones out there for the
consumers, but, virtual reality has a

{{00:01:14}}
limitation in that when you put it on,
you're in a fully digital world that

{{00:01:17}}
cuts you off from the physical world.

{{00:01:19}}
And that's great, but you're not gonna
spend all your time there because at

{{00:01:22}}
some point you're gonna have to take
off the headset and go make dinner.

{{00:01:24}}
You know?

{{00:01:24}}
So, so, so what we're really waiting for
is the augmented reality headset that lets

{{00:01:30}}
you live your life in the physical world,
but with digital information and additions

{{00:01:35}}
and, you know, things added to it.

{{00:01:37}}
And so that, for me is the true metaverse.

{{00:01:39}}
That's a little bit down the, down the
path, but that's on the consumer side.

{{00:01:42}}
On the industrial and the enterprise
side, there's so much that's here

{{00:01:46}}
already because first of all,
there, and there's two categories.

{{00:01:49}}
There's the virtual reality where you've
got the full virtual reality headset

{{00:01:52}}
in a fully digital world, and then
you have the augmented reality where

{{00:01:56}}
you've got headsets that exists today.

{{00:02:00}}
They're a little bit heavy,
they're a little bit clunky.

{{00:02:02}}
The battery doesn't last that long.

{{00:02:04}}
But when you put them on, they enable you
to do things and to transform processes

{{00:02:10}}
and abilities of the average worker.

{{00:02:13}}
Particularly we're seeing in many
manufacturing, logistics, and, and

{{00:02:16}}
healthcare, kind of the, some of the
main, areas that are really showing up.

{{00:02:19}}
And, and people will put on something that
is heavy and like, clunky to do a job.

{{00:02:26}}
And then they'll wear it for however
long it takes to do the job, and

{{00:02:29}}
then they'll take it off again.

{{00:02:30}}
So that's why we have, you know, metaverse
experiences happening in corporations

{{00:02:35}}
right now,  where we're still waiting
a little bit on the consumer side.

{{00:02:46}}
All technology only has meaning if it's
actually in service of solving a problem.

{{00:02:52}}
And one of the problems when new
technologies come out is that everybody

{{00:02:56}}
tries to use it regardless of whether
they have a problem to solve or not.

{{00:03:00}}
So you really need to make sure
that if you know, if you're

{{00:03:03}}
thinking about using the metaverse,
don't just use it to use it.

{{00:03:07}}
Start with a problem.

{{00:03:08}}
And if the solution to the problem
leads you to a metaverse kind

{{00:03:11}}
of thing, then yes, go for it.

{{00:03:13}}
Because you will find the metaverse
is significant in what it can bring.

{{00:03:17}}
Now, some of the areas where me,
the metaverse as it exists today for

{{00:03:21}}
corporations is a truly powerful problem
solver is, it's the, the, the big category

{{00:03:28}}
of bringing together things that are
not together in the physical world.

{{00:03:32}}
And by that I mean, things like, presence.

{{00:03:36}}
One of the problems that a lot
of companies are faced with

{{00:03:38}}
right now is, is remote work.

{{00:03:40}}
Everybody is scattered around in their
homes and they're not getting together

{{00:03:44}}
in person, you know, ever maybe.

{{00:03:46}}
And, one of the things that's possible
in the metaverse is to actually have

{{00:03:51}}
a PC based client, and there's many
companies that will build something

{{00:03:55}}
like this for you, in which you
can be an avatar and everybody

{{00:04:01}}
else in your team can be an avatar.

{{00:04:02}}
And if you want to, you can
turn on your, your pc camera.

{{00:04:06}}
And so your actual photograph,
your, your current video can

{{00:04:08}}
like hover over the avatar's head
so people can actually see you.

{{00:04:12}}
But to be in a space, even though
it's on your computer to be with

{{00:04:18}}
your avatar and other avatars.

{{00:04:19}}
I know this sounds like crazy
if you haven't tried it.

{{00:04:22}}
It doesn't sound like it could be
compelling, but I tell you it is far

{{00:04:26}}
more compelling than being in a Zoom
call with people, being able to see

{{00:04:30}}
other people and to kind of see them
as they're moving around and when

{{00:04:32}}
they're not paying attention to you.

{{00:04:34}}
And it helps create that feeling of
actually being with another person.

{{00:04:39}}
It creates that presence and
that's something that we're often

{{00:04:42}}
missing in, in the corporate world.

{{00:04:44}}
Another area that is huge is training and
this is a virtual reality thing largely.

{{00:04:52}}
So training, any kind of training that is
difficult, dirty, dangerous, or expensive.

{{00:05:00}}
That virtual reality is a natural
fit for that kind of training.

{{00:05:03}}
So, bomb squads, you know, you
only get in, in the physical world.

{{00:05:09}}
You only get one chance to
try to diffuse this bomb.

{{00:05:12}}
In virtual reality you can do it
again and again, and again and

{{00:05:16}}
again, and, and again, and again
and again until you really know it.

{{00:05:20}}
And the same is true
with surgical training.

{{00:05:22}}
You can do it.

{{00:05:23}}
Again, and again, and
again, and again and again.

{{00:05:25}}
So things that before doctors had a
really hard time getting expertise

{{00:05:29}}
on because they only saw like one
case come up every five years.

{{00:05:33}}
So, now they can really get
themselves up to speed beforehand.

{{00:05:37}}
And the same is true for all
kinds of corporate trainings

{{00:05:40}}
because the only cost after you've
created the program is your time.

{{00:05:45}}
There's no instructor cost anymore.

{{00:05:47}}
You can do it as many
times as as necessary.

{{00:05:50}}
But, and the flip side of virtual
reality training is that because it's

{{00:05:54}}
all digital, everything is measurable
and so they can measure how many seconds

{{00:05:59}}
it took you to, you know, go from step
A to step B in this oil pipeline turning

{{00:06:06}}
off procedure and, and if there's like
this huge hesitation, even though in

{{00:06:11}}
the end you did all the steps in the
correct order and you know, and it worked.

{{00:06:14}}
The fact that you like waited for
two minutes between step three and

{{00:06:17}}
step four is maybe a sign that you
are not ready for certification.

{{00:06:21}}
So there's a granular understanding
of the person's actual skill that's

{{00:06:24}}
possible through these things.

{{00:06:33}}
As far as training goes, the metaverse
genuinely any industry that involves

{{00:06:38}}
any kind of training, particularly if
they want to make it more affordable

{{00:06:43}}
and, and especially get training
with specific equipment sent out

{{00:06:47}}
to people who are in remote areas.

{{00:06:49}}
The state of Nevada is actually doing
a really interesting thing with this.

{{00:06:53}}
There's a lot of people in remote
towns in Nevada who need dialysis.

{{00:06:57}}
And so getting dialysis technicians
who are also located in those remote

{{00:07:01}}
towns is a problem because they need
to come into the big city, whatever,

{{00:07:05}}
big city to get the training.

{{00:07:07}}
And so what they're doing is they're
starting to  give out virtual reality

{{00:07:12}}
headsets through the library system.

{{00:07:14}}
And so in remote towns then people can
actually get the dialysis training,

{{00:07:19}}
get certified and begin to a career
as a dialysis technician without

{{00:07:24}}
ever leaving their small town.

{{00:07:25}}
This is really transformative stuff.

{{00:07:28}}
There's a whole emotional component to
virtual reality that's extremely, it's,

{{00:07:33}}
it's better than almost anything that
we've seen because it really lets you

{{00:07:36}}
have person to person sorts of things.

{{00:07:38}}
So they've done studies where if you are
with say, a therapist in virtual reality,

{{00:07:44}}
people are more likely to open up if
they feel they're talking to a computer

{{00:07:48}}
that's not gonna judge them than they
are in talking to an actual human being.

{{00:07:58}}
Where corporations and particularly
industrial, and so as I said, you know,

{{00:08:02}}
Nokia, we make the distinction industrial
enterprise and consumer enterprise is

{{00:08:07}}
really that whole virtual reality category
of training that I was just talking about.

{{00:08:10}}
But where we're really seeing companies
making significant productivity gains

{{00:08:15}}
that, you know, go directly to the bottom
line are is in the industrial sphere.

{{00:08:19}}
And this is happening now.

{{00:08:20}}
And a lot of this is actually with
augmented reality headsets, you

{{00:08:25}}
know, again, a little big and clunky.

{{00:08:26}}
You're not gonna wear them as a
fashion statement because they're not.

{{00:08:30}}
But on the factory floor, particularly
in manufacturing, anything where you

{{00:08:36}}
need to have some kind of information,
but you need to have both hands free.

{{00:08:40}}
So a lot of the information that until
recently was contained maybe on a tablet.

{{00:08:44}}
Or on a screen or, you know, way
back, you know, in books, huh?

{{00:08:48}}
Now it can actually be
delivered to you hands free.

{{00:08:52}}
Either in, you know, as simple as
here's the written words of the

{{00:08:56}}
instructions of the thing that you
need to do, and you're just reading

{{00:08:58}}
the words as you're doing the thing.

{{00:09:00}}
Much more advanced, but also exist
today is cameras looking at what

{{00:09:05}}
you're doing using visual analytics.

{{00:09:08}}
You know, sending the video feed
somewhere else, the computer analyzes

{{00:09:11}}
the feed, and then it brings back a
digital information overlay to show

{{00:09:17}}
you if you're getting it right or not.

{{00:09:19}}
And so one of the first companies
to start using this, this kind of

{{00:09:23}}
technology was Boeing because you
know, airplanes have something like

{{00:09:27}}
10,000 miles of wiring in them.

{{00:09:29}}
I mean, it's crazy.

{{00:09:30}}
And wiring up a single aircraft, is a high
stress job because the pressure is on.

{{00:09:38}}
If you get one wire wrong you
know, on Tuesday this plane

{{00:09:43}}
could crash three years from now.

{{00:09:45}}
And you know, ah, who needs that pressure?

{{00:09:48}}
With augmented reality glasses, the
workers can have the assurance that

{{00:09:53}}
what they're doing is the right thing
and they could sleep better at night.

{{00:09:57}}
So stress levels have come down, employee
satisfaction has gone up, accuracy

{{00:10:02}}
has gone up, you know, anytime I see
augmented reality glasses added to

{{00:10:07}}
a workflow, the the productivity and
efficiency gains are always double digits.

{{00:10:12}}
Always, and, and employee satisfaction
goes up as well that is happening today.

{{00:10:17}}
And so, you know, if you want, you know,
if you have some kind of particular,

{{00:10:21}}
you know, process where people are
doing things and accuracy is important.

{{00:10:27}}
Definitely look into
augmented reality right now.

{{00:10:35}}
A lot of temp companies are not
leaping into this because they

{{00:10:38}}
are, they're they, you know,
there there's a couple challenges.

{{00:10:40}}
And so one of them is just awareness, just
even knowing that this stuff is out there.

{{00:10:45}}
So that's number one.

{{00:10:46}}
And then the second is
having the courage to try it.

{{00:10:50}}
Especially, you know, when the people
who are in charge are maybe older and

{{00:10:57}}
more traditional and like not all excited
about these newfangled technologies.

{{00:11:02}}
And, and so that's a, that's a challenge.

{{00:11:05}}
It's a challenge everywhere.

{{00:11:06}}
And the best advice that I have
for, you know, for helping your

{{00:11:11}}
company get onto this path is,
first of all, remember the internet.

{{00:11:16}}
Remember how the internet
began and it was kind of young,

{{00:11:19}}
crazy people who were using it.

{{00:11:21}}
And a lot of companies are like,
I really don't see the point.

{{00:11:23}}
And then suddenly, Sears had gone
out of business because Amazon

{{00:11:28}}
had taken all of their stuff
because they had been on the web.

{{00:11:31}}
You know, I mean, this is the
kind of stuff that's gonna be

{{00:11:32}}
happening with the metaverse.

{{00:11:33}}
You need to be paying attention to
this because it could disrupt you.

{{00:11:37}}
Companies who are using
it could disrupt you.

{{00:11:40}}
That's the fear message.

{{00:11:42}}
And then, but then there's the
opportunity message, which is even bigger.

{{00:11:45}}
It's like you will be able to have
productivity gains, but how you actually

{{00:11:49}}
introduce that into your company
is you need to have a visionary.

{{00:11:52}}
The visionary, if they can find a
senior sponsor, some executive that

{{00:11:56}}
you can get to believe and showing
is always better than telling.

{{00:12:00}}
So if you can, you know, figure out
something that you think your company

{{00:12:04}}
would benefit from, and the companies
who are out there doing VR and AR work,

{{00:12:08}}
they are more than happy to work with any
company to help introduce the technology.

{{00:12:12}}
And so find a, all you need is a
single executive sponsor and show

{{00:12:17}}
them the stuff and get a pilot going
and, people will see this, if it's

{{00:12:23}}
done right and if you're actually
solving a problem with it, not just

{{00:12:27}}
building something to build something.

{{00:12:29}}
So careful about that.

{{00:12:31}}
If you can demonstrate value
with that first pilot project,

{{00:12:34}}
you'll be well on your way.

Anytime I see augmented reality
glasses added to a workflow, the the

productivity and efficiency gains
are always double digits, always.

Hi, I'm Leslie Shannon, the head of
trend and innovation scouting for Nokia.

Metaverse technology is already
with us, but its effect is, is, is.

Small so far, and over the next
few years, we're really gonna see

it evolving and affecting many,
many corporate, and industry areas.

At Nokia we actually see the metaverse is
falling into three distinct categories.

One is the industrial metaverse,
one is the enterprise Metaverse,

Part of the metaverse,
it depends on hardware.

And so for the consumer metaverse, we're
really still waiting for the hardware.

And the hardware specifically that we're
waiting for is augmented reality glasses

that will let us,  you know, we have
virtual reality headsets now, you know,

there's great ones out there for the
consumers, but, virtual reality has a

limitation in that when you put it on,
you're in a fully digital world that

And that's great, but you're not gonna
spend all your time there because at

some point you're gonna have to take
off the headset and go make dinner.

So, so, so what we're really waiting for
is the augmented reality headset that lets

you live your life in the physical world,
but with digital information and additions

And so that, for me is the true metaverse.

That's a little bit down the, down the
path, but that's on the consumer side.

On the industrial and the enterprise
side, there's so much that's here

already because first of all,
there, and there's two categories.

There's the virtual reality where you've
got the full virtual reality headset

in a fully digital world, and then
you have the augmented reality where

They're a little bit heavy,
they're a little bit clunky.

But when you put them on, they enable you
to do things and to transform processes

Particularly we're seeing in many
manufacturing, logistics, and, and

healthcare, kind of the, some of the
main, areas that are really showing up.

And, and people will put on something that
is heavy and like, clunky to do a job.

And then they'll wear it for however
long it takes to do the job, and

So that's why we have, you know, metaverse
experiences happening in corporations

right now,  where we're still waiting
a little bit on the consumer side.

All technology only has meaning if it's
actually in service of solving a problem.

And one of the problems when new
technologies come out is that everybody

tries to use it regardless of whether
they have a problem to solve or not.

So you really need to make sure
that if you know, if you're

thinking about using the metaverse,
don't just use it to use it.

And if the solution to the problem
leads you to a metaverse kind

Because you will find the metaverse
is significant in what it can bring.

Now, some of the areas where me,
the metaverse as it exists today for

corporations is a truly powerful problem
solver is, it's the, the, the big category

of bringing together things that are
not together in the physical world.

And by that I mean, things like, presence.

One of the problems that a lot
of companies are faced with

Everybody is scattered around in their
homes and they're not getting together

And, one of the things that's possible
in the metaverse is to actually have

a PC based client, and there's many
companies that will build something

like this for you, in which you
can be an avatar and everybody

And if you want to, you can
turn on your, your pc camera.

And so your actual photograph,
your, your current video can

like hover over the avatar's head
so people can actually see you.

But to be in a space, even though
it's on your computer to be with

I know this sounds like crazy
if you haven't tried it.

It doesn't sound like it could be
compelling, but I tell you it is far

more compelling than being in a Zoom
call with people, being able to see

other people and to kind of see them
as they're moving around and when

And it helps create that feeling of
actually being with another person.

It creates that presence and
that's something that we're often

Another area that is huge is training and
this is a virtual reality thing largely.

So training, any kind of training that is
difficult, dirty, dangerous, or expensive.

That virtual reality is a natural
fit for that kind of training.

So, bomb squads, you know, you
only get in, in the physical world.

You only get one chance to
try to diffuse this bomb.

In virtual reality you can do it
again and again, and again and

again, and, and again, and again
and again until you really know it.

And the same is true
with surgical training.

Again, and again, and
again, and again and again.

So things that before doctors had a
really hard time getting expertise

on because they only saw like one
case come up every five years.

So, now they can really get
themselves up to speed beforehand.

And the same is true for all
kinds of corporate trainings

because the only cost after you've
created the program is your time.

You can do it as many
times as as necessary.

But, and the flip side of virtual
reality training is that because it's

all digital, everything is measurable
and so they can measure how many seconds

it took you to, you know, go from step
A to step B in this oil pipeline turning

off procedure and, and if there's like
this huge hesitation, even though in

the end you did all the steps in the
correct order and you know, and it worked.

The fact that you like waited for
two minutes between step three and

step four is maybe a sign that you
are not ready for certification.

So there's a granular understanding
of the person's actual skill that's

Expert Insight

The metaverse has been on the tip of everybody's tongue since 2021, with meta tech becoming more available to businesses worldwide. But there is still room for development of this is pioneering technology. Leslie Shannon, Head of Innovation and Trend Scouting at Nokia, lays down all the reasons why metaverse tech should be on your corporate innovation to-do list, and explains how to become a metaverse disruptor, instead of the disrupted.

Digital Transformation

Digital innovation

Metaverse

Web 3.0

Virtual reality

Augmented reality

Meta tech

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leslie-shannon-e41b3ce990a7e535b73ea6cc999c07aa.jpg

Leslie Shannon

Head of Ecosystem and Trend Scouting

To better understand metaverse technology, you must first understand the differing markets the tech serves. Shannon talks us through the three distinct categories that Nokia recognises as the metaverse consumer markets.


Nokia's method of metaverse categorisation

As exciting as it is to have state of the art technology - it's important to know whether the tech is right for your business. Shannon says, "If you're thinking of using the metaverse in your workflow, don't just use it to use it." 


Should I be using meta tech?

Do you want to try meta tech but don't know how to start? Shannon details how you can take the tech on, avoid company-wide disruption and in turn, evolve your company. 