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Metaverse expectations high among Aussie executives

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Over 90 per cent of local executives believe the metaverse will have a positive impact on their organisation.

Eight in 10 Australian executives said their organisations are dependent on AI to function effectively and 96 per cent said AI is becoming pervasive, according to the Accenture Technology Vision 2022.

The report, compiled by Accenture and released this week, revealed that while Aussie executives have embraced AI, most are worried about security breaches and frauds impacting these systems.

In fact, 100 per cent of Australian executives surveyed by Accenture said they are concerned, at some level, about deep fakes or disinformation attacks.

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Primarily focused on the metaverse, the research revealed that most Australians had never heard of the metaverse or had heard the term but didn’t know what it means. This lack of knowledge is higher than the global average which sat at 65 per cent.

However, despite low awareness among the general public, 93 per cent of Australian executives believe it will have a positive impact on their organisations, and 91 per cent agreed that the realisation of Web 3.0 over the next decade will fundamentally change how businesses engage with users online. 

“The next generation of the internet is unfolding and will drive a new wave of digital transformation far greater than what we’ve seen to date, transforming the way we all live and work,” said Paul Daugherty, group chief executive for technology at Accenture.

As part of the report, Accenture surveyed more than 4,600 business and technology leaders across 23 industries in 35 countries.

At this early stage, 71 per cent of executives believe the metaverse will have a positive impact on their organisation and 42 per cent believe it will be breakthrough or transformational. 

“As the line between people’s physical and digital lives further blurs, organisations have the opportunity and obligation now to build a responsible metaverse  addressing issues like trust, sustainability, personal safety, privacy, responsible access and use, diversity and more,” Mr Daugherty said.

“The actions and choices they make today will set the stage for the future.”

Metaverse expectations high among Aussie executives

Over 90 per cent of local executives believe the metaverse will have a positive impact on their organisation.

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Maja Garaca Djurdjevic

Maja Garaca Djurdjevic

Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.

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