Unlock Metaverse

Potentials in Finance
BRIBRAIN Center of Excellence Department
Digital Banking Development & Operation Division
May 2023

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 6 Digital Innovation Megatrends to Watch

The Industrial IOT /

The great retail The mobility Digitization of Digital
virtualization Supply chain
integration revolution social life urbanization
of services digitization

The consolidation of The provision of services Highly developed Consumers are moving Massive scope for Smart city applications
retail sectors will online will take center shared mobility more and more of efficiency gains, as the have focused on areas
continue, integrating stage as breakthroughs in network will their social industrial internet of like security & traffic
omnichannel retail consumer adoption, in increasingly be interactions and things (IIOT) is management, and 5G
with the on-demand part driven by COVID-19, powered by the leisure activities into deployed at scale to networks & edge
economy, the social are accelerating the availability of electric virtual domains which transform digital computing advances
economy, & the retail digitization of service vehicles (EVs) and are accelerated during manufacturing, digital are to usher in a new era
supply chain provision across a range connected “smart COVID-19 pandemic. supply chain for cities as integrated
of sectors. vehicles”, with full development, & digital platforms.
autonomous driving blockchain-based
fleets on the horizon. inventory management.

Source: McKinsey, 2021, The Future of Digital Innovation

 What is Metaverse?

Metaverse is all about virtual worlds. It provides an immersive way to visualize,

collaborate and socialize things in extended reality. Extended reality comprises
of Augmented reality, Virtual reality and Mixed reality.

“The metaverse concept draws its strength

from a vision where users can play, work and
stay “connected” with the others” Mark Vena.

“The Metaverse is defined as the convergence

of physical, augmented, and virtual reality in a
shared online spaces.”

“Metaverse is a digital space that inhabited by

representations of people, places, and things”

“The metaverse is the next evolution of social

connection”

Source: McKinsey, 2021, What is the metaverse?

 Metaverse Opportunities in Numbers

1 Socialize 2 Create

60B $80M
Approximately 60 billion GDP for Second Life was
messages are sent daily on about $650M in 2021 with
Roblox nearly $80M USD paid to
creators

3 Own 4 Transact

$41B $54B
Non-fungible tokens Spent on virtual goods, almost
(NFTs) currently have a double the amount spent
market cap of $41 billion buying music

Source: Moy, C., Gadgil, A, 2022, Opportunities in the metaverse, JPMorgan

 Gartner Hype Cycle for Emerging Technologies
Gartner hasn’t officially mapped the Metaverse, but they pegged NFTs right at the “Peak of Inflated Expectations”.

2017 Hype Cycle 2018 Hype Cycle 2022 Hype Cycle

Deep Learning Plateau will be reached in: Deep Neural Nets (Deep Plateau will be reached in: Plateau will be reached in:
Learning) Metaverse ??
Less than 2 years Less than 2 years <2
Digital Twin Carbon Nanotube Nonfungible Tokens (NFT)
Connected Home Machine Learning 2 to 5 years 2 to 5 years 2-5 years
Biochips IoT Platform
Virtual Assistant 5 to 10 years 5 to 10 years 5 to 10 years
Autonomous Vehicles Smart Workspace
More than 10 years Virtual Assistant More than 10 years Data Fabric >10 years
IoT Platform Nanotube Electronics Brain-Computer Interface AI-Augmented Software
Autonomous Mobile Robots Silicon Anode Batteries Engineering Decentralized Identity Obsolate before plateau
Cognitive Computing
Employee Communications
Smart Robots Smart Robot
Blockchain Applications
Edge Computing Blockchain Deep Neural Network ASICs
AI PaaS Composable
Commercial UAVs (Drones) Applications
Augmented Data Discovery Volumetric Displays
Smart Workspace 5G
Conversational User Connected Home Generative AI
Volumetric Displays
Interfaces
Brain-Computer Interface Cognitive Expert Advisors Self-Healing System Technology
Autonomous Driving Level 4 Multiexperience
Volumetric Displays Conversational AI Platform

Quantum Computing Autonomous

Driving Level 5 Mixed Reality
Edge AI Digital Humans
Digital Twin Active Metadata
Real-Time Incident Management
Serverless Blockchain for Data
Paas Center-aaS
Security
Expectation

Expectation

Expectation
Decentralized Finance
5G Neuromorphic Hardware
Human Composable Networks

Human Augmentation
Knowledge Graphs
Augmentation Enterprise Self-Integrating
Neuromorphic Taxonomy and 4D Printing Applications
Hardware Ontology
Management Virtual Reality Homomorphic
Deep Reinforcement Encryption
Learning
Artificial General Artificial General Industry Clouds
Intelligence Intelligence
4D Printing
Augmented Sovereign Cloud
Augmented
Reality Reality Physics Informed AI
Software- Smart Dust
Defined Named Data Networking
Security Flying Autonomous Vehicles Machine Readable Legislation
Influence Engineering
Biotech-cultured or Artificial Tissue AI-Driven Innovation
Smart Dust
AI-Augmented Design
Quantum ML
As of July 2017 As of July 2018
Digital Platform Conductor Tools As of August 2021
Peak of Peak of
Innovation Trough of Slope of Plateau of Innovation Trough of Slope of Plateau of Peak of
Inflated Inflated Innovation Trough of Slope of Plateau of
Trigger Disillusionment Enlightenment Productivity Trigger Disillusionment Enlightenment Productivity Inflated
Expectations Expectations Trigger Disillusionment Enlightenment Productivity
Expectations

Time Time Time

Source: Gartner, 2022, What’s New in the 2022 Gartner Hype Cycle for Emerging Technologies
 The Value Chain:
The Five Layers of the Metaverse

Experience
Games, Social, E-sports, Theater, Shopping

Discovery

Ad Networks, Social, Curation, Ratings,

Stores, Agents
Creator Economy

Design Tools, Asset Markets, Workflow, 3D

Engines, Geospatial Mapping, Edge
Human Interface Computing, Microservices, Blockchain

Mobile, Smartglasses, Wearables, Haptic,

Infrastructure Gesture, Voice, Neural

5G, WiFi 6, 6G, Cloud, 7nm to 1.4nm, MEMS,

GPUs, Materials

Source: Syz Private Banking, 2021, How to invest in the "metaverse"?

 For business, the implications of an immersive, persistent and
decentralized digital world could be enormous.

Global Metaverse Potential Total

Addressable Market

$1.40T
6
$1.20T Reasons
Offer hardware and
Enrich the Companies are applications that
consumer
$1.00T
experience
Looking to support metaverse
Metaverse activities

$0.80T

$0.60T

Support metaverse
$0.40T Introduce virtual payments and
products, only finance
available in the
$0.20T metaverse

$0.00T

Developers/Creators Social Commerce Collect new Market physical

Hardware Advertising data on and digital products
customers and services
Digital Events

Source: PwC, 2021, Demystifying the metaverse

Metaverse: How Banks Ride The Wave?

Collaborative
Tool

Meta Horizon Workrooms Microsoft Mesh

2 3

Training
Virtual
and
Branch
Education

J.P. Morgan Hana Bank

 Several worldwide banking companies are already using
Augmented Reality for their various products

JP MORGAN Bank of America Desjardins Bank Westpac Bank

Source : Source : Source : Source :

Zack, 2016, JPMorgan enters Metaverse VRScout, 2021, Turns To VR For Soft Skills Training Staff, 2014, using AR NZ Techblog, 2014, Westpac delivers AR

Summary Summary Summary Summary

Help clients cut through the noise and Leverage VR training and other Educates the customers about Help customers see a summary of
highlight what the current reality is, in emerging technologies to improve different ways they can save money their account through interactive AR
order to maximize the full potential of employee performance, resulting in an for their retirement in the future by scanning their bank card.
our lives in the metaverse. overall better customer banking
experience.

JPM has opened a virtual lounge Bank of America use VR for soft skill Desjardins launched the app “Your Westpac Bank enhanced their mobile
named “Onyx lounge” in training to improve employee way Desjardins” to engage their application with augmented reality
Decentraland, a virtual world based on performance. customers. features.
blockchain technology
BRI Journey to Metaverse

Immersive Collaborations Branding Awareness: Virtual Concert, Podcast

Ongoing AR Development in BRI for 3 use cases: BRI AR Point, BRI AR Promo, BRI AR Card
THANK YOU