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Nasscom CoE To Hold Metaverse Conclave on October 13 In Bengaluru; To Discuss Business Potential

By: Business Desk

News18.com

Last Updated: October 07, 2022, 15:38 IST

New Delhi, India

The metaverse revenue opportunity is expected to reach $800 billion by 2024 globally.

The metaverse revenue opportunity is expected to reach $800 billion by 2024 globally.

The forum will bring together over 200 delegates, stakeholders to discuss metaverse applications across domains like education, retail, auto, banking and healthcare

Even as the world has seen digitalisation picking up quite fast in the recent past, the next-level technology Metaverse is going to further revolutionise the way people connect, communicate, and consume information. Against this backdrop, the Nasscom Centre of Excellence, in association with the electronics and IT ministry and K-Tech, is organising a first-of-its-kind Metaverse Conclave on October 13 in Bengaluru to discuss future business opportunities.

“The Metaverse revenue opportunity is expected to reach $800 billion by 2024 globally, which really speaks to the quantum of transformation that has just begun. The first-of-its-kind Metaverse Conclave, being held on October 13, 2022, in Bengaluru, aims to bring together industry leaders to spur engagements and discussion around future business opportunities and innovations in the Metaverse ecosystem," according to a statement.

The event, with the theme ‘Metaverse: Entering Into a New Reality’, is supported by industry partners like Innover, Kiya.ai, Aditya Birla Fashion Retail, Natixis, and KAS (K-Mart Australia). The forum will bring together over 200 delegates and stakeholders of the ecosystem, including large tech and non-tech enterprises, builders, innovators, investors, consultants, and key participants from the academia, to collaborate and exchange ideas for driving and leading the Metaverse revolution in India, the statement said.

Speakers at the event will include leaders across brands like Microsoft India, LuLu Group India, ACG, ABFL, Arvind Fashion, Mahindra Group, Britannia and Airtel. The conclave will spearhead discussions and showcase use cases across critical/strategic metaverse applications across domains including education, retail, automobile, banking and healthcare, among others.

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On the sidelines of the event, CoE will also unveil a report on the innovation ecosystem and business opportunities in Metaverse. The report will also elaborate on the current state of the market, important milestones, and players in the Metaverse universe.

Sanjeev Malhotra, CEO of Nasscom Centre of Excellence, said, “Metaverse is going to revolutionise and create a powerful way for consumers and businesses to interact. Growing rapidly from the early stage of development, adoption and implementation, Metaverse is the new paradigm."

He said that with its multifaceted benefits across industries and sectors, COE will co-create innovative solutions together with Enterprises and solution providers.

Rakesh Prasad, senior vice-president (digital Business) of Innover, said, “Metaverse has enabled new possibilities for businesses to transform the way they interact with their customers. It is only a matter of time before the idea of the Metaverse becomes an eventuality propelling business across industries."

He added that Innover has already created a niche in the evolving Metaverse space in the US by building tech-support lounges, virtual storefronts, and training modules for multiple esteemed clients.

Rajesh Mirjankar, MD & CEO of Kiya.ai, said, “Kiya.ai launched its indigenous metaverse platform Kiyaverse to enable businesses to provide their customers an immersive user experience that ensures jurisdictional compliance, data privacy and financial transactions on fiat currency."

He also said Kiyaverse eases the process of onboarding customers and enables relevant use cases for banking & finance, shopping, realty, training and culture and events. Kiyaverse platform provides a modern web architecture with behavioral engagement and analysis to ensure hyper-personalised consumer services and provides APIs to existing platforms.

“In India, Kiyaverse platform has enabled Bharatmeta.in to provide a metaverse ecosystem to businesses with interfaces to India stack. We are honored to be associated with NASSCOM COE IoT for this event on Metaverse that celebrates the strides towards a digital future made real," Mirjankar added.

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first published:October 07, 2022, 15:32 IST
last updated:October 07, 2022, 15:38 IST