With Tech Mahindra recently launching its metaverse practice, TechMVerse, News18 spoke to Kunal Purohit, chief digital services officer of the company, on the new concept.
Metaverse isn’t new. It was initially detailed in the novel, Snow Crash, published in 1992, which led to several firms launched online communities based on it.
It is basically a virtual environment where people can live, work, shop and engage with others all from the comfort of their living room. Avatars are used in the metaverse to represent oneself.
Users can also use a virtual reality headset and controllers to journey through the metaverse for leisure with no specific objective in mind.
So what is TechMVerse? Kunal Purohit answers News18’s questions:
TechMVerse is our metaverse practice which will allow Tech Mahindra to transform customer experience and deliver real business outcomes by enabling greater interactive and immersive experiences than before.
It is a combination of our best-in-class software and hardware capabilities to offer a superlative, three-dimensional visual experience to our customers. Our uniquely differentiated offering is focused on solving complex business problems and driving monetization across our customers’ businesses through a combination of domain and design expertise across AI, Web3 (Blockchain, NFT, Decentralized Identities), Quantum Computing, 5G, and Digital accelerators.
We have adopted a mobile and web-first approach based on augmented and mixed reality that is backed by robust infrastructure with components such as 5G, WiFi, Edge and Hardware combined with Software components like Edge Compute, IoT devices, AI agents and Blockchain to drive the creator economy.
Tech Mahindra’s TechMverse enables metaverse across its seven main layers:
- Experience: Avatar-based live operations, virtual events and real-world integration
- Monetisation: NFT marketplaces, currency and commerce management, and analytics
- Content: NFT creation, avatar creation, environment creation, creator economy fuelled by NFTs
- Spatial computing: 3D virtual world creation
- Software + IOT: Autonomous avatars and platform development
- Human experience interface: Device engineering and testing, data management (through partners)
- Infrastructure: 5G Infra Core/RAN dev and integration, cloud engineering and management, security ops and network deployment
- Tech Mahindra will leverage its foundational technological capabilities, including pervasive artificial intelligence (AI), blockchain, 5G, augmented reality (AR), virtual reality (VR), and quantum computing to build B2B use cases across sectors.
WHAT IS UNIQUE?
We firmly believe that TechMVerse is uniquely positioned to create a niche for itself and thereby we do not see ourselves competing with any specific company in the market.
TechMVerse has been launched to become industry’s de-facto answer to conceptualize and implement next-generation use cases that focus on convergence of physical and digital worlds by breaking down of boundaries and democratizing access to key goods, services, and experiences. This will also involve collaboration with industry partners and hyper-scalers in specific areas to maximize value delivered to end customers.
Further, we are offering services across the value chain that will help to redefine product-price-performance equation across our industry use cases for avatar-as-a-service, meta environment development, NFT marketplaces, gaming guilds, meta gaming, web3 services, meta content management services, tech support services, engineering and 5G optimization services, meta studio – trained resources
WHO WILL BENEFIT?
Tech Mahindra has 1,000+ customers across diverse industries namely communications, banking and financial services, media and entertainment, manufacturing, retail, travel and logistics, hospitality, oil and gas, government and healthcare. We will take our uniquely differentiated offerings to all of them as well as newer customers who would want to experience.
The emergence of any new technology brings with it opportunities for businesses to develop new digital strategies and even find new business streams. Simultaneously, it also entails a few challenges and risks that must be dealt with adeptly. Currently, billions of dollars are flowing into the metaverse space. However, concerns over return on investment remain.
In terms of challenges, just like social media platforms, we anticipate privacy issues to be at the forefront of the metaverse as it develops and begins to grow and gain widespread adoption. Metaverse platforms will be more intimate in nature and more amount of personal data will be collected, thereby making privacy a cause for concern. Having said that, as Metaverse expands, so will privacy laws and regulations. At Tech Mahindra, we will be 100% compliant with all the regulations set by the respective national governments.
Tech Mahindra has created a comprehensive service suite of Metaverse offerings that we plan to take to customers across industries. We will achieve it through a mix of in-house and partner capabilities. We intend to:
Create a multitude of industry and use-case specific tailored environments
Combine our design leadership with strengths in Blockchain, AI, 5G and Quantum Computing to create truly immersive experiences
Offer advanced use cases such as Gene sequencing, Factories-of-the-Future, Drug Discovery among others that truly showcase the innovation and potential of metaverse in complex industrial use cases
Setup a Silicon Valley Metaverse Immersion Studio for customers to integrate their products with the ecosystem and test interoperability of their metaverses and environments
Scale to 1000+ strong core team as below:
Research & development team: Trained resources in frontend and backend technologies and languages like Unity, Unreal, 3D Max, Maya, Content Management Systems (CMS) among others
Marketing and sales team: Proficient professionals from existing competencies in Blockchain / Makers Lab who will work alongside Rainmakers / Client Partners
Delivery team: Fulfilled in-house through the Makers Lab + Augmented team of trained resources
Support team: Offer chat/telephonic support and manage tickets on a 24/7 basis
FUTURE OF METAVERSE
At Tech Mahindra, we see a huge metaverse opportunity in India. There are several factors that will contribute to the growth of metaverse in India, including best-in-breed technology ecosystem, thriving culture of entrepreneurship, increasing smartphone adoption, affordable mobile data and a young, vibrant millennial population. In essence, the country is well-equipped to lead on both the supply and demand front in metaverse adoption.
ALSO READ | Daler Mehndi Buys Virtual Property in Metaverse, Names it ‘Balle Balle Land’
AWARENESS ABOUT METAVERSE
We think that metaverse is slowly becoming a reality. We see kids already meeting in the metaverse and enjoying birthday parties. Events from well-known artists are already streamed on the metaverse with people joining in droves. Additionally, NFTs have become common now, with most of the enterprises leveraging this technology to enhance customer experience.
Further, we think gaming is one of the forerunners in the metaverse space. We anticipate industries such as gaming to take the lead in introducing metaverse to the masses, while building innovative and engaging experiences for all citizens.
Read all the Latest Tech News and Breaking News here