Digital transformation specialist Tech Mahindra has launched a business oriented Metaverse practice, TechMVerse, which could send demand for standalone 5G soaring. It has also promised to train 1,000 engineers to support the concept.
The bandwidth-hungry industrial strength metaverse system works by immersing distant teams of engineers and designers into a centralised 3D synthesis of their problem and helps them investigate their challenge more thoroughly.
TechMVerse uses artificial intelligence (AI), blockchain, 5G, augmented reality (AR), virtual reality (VR) and quantum computing to synthesis real and hypothetical business to business use cases in any industry. By visualising problems, examining them from every angle and hypothesising responses, it aims to provide clarity, revelations and better decision making from its business customers.
Initially Tech Mahindra will present its prototype use cases such as DealerVerse, a metaverse-based car dealership. Other exemplary use cases that are ready to use are Middlemist, an NFT market, and Meta Bank, a virtual bank, and gaming centre.
The TechMVerse experience is a way of delivering more intense scrutiny of business and mainly comprises services around design, content, as well as low code plug and play Non-Fungible Tokens (NFT) and Blockchain platforms. Tech Mahindra says the metaverse aligns with its digital and environmental, social and governance (ESG) goals. It is also offering exclusive Digital Collectibles, starting with an ‘iconic brand’.
At the immersive online press conference, Mobile Europe asked: how is this going to save telcos time or money?
“The TechMVerse will save industrial designers a huge amount of time by visualising every aspect of what they are doing,” said Manish Vyas, Tech Mahindra’s CEO of network services and president of communications, media and entertainment. All engineers and designers, including those who work for mobile operators, face incredibly complex business challenges and anything that helps them see new possibilities or to fix snags will pay instant time and money dividends, according to Vyas.
Telco revenues from the metaverse are difficult to pin down, he said. The promised productivity gains from interacting in a 3D virtual space will create a ‘revenue opportunity’ of $800 billion in 2024, according to Tech Mahindra’s estimation.
“The fundamental layers of metaverse are very well integrated within Tech Mahindra and its competencies,” said CP Gurnani, MD & CEO, Tech Mahindra. From infrastructure to experience, from spatial computing to now commerce, TechMahindra’s platform, the TechMverse would enable a seamless integration between our known expertise in 5G with our skills in AI, AR/VR and blockchain. We would be training workforce of 1000 engineers to ensure they are ready to solve complex business challenges and imagine new worlds for our customers and society.”