How metaverse can impact the future of the logistics industry | The Financial Express

How metaverse can impact the future of the logistics industry

It is expected that the metaverse will lead to a customer interaction tied to the logistics industry

How metaverse can impact the future of the logistics industry

By Gurdeep Singh

Since the COVID-19 outbreak, technological adoption has taken center stage. This is why organizations across industries have been keen to adopt cutting-edge technology in order to survive and thrive with a competitive advantage. The logistics industry was no different and quickly jumped on the digitization bandwagon. While numerous new-age technologies such as AI, ML, and Big Data are gaining importance, the metaverse platform powered by AR and VR has seen substantial expansion. Despite the fact that the metaverse infrastructure is still in its infancy, researchers, policymakers, and digital designers recognize the chance to lead the path rather than get swept away. As a result, the concept is not only permeating corporate operations but also having a substantial impact on the future of the logistics landscape. However, we must first define the metaverse before we can appreciate the implications.

Metaverse: An emerging concept

Metaverse is a burgeoning concept in India with enormous growth potential. The term “metaverse” alludes to what could be the next big internet revolution: the consolidation of virtual worlds that provide users with a multisensory experience via the use and application of new internet-connected gadgets. To provide customers with an immersive experience, this new online trend integrates technology such as augmented and virtual reality (VR), artificial intelligence (AI), and the Internet of Things (IoT). As a result, the concepts are valid and have the potential to make logistics more reliable, resilient, and scalable. With the metaverse being built, how will this new virtual world affect the future of logistics?

Impact of Metaverse on Logistic Industry

As the country prepares for the fifth phase of industrialization, new generation technology will be critical in assisting businesses to realize their goal and vision. With the introduction of the metaverse, the concept is affecting more than just the gaming and entertainment industries. It is also positioned to alter social, economic, and political dynamics.

The Metaverse will expose a new type of customer interaction strongly tied to the logistics industry. The approach will not only establish a more detailed process simulation but may also encourage the creation of immersive virtual worlds to aid training in warehouses and manufacturing facilities. Programs exist that construct digital twins and design work routines, detect inefficiencies, and multiply productivity. Warehouse simulation and digital twins can also improve efficiency in logistics and supply chain operations.

Of course, these aren’t the only areas where the metaverse could impact businesses. In terms of sales, this real-time simulation technology will present showrooms and product demos where customers may interact with the products without having to move and with the same reliability as if they were sharing that physical place.

New opportunity for Industry

Since digitalization is reaching its peak, tech-savvy resources will be in high demand in the following years. To provide an immersive, multimodal user experience, the metaverse takes advantage of modern technologies such as 5G, Industrial IoT, and VR. This technology opens the door to a plethora of new opportunities for enterprises across all industries and domains of operation, ranging from new customer connections, exhibitions, product samples, and virtual trade shows to new business models.

Logistics could be one of the industries that benefit the most from the metaverse’s arrival. This new technology will aid in the optimization of processes, the elimination of cost overruns, and the connectivity of various supply chain elements. As a result, it is reasonable to claim that the metaverse is evolving at an unprecedented rate and will soon emerge as an indispensable aspect by comprehensively impacting the logistics industry in the future!

The author is chairman, Jujhar Logistics

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