Creating an immersive environment of Metaverse for businesses

Authors

  • Harish Kumar Indian Institute of Management Kashipur
  • Vijay Kumar Sharma IMS Unison University Dehradun

DOI:

https://doi.org/10.3127/ajis.v28.4529

Keywords:

metaverse, virtual reality, immersive experience, businesses opportunities, TISM-MICMAC

Abstract

Metaverse is an immersive environment that shares online space with users to interact with an artificial world through avatars or other digital representations. By leveraging the immersive features of Metaverse, businesses can create new opportunities for revenue generation, customer engagement, collaboration, innovative products, services, or innovation. The development and governing of user interfaces and virtual environments are challenging. Since the metaverse concept is emerging, numerous questions remain about designing, executing, and benefiting from it in the business environment. This study identifies enablers that can support creating an immersive Metaverse environment for businesses to gain new business opportunities. The study deploys multi-criteria decision-making techniques, "Total Interpretive Structural Modelling," and "Cross-Impact Matrix Multiplication Applied to Classification" to establish cross-relationships among enablers. The study also provides a hierarchical roadmap for creating an immersive metaverse environment. Recognizing which enablers hold the most influence in a hierarchy can lead to the strategic development of an immersive environment. This study will help researchers, policymakers, technology consultants, and business practitioners explore Metaverse's most impacting enablers to gain competitive advantages and future opportunities for the business.

Author Biographies

Harish Kumar, Indian Institute of Management Kashipur

Harish Kumar received his Ph.D. in Information Systems from Department of Management Studies, Indian Institute of Technology Delhi, India. He has completed his M.Tech. from International Institute of Information Technology Hyderabad (IIIT-H), India. His area of research includes artificial intelligence, metaverse, computer vision, digital transformation, technology-oriented businesses, and services. Currently, he is working as an assistant professor in Information Technology and Systems at Indian Institute of Management (IIM) Kashipur, India. Previously, he has published research articles in reputed peer-reviewed journals like ‘IEEE Transactions on Engineering Management’, ‘Technological forecasting & Social Change’, ‘Land Use Policy’, ‘Marketing Intelligence & Planning’, ‘Journal of Science, Technology & Policy management’, ‘Measuring Business Excellence’, and so on. 

Vijay Kumar Sharma, IMS Unison University Dehradun

Vijay Kumar Sharma is pursuing his Ph.D. from Indian Institute of Foreign Trade, New Delhi. He is Fellow of the Institute of Cost Accountants of India and a qualified Cost & Management Accountants (ICWA) from ICAI. He has years of experience in various industries at middle managerial level position, especially in business planning, consulting, taxation, and finance. At present he is working as an assistant professor of finance at department of management studies, IMS Unison University, Dehradun, India. Previously, he has published various research articles in reputed journals. His research area includes business strategy, taxation, finance, and accounting. 

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Published

2024-11-22

How to Cite

Kumar, H., & Sharma, V. K. (2024). Creating an immersive environment of Metaverse for businesses . Australasian Journal of Information Systems, 28. https://doi.org/10.3127/ajis.v28.4529

Issue

Vol. 28 (2024)

Section

Research Articles

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Copyright (c) 2024 Harish Kumar, Vijay Kumar Sharma

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