The Virtual World continues to develop as we understand its capabilities; how could it evolve the Life Sciences space?
Strap that VR headset on, it’s time to jump into the Metaverse: the augmented reality of endless opportunities that is something we thought we would only see on a TV show or movie. From virtual real estate to asset trading, to even things such as…. Dating? The possibilities truly do seem endless, even if controversial.
If you follow the money trail, tons of large companies are excited about this new digital space that is only in its infancy. There must be something truly revolutionary about this concept turned reality that makes it such an attractive potential money maker for multi-billion dollar companies to already exist in it. But how could the Metaverse change how we do business?
To understand how it could impact the space we work and communicate in, it’s first important to grasp the concept of the Metaverse. Venture Capitalist Matthew Ball describes it as the following:
“The metaverse is a massively scaled and interoperable network of real-time rendered 3D virtual worlds which can be experienced synchronously and persistently by an effectively unlimited number of users with an individual sense of presence, and with continuity of data, such as identity, history, entitlements, objects, communications, and payments.”
Simply put, it is an alternate reality. Your virtual “you” can acquire anything from virtual clothing to things such as digital entertainment including gaming and interactive experiences. This opens endless opportunities in the way we approach doing business. From cold calling, to incorporating emails, then moving forward to business tools such as LinkedIn, and then becoming heavily dependent on software such as Zoom that provides face-to-face conferencing as we changed how we worked in recent times: is the Metaverse the next step?
Meeting in the Metaverse could provide a more realistic sales environment that adds context to the way we communicate in business-to-business sales. It would add new ways for us to present and work together on projects, all while being as far as on the other side of the planet in our physical body’s location. In the life science space, it could provide new opportunities to have interactive presentations that show how the drugs being developed work to cure internal ailments, or even open a space where medical companies can collaborate to find new treatments on the fly. Conferences would become more immersive to attendees and those hosting alike, unlocking a new layer to present ideas and how we intake new information.
It’s certainly a reality with a ton of room to grow as we work to understand it’s capabilities, and it seems CVS is joining in as they want to “bring the health services it offers in stores to the virtual setting” and provide “non-emergency medical treatments services, wellness programs, advisory services related to nutrition, health lifestyle and nutrition services… and counseling.” The counseling part of this is remarkably interesting, as it could open possibilities to new forms of mental health treatment. This would be beneficial to those who are immunocompromised or cannot leave their homes due to assorted reasons, giving a more interpersonal approach to treatment for those struggling with anxiety or depression.
All-in-all, this concept seems beneficial to all parties that can be impacted by this augmented reality. Companies are provided with an opportunity to diversify their business approach, as more lives will be saved or bettered by the advancements that could be provided in the life sciences industry. This space is always one that is open to innovation and collaboration, looking for the next breakthrough in the industry: will the metaverse be it?
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