One of the leading management institutes in India, MICA, has announced the launch of MICAverse, a lab in the virtual world to study consumer behavior extensively. The most recent technology, such as virtual reality glasses and several other production tools, are included in its setup.
The Metaverse’s applications are constantly expanding. It is anticipated that taking a step in the direction of consumer patterns and behavior analysis will draw many people to the ecosystem. Startups in the field of virtual and augmented reality will notice a door opening.
3D mapping and creating travel applications to promote Indian tourism will be the first MICAverse activities. Existing businesses can always access the technology, but this time, depending on how skillfully they have designed their team and technological infrastructure, startups may be the ones to take the lead.
The dean of MICA, Githa Heggde, has further stated that MICAverse will not only conduct scholarly research but also publish research papers in Metaverse and support startups in the metaverse sector. Better consumer behavior understanding will result from the partnership between startups and MICAverse.
For a better understanding of how the virtual world affects consumer behavior, it mainly entails creating a decision-making chart. Githa has stated her confidence in the caliber of the academic research to be conducted in the area of the Metaverse, calling it a disruptive ecosystem.
While other universities are focusing on the technical side of the Metaverse, Suresh Malodia, an assistant professor at MICA and the project’s leader, has emphasized that MICA is taking the lead in knowing the experience of consumers in the Indian context.
All industries are assessing the Metaverse intending to attract more customers. The technology’s implementation is complex because it demands significant government funding and infrastructure support. For example, India’s 5G network is predicted to change the Metaverse realm there, but it still requires computing devices and the creation of virtualization tools, among other things.
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