Why we are just at the beginning of Metaverse – Intelligent CIO Middle East

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    The Metaverse promises to be a consumer and social model disruptor, but at this stage presents business, operational, technology and security challenges. Executives from Check Point, Fortinet, Omnix International, and Shaffra share their insights.

    The Metaverse brings an immersive new augmented reality to the online world, and virtual cities are among the first to adopt this new version of the Internet. Retailers are starting to offer digital goods that can be purchased in these virtual worlds.

    It is a virtual reality in which users interact with computer-generated environments and other users in real time. VR, AR, and XR technologies offer immersive experiences that blend the virtual and physical worlds. Hardware innovations such as headsets and haptic feedback devices are enhancing presence and interaction within the metaverse.

    “The final gap will be filled with immersive holographic technology,” said Simran Bagha, Vice President of Omnix Engineering and Fundamental Technologies at Omnix International.

    The Metaverse offers new ways for businesses to engage with their customers, including immersive advertising and experiential marketing. Businesses can create interactive virtual stores and showrooms to offer unique shopping experiences.

    “The virtual economy within the metaverse, powered by blockchain and NFTs, presents an opportunity to monetize digital assets and services. Additionally, data collected from user interactions in the metaverse provides deep insight into consumer behavior,” said Oded, Head of Product Vulnerability Research at Check Point Software Technologies. Vanunu said.

    According to a McKinsey survey, 87% of companies worldwide are aware that they already have a skills gap or will have one in the next few years. This is especially true as the metaverse field is still an emerging field and may have a limited talent pool. Overcoming these challenges will require a combination of business acumen, investment in upskilling, and knowledge of the Metaverse ecosystem.

    The integration of IoT, AI, blockchain technology and non-fungible tokens is gaining attention. These technologies enable ownership and monetization of virtual assets, holographic avatars, digital collectibles, and global economies. It also provides a secure and transparent framework for transactions and provenance.

    Simran Bagga, Vice President, Omnix International, Omnix Engineering and Foundation Technologies

    Operational and technical challenges

    “Implementing the Metaverse involves integrating different technologies such as VR, AR, blockchain, and AI. You need to have the technical expertise to do it, you need specialized skills and partnerships with technology providers.” Omnix’s Simran said.

    User adoption can be slow, and creating and maintaining high-quality, engaging content requires dedicated resources and expertise. Companies should invest in content creation tools, 3D modeling, animation, and virtual environment design.

    Oded Vanunu, Head of Product Vulnerability Research at Check Point Software Technologies
    Oded Vanunu, Head of Product Vulnerability Research at Check Point Software Technologies

    “Monetization can be a hurdle as businesses need to identify profitable revenue streams and attract a receptive customer base. Strategic planning, cybersecurity precautions, resource allocation and a customer-centric approach are required to overcome these obstacles and maximize return on investment,” said Vanunu of Check Point. says.

    Regular updates and maintenance are essential to keep your virtual experience fresh and relevant. Enterprises must address compatibility issues to ensure cross-platform interoperability and a seamless experience.

    “The metaverse requires a unique combination of expertise in technology, content creation, user experience design, and other related disciplines. needs to be educated,” said Shafra Co-Founder and Chief Metaverse Officer Alfred Manase.

    Many people may need to become more familiar with this concept or have misconceptions about its functionality, so to overcome skepticism and resistance, it is important to raise awareness of the metaverse and provide a clear explanation of its benefits. It is essential to provide

    “Developing a metaverse strategy also requires a skilled workforce with expertise in various technologies,” adds Manase.

    Businesses can overcome challenges by planning a metaverse strategy, partnering with experienced service providers, investing in user education and experience, and continuously evaluating and adapting.

    Skill set requirements vary depending on the nature of the metaverse implementation, industry or use case. Companies should assess their needs, consider hiring or partnering with experts, and develop multidisciplinary teams with diverse skills to successfully implement a metaverse.

    Understanding business objectives, market dynamics and industry trends is necessary to align Metaverse efforts with overall business strategy. Also, skills in strategic planning, market analysis, and identifying growth opportunities are invaluable in leveraging the metaverse to drive business success. The ability to assess ROI, develop a business case, and define KPIs is critical to measuring the impact of a metaverse implementation.

    Derek Manky, Chief Security Strategist and Vice President of Global Threat Intelligence, Fortinet, FortiGuard Labs
    Derek Manky, Chief Security Strategist and Vice President of Global Threat Intelligence, Fortinet, FortiGuard Labs

    Security and compliance

    The Metaverse opens many new doors, but it could also lead to an unprecedented rise in cybercrime in uncharted territory. “For example, a person’s avatar essentially becomes a gateway to that person’s personally identifiable information and data of value to cybercriminals,” said Fortinet’s FortiGuard Labs chief of security. said Derek Mankey, his strategist and vice president of global threat intelligence.

    The new digital ecosystem presents opportunities for cyber threat risk, but there are several reasons users should be cautious about this new world. First, because it is a new platform, it can attract a lot of cybercriminals looking to exploit security gaps. And since this is the crossroads of people and technology, we are likely to see a lot of social engineering attacks trying to take advantage of novice users.

    It is also a highly interactive environment, with individuals interacting not only with each other, but also with complex objects, each with its own procedures and code. Complexity can lead to security risks and flaws. This, of course, creates many opportunities for exploitation.

    “Where does security go and what does it look like in such an environment? Is it?” asks Fortinet’s Mankey.

    “Whether you can work from anywhere, learn from anywhere, or have an immersive experience from anywhere like the metaverse, advanced endpoint detection and response makes real-time visibility, protection and mitigation essential. It enables real-time analysis, protection and remediation,” recommends Manky.

    “Data in the metaverse must be protected and comply with data protection regulations. In addition, it is also important to protect virtual assets, prevent unauthorized access, and protect against virtual fraud and fraud,” said Simran of Omnix. .

    Robust security measures are required to protect virtual assets and user information from security risks such as identity theft and data breaches. Facilitating a smooth transition to the metaverse can require significant investments in infrastructure and training.

    Alfred Manasse, Co-Founder and Chief Metaverse Officer, Shaffra
    Alfred Manasse, Co-Founder and Chief Metaverse Officer, Shaffra
    Why Now Is Only the Beginning of the Metaverse

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