Page 62 - SAMENA Trends - May-June 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

integration of renewable energy to the grid, decarbonization of future, with the customer at its core. The purpose-built private
the electrical network and electrification of heat and transport telecommunications network now being developed will be a key
amongst other benefits. A dedicated Smart Grid telecoms network enabler in delivering integration of renewable energy to the grid,
forms part of ESB Networks' Innovation Strategy that aims to bring decarbonization of the electricity network and the electrification of
many benefits to Ireland from an environmental, economic and heat and transport amongst other benefits. As such, this private,
customer perspective. Nicholas Tarrant, ESB Networks Managing reliable, and secure mobile network will be an indispensable
Director, welcomed the development: “An ever smarter and agile precursor to delivering a Net Zero-ready electricity network.”
electricity network is key to the delivery of a more sustainable

Nokia and EY Study: Enterprise and Industrial Metaverses Are Exceeding

Expectations

Companies that have already deployed industrial metaverse
use cases are seeing more reported benefits than those still in
the planning phase expect, most notably in capital expenditure
reduction (15%), sustainability (10%) and safety improvement
(9%), according to a study published by Nokia and EY. Examining
the current state of the enterprise and industrial metaverses,
the metaverse at work1 study which surveyed 860 business
leaders across six countries shows that the industrial metaverse,
particularly, is expected to deliver on and beyond expectations.
The findings show that companies believe in the power of the
metaverse and that metaverse technologies are here to stay. Only
2% of respondents see the metaverse as a buzzword or a fad,
while 58% of companies with future metaverse plans have already
deployed or piloted at least one metaverse-related use case.
Nearly all (94%) of those who have yet to begin their metaverse
journey plan to do so in the next two years. Companies also say
the industrial metaverse is creating substantial business value. On
average, 80% of those who have already implemented metaverse
use cases believe they will have a significant or transformational
impact on the way they do business. Nearly all (96%) respondents
see how, by mixing physical and virtual use cases, the metaverse
brings additional innovative capabilities that will allow them to
accelerate the deployment, adoption and monetization of Industry
4.0 for their business. In terms of geography, the US (65%), UK
(64%) and Brazil (63%) are currently leading the way when it comes
to having deployed or piloted at least one industrial or enterprise Director, Business Consulting and Business Transformation, Ernst
metaverse use case. The average in Germany was 53% while Asia & Young LLP, said: “The industrial and enterprise metaverses are
Pacific is less advanced (Japan, 49%; South Korea, 49%). When here, this study shows the clear appetite for these technologies
asked which use cases, they most expect to deliver transformative such as extended reality and digital twins to achieve business
value, enterprises saw the highest potential in the use of extended goals. We are already seeing many organizations going above and
reality for training to onboard and upskill the workforce, while three beyond the planning stages and recognizing tangible benefits from
out of the four industries surveyed chose the use of virtual R&D to their initial implementations.” Thierry E. Klein, President of Bell Labs
enhance product design and processes. When deploying metaverse Solutions Research, Nokia, said: “It is great to see that companies
use cases, companies clearly appreciate the need for sufficient clearly believe in the power of the Metaverse for business value
infrastructure and robust analytical capabilities. Respondents creation in both enterprise and industrial use cases. This strongly
placed highest importance on the key technical enablers that are aligns with our vision, informed by more than 8 years of research
truly foundational to meeting the demands of such use cases – at Nokia Bell Labs, that the Industrial Metaverse is an extension of
cloud computing (72%), AI/ML (70%) and network connectivity (68- Industry 4.0. Consequently, those who have already implemented
70%). Given the need for further technical expertise in house, at mission-critical communications networks for Industry 4.0 are
this stage enterprises are relying on a range of partners to close now well placed to experience the benefits of the Metaverse that
capability gaps and deploy use cases. Vincent Douin, Executive clearly some companies are already seeing.”

62 MAY-JUNE 2023