A Study to Analyse the Impact of Using the Metaverse in the Banking Industry to Augment Performance in a Competitive Environment

Abstract

The metaverse is set to disrupt the banking and financial industry in an effective manner. The application of virtual reality and augmented reality offers innovative experience to the customers, which will create opportunities in the banking domain. The collaboration of VR and MR creates critical digital contact with real-world experience and support in augmenting the services in an effective manner. This will enable in creating rich experience and seen as the motive for many opportunities in the industry. The integration between AI and 5G will support the metaverse in enhancing the growth potential for better advantage and offering enhanced solutions. The study is focused on using the quantitative research tools for performing the analysis. The researchers focus on collecting information through survey method. Various closed ended questions are framed for understanding the responses of the sample population who are currently working in the banking industry.

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