To help business leaders develop models and strategies for the emerging technologies market, the Aresty Institute of Executive Education at the Wharton School of the University of Pennsylvania has launched the online program, “Business in the Metaverse Economy.” Developed in collaboration with Prysm Group, an economic consulting firm specializing in emerging technologies, the six-week Wharton certificate program is designed for business and technology professionals seeking to learn about the associated technologies, the economic and technological elements that will drive its development, and how firms and creators can gain value through the metaverse in the years to come. Through immersion activities, program participants will also benefit from firsthand use of metaverse technology for an interactive learning experience. With the launch of this course, Wharton becomes the first Ivy League business school to launch a program on the topic of metaverse technology, the university said.
Powered by a range of emerging technologies including augmented reality (AR) and virtual reality (VR), research analysts estimate the metaverse economy to be a momentous opportunity on the horizon, poised to become a $13 trillion market by 2030. In a survey conducted by McKinsey & Company, senior executives cite their top three concerns related to incorporating the metaverse into their company’s operations as uncertain return on investment, inability to design a suitable business model and the lack of managerial capability to implement a related strategy into their business.
With program highlights including six industry case studies and more than 50 program lecture videos featuring six Wharton faculty and a dozen industry experts, this course aims to allow students to align theory with practice and give them the tools necessary to engage deeply in a business context with the emerging technologies empowering the metaverse.
“We designed this program for business professionals and executives from a range of backgrounds, including finance, management, and tech,” said the program’s academic director, Kevin Werbach of the Wharton School. When asked about the goals of the program, Werbach said, “The metaverse is a significant and broad phenomenon that is still poorly understood. We hope to equip business leaders, consultants, and entrepreneurs with an understanding of the impending opportunities the metaverse brings, as well as the practical knowledge to build solutions of value.”
Case study topics range from how large, legacy enterprises can use metaverse technologies in both B2C and B2B settings to which tactics companies can employ to ensure customers engage with digital worlds safely. The goal of this asynchronous, online program is to educate business leaders at their own pace on how this general-purpose technology can be applied to their businesses and unlock value for the global economy.
Guest speakers include representatives from Adobe, Animoca Brands, Hellenic Parliament, Magic Leap, R/GA, RLY Network, Second Life, Snap, the New York Times, the Wall Street Journal and Unity. The program is now open for limited enrollment for its first cohort, which begins on September 12.
