Overcoming Compliance Risks as the Metaverse Promises New Revenue Streams
The pressure is on ethics and compliance officers to identify and manage the risks associated with any emerging technology. Their new task is to ensure their companies bring to the metaverse the same level of commitment and ethical behavior they embrace in their "real world" operations. In this article, we address some of the risks compliance officers and corporate leaders must take into account as they venture into a virtual reality environment.
March 17, 2023 at 10:42 AM
6 minute read
Risk and Compliance
Credit: Yingyaipumi/Adobe Stock
Metaverse technologies are already revolutionizing how companies interact with customers, prospective clients, vendors, and teammates. In fact, corporations like Microsoft, Google, and Amazon have already built a virtual world to explore future sources of revenue. Nearly 25% of people will spend at least one hour a day in a metaverse for work, shopping, education, social media and/or entertainment, according to Gartner. The pressure is on ethics and compliance officers to identify and manage the risks associated with any emerging technology. Their new task is to ensure their companies bring to the metaverse the same level of commitment and ethical behavior they embrace in their "real world" operations.
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