How Businesses Can Embrace a Phygital Future with Digital Avatars

In brief

• Growing demand for personalized, interactive digital experiences and better customer support is driving the adoption of digital avatars in many industries.
• While there are challenges, successful implementation can lead to many benefits for the business.
• These include lower operational costs, more customer engagement, streamlined workflows and better overall efficiency, among others.

​In the rapidly evolving digital landscape, businesses are constantly seeking innovative ways to engage with their customers and streamline operations. One such innovation is the metaverse — the use of digital avatars. By 2030, the global metaverse market is expected to be worth US$936.6 billion, a jump from US$65.5 billion in 2022.1 Emerging as a prominent trend, digital avatars are making their mark across a broad range of B2B and B2C industries from education, training and entertainment to gaming, retail and even regulated businesses, such as those in health care and finance. The driving force behind this trend is the growing demand for personalized, interactive digital experiences combined with efficient and effective customer support and engagement.


Source: EY