KPMG Invests $30 Million in Employee Metaverse Training
KPMG is spending $30 million to train its employees in the metaverse and other web 3 projects.
The consulting firm’s long-term objective is to explore other potential metaverse use-cases including healthcare, media, retail, consumer, and financial services.
KPMG will create its own metaverse collaboration hub to enable its US and Canadian clients, employees, and networks to tap into the growth opportunities in the digital era.
The global consulting firm’s US and Canadian firms have created specialized teams to outline the strategic and technical plans for its metaverse. The teams will also help firms in designing and integrating NFTs, engaging communities as well as web 3 integrations on its new spatial communications platform.
The US team includes the following individuals: –
- Cliff Justice: Enterprise Innovation Lead
- Kevin Bolen: Head of Advisory Strategy and Investments
- Anu Puvvada: Managing Director of Innovation
The Canadian team includes the following: –
- Armughan Ahmad: President & Managing Partner of Digital
- Kareem Sadek: Metaverse Services Co-Leader and Cryptoassets & Blockchain Services C-Leader
- Katie Bolla: Metaverse Services Co-Leader and Partner of Customer Experience and Innovation
KPMG’s new metaverse launch will provide various web 3 and cryptocurrency services by incorporating Blockchain and Ethereum to the company’s corporate treasury in Canada. There are also plans to engage the global ecosystem via a World of Women NFT.
The US branch of the global consulting firm will also be integrating both NFTs and cryptocurrency training as part of the onboarding processes for its new hires. The two divisions will also integrate KPMG’s Chain Fusion auditing services tool for crypto-native and fintech firms.
The KPMG metaverse collaboration hub will connect the company’s clients, employees and others connect with web 3 technologies. The company will be investing $30 million for the web 3 experiences and the metaverse hub will be its “signature piece.”
The metaverse hub will focus on training, collaboration, education, workshops, and event use-cases. According to the company’s US leader for enterprise and innovation Cliff Justice, KPMG is already leveraging the metaverse for these use-cases but the company is planning to recruit people to build and expand it further over time.
KPMG’s long-term objective is to explore the potential of other metaverse use-cases.
KPMG has also created a strategic innovation roadmap for exploring web 3 and crypto and developing tools and technological solutions for offering vital market insights, building immersive platforms, and recruiting fresh workforces that will have undergone training on how to deliver the future metaverse.
KPMG’s Justice believes web 3 and the metaverse will represent the next generation of the internet and that it is going to reshape how consumers and businesses transact, engage, socialize and work.
According to justice, the business leaders are aiming to go beyond the “exploratory phases” to implement new solutions for training employees, engaging customers, and extending their brands into the new metaverse market.
A recent McKinsey research projected that the metaverse will be a $5 trillion market by 2030.
The Metaverse has been growing by leaps and bounds in recent years. The growth was catalyzed by the pandemic which forced people to stay indoors and sparked interest in the ownership of digital assets and digital real estate.
Read more details on KPMG’s metaverse investments in this Fortune report (behind paywall).