Winning In Metaverse Will Be A Marathon, Not A Sprint: Sanjiv Mehta, HUL

Technologies such as cloud computing, augmented and virtual reality, Web 3.0 and now, very soon, even 5G; have given or are giving thrust to tech town's new and favourite buzzword, 'The Metaverse.' It is an interconnected and limitless virtual world, providing an extension to our physical identities. While it may not be here as of now, it is undoubtedly the next big thing.

As people spend more time online, they develop a distinctly real and virtual life. This makes it imperative to ensure that the metaverse on which our virtual life will revolve is safe for usage; hence, we need to build it for good.

Sanjiv Mehta, CEO and MD, Hindustan Unilever, while speaking at the 17th edition of the BW Marketing Whitebook Summit said that what we do in the metaverse will become part of our legacy. "We must learn from real-world events and ensure that we don't recreate society's problems in the virtual world," he adds.

He lays out a four-fold governance stack that would help build the metaverse for good. The first revolves around ensuring data privacy, focusing on raising data governance and privacy literacy. Other pillars include emphasising equality, diversity and inclusion, keeping the Metaverse people-centric and ensuring its low carbon footprint.

"We need to design metaverse so that it can stand up to ethics, inclusion and safety, which is coded right from the beginning," says Mehta.

Mehta also shared some traits that would define a good leader in the realm of the metaverse and stressed skill development to lead effectively. "It is the beginning. Winning in the metaverse will be a marathon, not a sprint," comments Mehta.