At The World Economic Forum in Davos UAE’s DP World, a global end to end logistics provider announced that it would be utilizing the metaverse not for social networks, entertainment or enhancing customer experience but for increasing operational efficiency.
This is the first time that a metaverse solution is being utilized in the logistics industry and for operational and educational purposes.
The Metaverse, DPMETAWORLD, will aim to bring cutting edge virtual solutions to real world supply chain challenges driving both efficiency and transparency. Sultan Ahmed Bin Sulayem, Group chairman and CEO of DP World announced this during the World Economic Forum Annual meeting at Davos.
The DPMETAWORLD platform will be launched at the end of 2022. Bin Sulayem said: “At DP World, we don’t respond to change – we think ahead and anticipate it. We know that the industries of the future will not be industries of the hand, but of the mind. So we have to deploy industry-leading solutions and technology to embrace this shift. Our expansion into the metaverse will not only enhance customer experience and operational efficiency, but also allow us to be more sustainable and resilient for the future. These are vital across all our global operations.”
In DP World Tweet they state, for us the metaverse is not a buzzword but a business tool.
DP World’s operations, span six continents, 80 ports and various logistics operations, the company is uniquely positioned to help customers accelerate the flow of goods into its logistics networks.
Mike Bhaskaran, group chief operating officer of digital technology at DP World, said: “The DPMETAWORLD will allow us to provide highly flexible, cost-effective supply chain solutions. The real benefit for our customers is being able to see and understand the whole supply chain from end to end, with full visibility, and create alternate routes in case of logistics bottlenecks. We are very excited about providing these unique solutions to help resolve real-world supply constraints.”
DP World will explore metaverse applications for its services, including simulations of warehousing and terminal operations, in so-called digital twins ,3D virtual versions of physical assets, as well as container and vessel inspections.
Other customer-focused applications include enhanced retail market access, with the potential to extend DP World’s 1600+ showrooms at the Dubai Traders Market to an unlimited number of customers through an immersive shopping experience.
DP World also plans to benefit from the metaverse through fully immersive virtual training for its staff. In 2021, its Port & Terminal Training Centre in Jebel Ali trained more than 10,000 employees, totaling close to 34,880 training days.
As per DP World, replacing physical training with an immersive alternative in the metaverse will reduce the time it takes to train operations teams by 50%, slashing costs as well as increasing efficiency and safety and saving over 17,000 training days just in the UAE.
DP World since 2018 has been at the forefront when it came to digitization efforts utilizing Blockchain. In 2019, DP World signed an MOU with Dubai Chamber of Commerce and Industry on the Digital Silk Road Project which is blockchain enabled.
DP World also worked with Infor, a global leader in business cloud software specialized by industry, for its Blockchain enabled Infor GT Nexus Commerce Network as the technology backbone to power its Global Supply Chain Platform Initiative.
