KPMG launches metaverses product for Saudi Arabia

The Saudi Arabian government continues with its intentions to invest and advance in technology issues, which is why it has commissioned KPMG to develop a Center of Excellence in the metaverse.

KPMGthe leading audit, tax and advisory services company, has announced the launch of its Center of Excellence (CoE) for metaverses.

On this occasion, he will provide services for Saudi Arabia, which plans to develop new opportunities in the implementation of new technologies in both the public and private sectors.

To ensure a complete and effective service, it is working in partnership with several companies. With Microsoftwith Microsoft, it leverages its expertise in cloud infrastructure and the benefits of its platform. With Ericssonfor its 5G network. And with Metakey for the development of 3D video games.

This Center of Excellence has as its main objective the development and acceleration of the Metaverse and Digital Twin for Saudi Arabia and its region. Maz Hussain, the head of KPMG’s digital beacon located in Saudi Arabia, expressed that they have made a huge financial commitment in order to explore the public utilities they can provide from the metaverse in Saudi Arabia.

He also went on to point out that a digital principle will be applied to the services provided by the Center of Excellence, which will entail the provision of incubator services for various technological capabilities. This type of services will be necessary in order to provide a service proposal that differentiates the company from its competitors.

He added that the Metaverse will help companies based in Saudi Arabia to become more competitive, as well as to be able to offer more proposals worldwide.

Regarding the future of Web3 technology and metaverses, Hussain concluded that they have a very optimistic outlook on this area. He remarked that together with the Center of Excellence, global ecosystem advisors and a large team of professionals, they will be focused on the application of new technologies in important use cases in Saudi Arabia.

Digital Twin is the digital counterpart of physical products or real-world processes, such as the Metaverse, and can be attributed practical purposes such as simulation, education, among others.

Zainab Alamin, vice president of digital transformation and sustainability at Microsoft based in Saudi Arabia, said that they are very proud to be part of this initiative, and to take the lead in promoting technological innovation, in addition to being able to bring value to both Arabia and other countries in the region.

In this regard, he further added that all this will be made possible through the application of new technologies such as the Metaverse, supporting the vision to 2030 to turn Saudi Arabia into a digital hub, and to Riyadh the capital of Artificial Intelligence and technological innovation.

This new development has been announced at the technology event called Leap Conference 2023The event was held in Saudi Arabia. This year’s event was attended by more than 100,000 technology experts from around the world.

In turn, as part of the Center of Excellence (CoE), KPMG has allocated a dedicated investment fund for the implementation of metaverses in the Arab country in order to work jointly with the public and private sector to accelerate the implementation of the technology.

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Written by Luciano Garriga (TW:@luchogarriga) for NFT Express