UAE's DP World to explore metaverse to solve supply chain challenges

This project will allow DP World to lead the acceleration of this trend through the untapped capabilities of the metaverse, helping drive efficiency and transparency. The platform is expected to launch by the end of 2022 and DP World is talking to technology partners to help develop the platform, the company said in a press release.

The announcement was made by Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of DP World, as part of the World Economic Forum’s annual meeting in Davos.

“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,” Bin Sulayem said.

The activities to be explored through DPMETAWORLD go beyond social networks and entertainment, which are commonly associated with the metaverse, into education, government services and trade. Given the scale of DP World’s operations, spanning 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, the release added.

“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,” Mike Bhaskaran, group chief operating officer of digital technology at DP World, said.

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 1,600+ showrooms at the Dubai Traders Market to an unlimited number of customers through an immersive shopping experience.

Internally, DP World will be able to benefit from fully immersive virtual training for its staff. Replacing physical training with an immersive alternative in the metaverse will reduce the time it takes to train operations teams by 50 per cent, slashing costs as well as increasing efficiency and safety and saving over 17,000 training days just in the UAE.

Fibre2Fashion News Desk (RR)