We are witnessing the beginning of another information technology transformation. The infrastructure of the metaverse, though nascent, is in place: cryptocurrency, blockchain, 5G, immersive technologies like augmented reality and virtual reality and other elements of this next wave are here. The metaverse has the potential to further transform just about every aspect of human life, just as radio did a century ago, television 50 years ago and the rise of the internet 25 years ago, perhaps even more so. Why?

Because it brings with it the promise previous media technologies did not, namely, broader decentralization and the empowerment of the individual.

But it’s not without its risks, according to Ben Hoster, Director of Transformative Technologies at Marsh McLennan. “I don’t like to think of myself as a technology evangelist,” he said. “I’m more of a technology realist.” It’s a world he describes as a new era in how humans will socialize, learn, entertain and conduct business.

In Episode 5 of our This Moment Matters podcast series, hosted by Marsh McLennan Chief Public Affairs Officer Erick Gustafson, Hoster provides a candid assessment from a business perspective about the realities and risks of the metaverse.