[2021 Financial IT Forum] Professor Kim Sang-yoon: "A Metaverse Revolution Has Arrived in Finance"

"Financial Companies Must Evolve into Digitally Friendly Organizational Cultures"

Professor Kim Sang-yoon of the Department of Computer Engineering at Chung-Ang University is giving a presentation on the topic "The Fusion of Reality and Virtuality, the Metaverse Revolution" at the 12th Asia Economic Finance IT Forum held on the 24th at Lotte Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Oh Hyung-gil] Professor Kim Sang-yoon of the Department of Computer Engineering at Chung-Ang University emphasized on the 24th at the 12th Asia Economy Financial IT Forum held at Lotte Hotel Seoul, themed "Future Digital Finance Industry and Metaverse (Virtual Extended World)," that "the metaverse will bring changes across all areas of financial companies, from branches to work environments, customer services, and personnel."

In his lecture titled "The Combination of Reality and Virtuality, Metaverse," Professor Kim stated, "The digital revolution triggered by the metaverse has arrived," defining the metaverse as "the ultimate connection between virtual space (data) and real-world experience."

He continued, "Financial companies are actively utilizing the metaverse," explaining, "DBS, the state-owned bank of Singapore, has opened unmanned branches and offers mobile wallets, account opening, and virtual assistant services applying the latest digital technologies such as biometric authentication and AI chatbots."

He predicted that the metaverse will expand the remote work environment, which has spread since COVID-19, into virtual workspaces. He said, "Remote work such as meetings and training using metaverse platforms may increase further," adding, "Remote work is more efficient than working in an office and has a positive impact on organizational culture."

He also urged financial companies to enhance their internal organizational data utilization capabilities. Professor Kim said, "To become a data expert, three factors are necessary: computer skills, statistics, and domain knowledge," and requested, "To transform into a financial company suitable for the metaverse, the organizational culture must evolve from a top-down style to a data-driven, digitally friendly culture."

Professor Kim Sang-yoon of the Department of Computer Engineering at Chung-Ang University is giving a presentation on the topic "The Fusion of Reality and Virtuality, the Metaverse Revolution" at the 12th Asia Economic Finance IT Forum held on the 24th at Lotte Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

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