AMBA & BGA RESEARCH
mentioned, 12 per cent of student respondents said that they took an institution’s use of the metaverse (or lack thereof) into account when choosing where to study. The equivalent proportion among graduates was seven per cent, meaning they were less likely to have considered a business school’s provision of metaverse opportunities at the time of their application. The proportion of those who said they did not factor the use of metaverse technology into their choice of business school was 73 per cent among students and 74 per cent among graduates, while the rest were unsure whether it had played a part or not. A versatile technology with much to offer AMBA & BGA’s survey reveals a significant and growing awareness of the metaverse, with students showing a high level of understanding in particular. However, there is a noticeable gap in knowledge among graduates. This knowledge gap highlights one potential opportunity for business schools: to include the metaverse in their provision of lifelong learning and executive education. Despite differing opinions on the potential career impact of the metaverse between students and graduates, there is certainly consensus on the importance of staying up to date with the latest technologies in a rapidly evolving business environment. Right now, the presence of metaverse technology in employers’ professional lives remains relatively low, but those who do use it are already showcasing its versatility. From enhancing product research and offering accessible virtual showrooms to bolstering companies’ recruitment and staff development capabilities, AMBA & BGA’s results highlight acceptance of the metaverse’s potential value in boosting business practices. When it comes to business education’s future, the report’s key finding relates to the significant number of students (12 per cent) who report considering whether a business school offered any opportunities to enter a virtual world in the metaverse when choosing their institution. This suggests an opportunity for schools to stand out in a competitive market by enhancing their metaverse capabilities to attract students with an eye for the technology’s potential benefits for their learning experience and subsequent careers. As the metaverse continues to evolve and gain momentum across industries, there will be advantages in being alive to its implications and proactive in delving into the technology’s evolving applications. Business schools would do well, therefore, to start recognising the metaverse’s significant potential as part of their efforts to improve global connectivity and provide access to high-quality learning experiences, as well as to prepare students effectively for a technology-driven future. To read and/or download your complimentary copy of Exploring the Metaverse: Perspectives from Students, Graduates and Employers and to access AMBA & BGA’s full suite of original research, please visit www.amba-bga.com/insights/search
METHODOLOGY Exploring the Metaverse: Perspectives from Students, Graduates and Employers is based on the results of the AMBA & BGA Student, Graduate and Employer Survey 2024, for which the organisation reached out to its 76,600 AMBA (Association of MBAs) and BGA (Business Graduates Association) student and graduate members across more than 150 countries. The survey received responses from a total of 1,120 students and graduates affiliated with AMBA & BGA institutions, with 576 identifying as graduates and 544 identifying as students. Within these groups, 354 also identified as being employers of business graduates. Respondents represent 94 different countries. Those hailing from the United Kingdom constituted the largest proportion at 22 per cent, followed by South Africa with six per cent, the United States at four per cent and Germany at three per cent. Among graduate respondents, fewer than one per cent graduated in the 1970s, one per cent graduated in the 1980s, five per cent graduated in the 1990s, 14 per cent graduated between 2000 and 2009 and 45 per cent graduated between 2010 and 2019. Those graduating between 2020 and 2023 represented 34 per cent, among which six per cent graduated in 2023, 13 per cent graduated in 2022, eight per cent graduated in 2021 and seven per cent graduated in 2020. Among student respondents, 88 per cent were master’s-level students at the time of the survey. The remaining 12 per cent were split equally between undergraduate and PhD students. In cases where figures do not sum to 100 per cent, or combine to a whole number, this discrepancy is due to rounding.
Ambition | OCTOBER 2024 | 21
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