Exploring Metaverse Technologies in Entrepreneurship Through Machine Learning-Based Topic Modeling

 Critical Review Writing for Machine Learning-Based Topic Modeling.   [UOG1124014]

Krishnashree Achuthan(Senior member, IEEE),Sasangan Ramanathan and Raghu Raman (Senior member, IEEE)

1.Introduction to Machine Learning 

This study investigates the integration of metaverse technologies into entrepreneurship, focusing on policy frameworks, practical applications, research directions, and educational strategies to promote innovation and enhance business operations. BERTopic modeling identified four key thematic areas in the literature.

The evolution of digital technologies is driving profound changes in the global economy, with the metaverse at the forefront of this transformation [1], [2], [134]. Metaverse technologies encompass a range of advanced digital tools and platforms. These include virtual reality (VR), augmented reality (AR), artificial intelligence (AI), blockchain and other technologies that incorporate web 3.0 and the Internet of Things(IoT) which collectively create immersive and interactive virtual environments [3],[4].

VR immerses users in a completely simulated environment using headsets and sensors allowing them to interact with a computer-generated world as if they were physically present within it. The IoT connect everyday devices like appliances, vehicles and wearables to the internet.

As the digital economy expands, understanding the intersection of metaverse technologies and entrepreneurship becomes vital for economic growth [15]. The metaverse presents both opportunities and challenges for entrepreneurs with the potential for innovative business models, enhanced customer engagement and high returns on investment [16]. It emphasizes the need for strategic approaches to capitalize on the metaverse while addressing the associated challenges of this rapidly evolving digital ecosystem. The research questions explored in this study include;

Q1. how can metaverse technologies transform entrepreneurial education, tourism and business ventures?

Q2.how do metaverse technologies, including virtual property ownership, hybrid business models create new entrepreneurial opportunities?

Interoperability remains a key factor in scaling metaverse ecosystems, requiring standardization in data formats, governance models and APIs to facilitate seamless cross platform transaction[4].Responsible digital transformation, guided by ESG frameworks and critical success factors can ensure that business scale ethically while maintaining market accessibility.

This study delves into the nexus of metaverse technologies and entrepreneurship. Using BERTopic modeling on research work from 157 peer-reviewed papers published between 2014 and 2024 was synthesized to address two key research questions focus on those questions. This study while conducted within the PRISMA frame work, acknowledges limitations due to potential bias in selecting literature from a specific database. Comprehensive studies directly comparing the efficacy and accuracy of BERTopic with those of other methods in diverse datasets are currently limited[45]. Furthermore, as with other unsupervised models, BERTopic may exhibit biases on the bias of the patterns present in the training data, which can inadvertently amplify certain themes while suppressing others.

These limitations underline evaluation and validation techniques to ensure the robustness and relevance of the generated topics.