Technological changes have always brought about changes in the business world. However, never before in history has technological change been so rapid as in the past two decades. Think back to a few years in a world with no internet, no PCs, and no cellphones and you’ll get a feel for how fast things have changed! The pace of technological advancements will only accelerate, and one of the major developments for businesses over the next few years is expected to be virtual reality (VR) and augmented reality (AR). While you may think virtual reality and augmented reality are things to play video games on, in the years to come they will become a must have in businesses around the world.
What is VR and AR?
VR technology creates a fully immersive, computer-generated environment. Users interact with this environment through devices such as VR glasses. Meanwhile, AR technology embraces the real world, adding a layer of the digital world, for example 3D effects. With the revenue of the global virtual reality and augmented reality market expected to increase by $ 125 billion from 2020 to 2024, these emerging technologies will revolutionize business as we know it. Here are just 4 of the many industries that will be affected.
VR and AR technologies will play a key role in the future of medicine and healthcare. The technology will be used for training in medical procedures. Students will be able to watch VR / AR surgeries and dissect VR cadavers will be a central way to develop and hone surgical skills. Neurological disorders and diseases will be treated using VR / AR, for example, motor learning to aid recovery from brain injury. The technology will also be used as therapy for people with autism and Asperger’s disease, as well as to slow memory loss with conditions such as Alzheimer’s disease.
AR and VR are going to change manufacturing enormously. Product design will be revolutionized. Companies will no longer need to undertake the costly and time consuming creation of physical prototypes for testing. Virtual reality and augmented reality will speed up the process exponentially and allow employees around the world to capture in real time. Manufacturing operations will be streamlined with reduced human error and lower end costs. Engineers will be able to access instruction manuals using RA and quickly identify faults and perform repairs.
Before COVID-19, physical retailers were already under extreme pressure from the internet and we are looking to incorporate new technologies into their in-store experiences. After the huge increase in the growth of e-commerce due to the pandemic, VR / AR technologies will be increasingly used to make retail more interesting and attractive to the consumer. Traditional retail stores will be supplanted by online showrooms. If you want to buy a sofa, you will be able to see what it will look like in your living room. If you like it, you can click on it and buy it. Virtual dressing rooms will let you try on clothes before you buy them, putting an end to the old hassle of making sure you get the right fit.
The world of real estate and construction will greatly benefit from advances in virtual reality and augmented reality. Like manufacturing, construction processes will be revolutionized. Potential structural issues or design issues will be identified and digitally eliminated. Meanwhile, builders, electricians, and plumbers will use RA to troubleshoot obstacles during construction, saving costs and time. Realtors will use AR as a sales tool – potential buyers will be able to inspect every inch of a home, no matter where they are. This will not only generate sales, but also prevent unnecessary inquiries. The vast majority of physical visits from potential buyers do not end in a sale but consume a lot of valuable time.
These are just 4 industries that will face huge disruption from new technology. Perhaps the most important impact in the business world will be training. Regardless of the industry, all businesses have training needs. With virtual reality and augmented reality, workers can be placed in immersive situations where they can learn without risk to themselves or to others, whether financial or physical! From presentation skills learned in front of a virtual audience to training on expensive machines, virtual reality and augmented reality will result in huge cost and time savings.
The days when VR and AR technologies were the prerogative of video gamers is coming to an end. Businesses around the world, regardless of their size, will transform as organizations strive to improve their processes and sales while reducing costs. The companies that adopt VR and AR the fastest will reap the biggest benefits, with laggards or non-adopters left behind. The main problem that will hold back most businesses will be the lack of expertise in the technology. However, working with a development company ar vr, you can get the customized solutions you need quickly and affordably.
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