Our ability to think out of the box defines us above the food chain. We may not be stronger than apes, but it’s not the primates that are putting us in cages. It’s the other way around.
And in the time of the virus, such out-of-the-box thinking is once again in full display. We’ve placed our children away from harm by having them study at home. Work-from-home has become a byword today more than ever. In our quest for solutions, online has provided us a timely way to connect the dots while keeping the day in order.
And top of its most potent weapon right now is immersive technologies. You may have heard of its initial offerings: VR (virtual reality), AR (augmented reality). But the extended reality (XR) is a new reality that’s changing the landscape as we speak right now. In simple terms, it’s AR, VR, holograms and the whole deal of immersive tech rolled into one.
Already, AR and VR in the industry are outstripping consumer spending by $26 billion. Pretty soon, it’s projected to triple in four years. Indeed, what you may have considered as a fad in gaming is now becoming a major tool in business. To make the most of it as an entrepreneur, you need to see how it can change your world.
What is XR?
To boot, XR is an umbrella term that refers to environments generated by using technology. It’s a broad word no doubt that includes both AR and VR. Virtual Reality, of course, is a totally unreal environment experienced by a person playing an online game for one. Augmented combines the real world with the virtual world.
So by creating an alternative reality, real-world stimuli are replaced or adjusted using tech-generated imagery. A glorious example is Pokemon Go. You can say it’s AR at its finest.
While XR is making a killing in the gaming industry, its use in the industry is changing the business landscape. And we can take a closer look at the entertainment industry for starters.
You may not have heard of a movie production these days with the virus still giving us a lot of headaches. But movies are being shot during the pandemic; the only thing is not everyone has to be on location. Indeed, XR is the next generation for films. It allows the production of a movie even when the actors are in different locations.
Such immersive experience also dubbed as unreal virtual content production allows the live broadcast of a business event. For instance, with AR and VR on set, you can let the world see your product launch in all its splendor — even when many of the aspects seen on the video are not real. Think of the many possibilities it can offer you on business.
More Uses in the Business World
Such immersive tech can enable your business goals a lot better. A good example here is through the medical technology field. With XR, you can train new med techs on how to operate a piece of new equipment even before shipping the equipment. That translates to a more proficient team.
Another way for XR to help you is with collaborative innovation. With the virus still plaguing us, meeting someone thousands of miles away can be a great risk. Having all leaders in one single room is becoming a hard reality these days.
But XR makes all that possible. Even better, it trumps current video conferencing technology right now by a mile. It’s as if you’re talking to the person/persons yourself.
Another use for XR is to enhance the sales and marketing experience. Think real estate. Far too often, selling in real estate is a very visual experience. But instead of just seeing a listing, a couple wanting to find a suitable property can just see it for themselves.
All they have to do is put on a VR headset. Then, they can take a tour right from the living room couch. The seller need not be there. He can have the VR headset delivered to the buyers for the experience.
How about interior design? It’s another visual experience that can be helped with XR. With just a gesture, a buyer can check out how a particular piece of furniture would fit in his new house. And change the choice with another gesture.
The retail industry would be revolutionized. Customers can actually choose better with XR. They can now have a feel of the product without actually purchasing it. And how about in construction? You can check technical developments before they’re implemented.
In a time when being nearby is a risk, Immersive tech is a treasure trove beyond imagination. Businesses that dive in fast could thrive the most.