A New Business Reality?
Imagine creating a prototype quickly and easily during a meeting so that everyone present can envision the finished product. With new technology, you can show others models that bring your ideas to life. Ads no longer require mulling over, but will be lively and vivid, reaching your customers directly where they are. These changes are taking place and will continue to develop with the use of virtual and augmented reality.
While AR & VR haven’t become mainstream yet, sales of headsets and other technologies are increasing with the popularity of Oculus Rift and Microsoft Hololens. The difference between virtual and augmented reality is that virtual reality creates a separation between physical reality and digital reality. This is accomplished through wearing headsets and effectively blocking out the rest of the world. Technologies such as Hololens, however, enhance and magnify reality, working in harmony with the environment around you to bring it to a new dimension that goes beyond gaming. In this way, business owners and advertisers can bring a product or idea to consumers and clients so they can experience it directly.
Both virtual reality and Augmented Reality create new possibilities for businesses. As the technology becomes more widespread, VR and AR may become as important as social media is now for reaching an audience. Businesses large and small can use these technologies to advertise their products, reveal their features and give a realistic image of the product to potential customers. Imagine retailers presenting a realistic, three-dimensional image of the item you are going to buy.
New Business Models
Architects and home remodelling companies can show their clients tangible images of design rather than 2D graphics. Customers can take a tour of their new home before it is built. Contractors can discuss their plans with customers by showing them the proposed fixes rather than simply describing them.
Entertainment created by VR and AR can create new revenue streams and can take films and animation to a whole new level. Medical imaging can be achieved more easily and vividly that allows patients to access virtual versions of dental implants, prosthetic limbs and other items and can envision the fit and the style of the items. The sports and music industry can create a realistic experience for viewers at home, and coaches can leverage VR and AR technology to create accurate game scenarios to enhance training.
As more people become familiar with VR and AR technologies, the possibilities provided by these advances will become more pronounced. In the business world, VR and AR strategies can drive sales by making products vivid through advertising. The technology itself can create revenue through VR films and AR entertainment. The possibilities are endless but one thing’s for sure. This new digital reality is set to integrate smoothly into physical reality will enable businesses to enhance operations and reach new customers and clients.
