AR/VR Technologies in Business

Recent technological innovations have created new opportunities for the increased adoption of virtual reality (VR) and augmented reality (AR) applications in medicine. While medical applications of VR have historically seen greater adoption from patient-as-user applications, the new era of VR/AR technology has created the conditions for wider adoption of clinician-as-user applications. Historically, adoption to clinical use has been limited in part by the ability of the technology to achieve a sufficient quality of experience.

Sales and marketing using augmented reality (AR) and virtual reality (VR) are gaining ground in several sectors.

For instance, real estate companies have enthusiastically adopted this approach and have built simulated environments through a series of linked panoramic photographs of the property’s interiors by using high-quality lenses of 360-degree cameras. Real estate experts use VR to let customers tour all kinds of properties from all over the world by wearing simple VR headsets and experiencing simulations of that property. Different applications can present a great variety of features, so a potential buyer not only walks the property but can also open doors and move furniture.

Therefore, the VR experience is very interesting and immersive for a potential buyer, it is also a powerful tool for showcasing homes and expanding the pool of customers.

Reality technology is a lifeline for retailers

Integration of VR and AR into e-commerce is bringing us to the next level of online shopping. The opportunities are endless: virtual bookstores, groceries, boutiques, and furniture stores. Pretty much any field of e-commerce can use these technologies. VR is the future of retail and will help reconcile e-commerce with brick-and-mortar.

VR/AR in e-commerce – success is not a secret

Here are some advantages of VR and AR in e-commerce:

Store location does not matter. With virtual stores, you do not need actual construction. No energy costs, no rent. That is right, virtual stores do not require energy, therefore, your money is saved.

No actual permanent employees are necessary.

More customers. People who usually do not have time to actually go to the store and try out products are now able to do so.

It creates an engaging personal experience for clients. Integration of VR/AR technology brings a unique and fascinating feel to the whole process of shopping, so customers will be most definitely interested in trying out your proposal.

Try out more items. With VR, customers are able to try out more items than they usually would, so it increases the chances of actual purchase and inspires customers to buy more.

The right choice. With this possibility of tying out more items the chance of buying the most suited one is increasing.

Decrease of returns. With the ability to actually try out products, online shops can minimize returns.

Big opportunities for small businesses in VR/AR technologies

Candidate interviews will never be the same

Interviewing candidates can be really challenging if the people are located in another country or city. Therefore, VR comes in handy. In a virtual conference room, you can meet your candidate face to face and actually see how he reacts to certain questions and analyze his body language. This way you can get the most accurate impression of the personality of your candidates without having them come to you.

On-the-job training

By using VR training sessions, you can minimize the time and costs usually spent on teaching a new hire. The training program can be recorded once and then used multiple times. This type of training lets employees interact with objects and other people. This particular method can even lead to employees being better trained.

VR meetings cut down expenses

Nowadays companies spend as much as $31,6 billion on international travel yearly. Some small businesses can’t afford it. One solution to this problem is virtual reality meetings. You can attend a face-to-face meeting without the need to leave your office, or conduct more meetings so as to get more good deals. It not only saves you money but also time.

Marketing grows strong influence with AR and VR

Here are some reasons to go augmented in marketing strategy:

Noticeable and unique technology. Today these technologies are still considered an innovation, so in order to attract your customers and provide them with fascinating personal experiences, you can use AR and VR. This way you can outsmart your competitors and highlight yourself from the rest of them.

Augmented reality brings more shares. AR creates buzz around your business. It increases sharing on social media and, as a result, brings new customers.

Personalization with AR. This technology beats standard media content every time with its level of engagement. It gives marketers a chance to create unique content that can express one’s individuality.

Stronger engagement. Interactivity, which lies in the core of AR and VR, makes your content way more exciting and motivates customers to choose your product repeatedly.

AR and VR in Education

AR and VR provide limitless opportunities for teaching and learning processes. These technologies create real-life immersive and interactive experiences. Nowadays medical students can learn to do surgeries in virtual reality, astronauts can train for space missions and school kids get fully engaged in history and biology lessons. With AR and VR, it is possible to create virtual classrooms, immersive videogames, and virtual libraries and museums.

Virtual travel becomes a big deal

The travel industry is adopting VR/AR technologies at an exponential rate. Why is that, you’ll ask? The thing is that travel requires investment, so people naturally want to know what they are getting into. Therefore, virtual tours are an evolving technology. People could experience travel before an actual trip, so they would know that this option is the right fit for them. Augmented reality can bring an additional layer to conventional travel. For example, it could place the signs on the street, give information about sightseeing so your navigation would become easier.

Let’s take a look at some existing examples of VR and AR in the travel industry. YouVisit can take a user on a virtual trip to anywhere in the world by using the Google Cardboard headset. Travel looks like a movement in a 360° video. That means you do not need to leave home in order to travel and can now choose your next trip based on VR experience.

Virtual reality goes to space

VR takes over the world, they say. But this is not quite accurate now. Virtual reality now explores the possibility in space. A company named SpaceVR is working on sending virtual reality cameras into space, so anyone could explore the Universe. That means that they have developed the world’s first virtual reality satellite. For now, cameras are capturing video information around the Earth’s orbit, but the company intends to launch cameras into the Solar System.

Conclusion

Technology disrupts today’s business development. And though we’re getting used to that, we know a simple truth: if you’re not part of the solution,…you know it, right? Want to be part of the evolution and benefit from the use of modern technologies? Take time to consider how reality technologies can help your business. Your business success depends on timely decisions and we can help you get started

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