The growth of virtual and augmented reality in business

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Faye Loader

By Faye Loader, head of business development at The Brewery

From virtual tours to automated customer service bots and image recognition software, the possibilities for businesses to increase efficiency and accuracy using virtual and augmented technology is greater than ever, but what exactly are these new technologies and how are businesses putting them to use?

While VR is leading the commercial charge with virtual tours and bringing artistic concepts and experiential entertainment to life, businesses are now looking at evolving platforms to enhance their sales performance and visibility.

Pokémon GO is probably the most famous recent example of AR and works by imposing a digital representation of the series’ eponymous characters into the real world with the users mobiles acting as something of an intermediary looking glass.

The medical sector for example is using virtual simulations in sync with cognitive behavioural therapy to treat patients with social anxieties or phobias of things like flying, public speaking, or heights, allowing them to meet their fear head on without any actual risk. The British military also recently made the announcement that it would incorporate Oculus Rift into its training of war zone trauma medics and Coldplay highlighted the wonders of VR during their recent ‘A Head Full of Dreams Tour’ by offering virtual reality users the ‘best seats in the house’ and allowing them to live-stream the concert via a VR headset.

The VR and AR industries show little sign of letting up, the shrewdly named ‘V-commerce’ market looks set to revolutionise the way companies operate and engage with customers as virtual and augmented technology moves from the realm of science fiction into a very palpable reality.

One of the most interesting (or creepy, depending on how you see it!) uses of AI, is online behaviour predictions and analytics. By sifting through huge amounts of data, automated software is able to use complex algorithms to compare, contrast and predict online behaviour and habits in the hope of creating something of a virtual profile based on your online activity. Facebook is famously good at this and has been utilising user information to develop advertising strategy for years.

These technologies are ’game changers’ on their own, but when joined together, can create experiences that wouldn’t feel out of place in a Steven Spielberg flick.

Of course every industry utilises technology differently, but the possibilities are exciting to say the least. With advancements in VR, AR and AI occurring all the time, we should be looking forward to the redesigned reality of the future.

 

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Conference News hosts great guests on its pages. Our Blog section is the collection of the best opinions in the UK and international events industry.

ConferenceNews Guest Author

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ConferenceNews Guest Author

Conference News hosts great guests on its pages. Our Blog section is the collection of the best opinions in the UK and international events industry.

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