Young Man wearing Hololens pressing virtual buttons on business charts

VR and AR for Business, FOMO, and First Steps

Have you ever worked for a company that jumps onboard with a costly, yet unproven trend? Have you dealt with a director that refuses to try something new, rock the boat, or change a budget? Adopting VR and AR for business can easily encounter both problems.


You may have a manager who wants to try anything and everything, regardless of whether or not it’s the right fit – all because of a fear of missing out.


And conversely, there may be a gatekeeper within your organization who is either personally resistant to change or has just been burned by involvement in the aforementioned nosedive into an ill-fated experiment.


At Stambol, we’ve seen a lot. Our combined tech and corporate backgrounds cover over several decades of experience. So we can tell you how spatial computing solutions like VR and AR can help propel your business forward. But we also know what kind of barriers and historical setbacks you might be up against before you can make the change.


New technology needs to jump over hurdles to shake off excess baggage as we collectively learn how best to use it. Extended Reality is no different, and will inevitably be better in the long run for exploring all the bells and whistles in the beginning.


Today we’re sharing some talking points that can get your organization started on the road to using XR, both now, and looking to the future.


“VR and AR have the potential to add $1.5 trillion

to the global economy by 2030.”

– PwC Seeing is Believing report, 2019


The primary enterprise use cases that will drive the growth predicted by PwC are product design and development, medical diagnostics and procedures, workplace training, process improvements, and retail marketing.


VR and AR for Business WILL Change Your Market


FOMO becomes irrelevant when the object of that desire is simply the norm.


Very few modern industries will be untouched by the Extended Reality technology currently in development. This is because XR products and the systems that power them will be so widespread and interwoven into human life that to many, XR will be invisible.


In 2016, it may have been relatively easy for someone to write off ‘facebrick’ devices as fads. And even the most sophisticated headset could have been rationalized away as really high-end video game equipment.


But if you have a robust understanding of spatial computing, you know just how far these changes are really going to reach.


Terms like the AR Cloud, Augmented Analytics, Digital Twins, Machine Learning, and many more are coming to the forefront of discussions in urban planning, civil engineering, construction, and industry. In short, most people will at some point walk on and through Extended Reality, whether they realize it or not.


Whether you drive a bus or ride one, whether you repair sewage lines or flush a toilet, whether you collect and process meteorological data or just check the weather on your phone, all of this is being renovated with XR.


Training via VR and AR for Business


Part of what will propel the proliferation of Extended Reality technology is daily practical use. When we’re using VR and AR for purposes beyond entertainment, society as a whole will develop a better appreciation for what this technology can offer.


We can see the first steps in this direction as retailers, classrooms, even law enforcement, have begun to implement simulations as part of their curriculum. Storefronts can prepare employees for stressful customer interactions. Teachers can take students on trips to Mars. Medical students can practice surgical procedures. And police cadets can be safely, yet effectively immersed in active shooter situations.


VR and AR as a Workplace Tool


More industries are adopting VR and AR equipment for employees. When training is over, these headsets and tablets carry value over to daily tasks for medical professionals, educators, factory technicians, interior designers, warehouse workers, and even YouTubers.


XR technology has mushroomed into a diverse ecosystem of products and applications that can improve almost any person’s workflow. Although specific solutions vary dramatically, we want you to consider the broad range of industries we’ve mentioned so far. This holistic view of how much VR and AR have advanced should give you an idea of where spatial computing tools will reach in the future.


Marketing Strategies via VR and AR


Industries from retail to real estate are adopting VR and AR for promotions and beyond. Try-before-you-buy and remote virtual walkthroughs mean that prospective customers can interact with products in a meaningful way without leaving their homes.


XR marketing is more than just convenient for buyers, it’s cost-effective for companies who reduce the overhead associated with renting and staffing storefronts.


And last, but not least, we are still well within the window of VR and AR marketing having a ‘cool’ factor. Posters that come to life and packaging (or products themselves) that become animated behind a screen make almost anything more fun. Likewise, being able to tour possible office rentals in 20 cities from a single location is still pretty impressive.


VR and AR for Business is Green


At Stambol, one of our favourite points to mention about getting started with VR and AR is that it’s an excellent way to reduce your organization’s carbon footprint.


If you set aside the cost-savings involved with virtual training, digital product testing, and simulated walkthroughs, there is still a huge benefit to not burning up practice materials, wasting tester products, or building superfluous show homes and show suites. While those are just a few examples, you can extrapolate the reduction of consumables to many other settings.


Concepts like BIMfinity illustrate ongoing benefits as well. Systems in smart cities which are run with AI-powered Augmented Analytics waste less energy and proactively call for repairs. These buildings use resources like electricity and water far more efficiently than individual people would ever be able to manage.


We love being a part of an industry which has a positive impact on our planet’s future. Especially when earth-friendly changes are needed more than ever.


Getting Started with Spatial Computing Solutions


VR and AR for business has matured to the point where both technologies are contributing a combined $46 billion to the global economy. There is no longer any reason to hold off on getting started.


So we’re going to leave you with five questions to get you thinking about your next steps.


  1. How does your organization use technology?
  2. What shortfalls does your business experience?
  3. Are there any skill gaps on your team that affect operations?
  4. Which project or process could benefit from a new idea?
  5. Do you have systems in place to evaluate new strategies?
  6. Where do you see your organization in 5 years? In 10 years?


If you’re ready to learn more about VR and AR, reach out to a Stambol expert. We can help you figure out what you do and don’t need. And we’re ready to work with any concerns your stakeholders have about fads and trends. All, of course, with zero strings attached.


Feature Image Credit: Adobe Stock / Tran