Since the economic turbulence caused by the pandemic, the world has reassessed the way it works. For many, the drawn-out days of commuting to and from an office have since been replaced by the integration of technology, namely augmented and virtual reality. But what’s next for the world of work — and are we on the brink of another cultural shift in the way businesses operate across the world?
Well, you could say that shift is already well underway. Because through the introduction of extended reality (XR), global businesses have completely transformed the way they operate. But before we go any further by telling you how, let’s start by unpacking the term ‘extended reality’.
Extended reality, otherwise known as XR, is a catch-all which refers to virtual reality (VR), augmented reality (AR) and, sometimes, mixed reality (XR). It’s a platform that combines all immersive technologies to change the face of entertainment, marketing, training, remote working and many other aspects of our working and social lives.
With all that said, XR might not be a fit for every type of business. So without further ado, let’s zoom in a little closer.
Is XR right for your business?
Don’t be fooled: investing in the hardware and software required for extended reality isn’t cheap. But if it aligns with your corporate goals
and objectives, it could be the smartest investment you ever make. So before you make the leap to technology, here are some points to consider.
Does XR already exist in your sector?
If another organisation in your sector is already using XR, assess how they have implemented the technology and whether it improves their offering. By researching its current use, you might also gain a stronger sense of skills required to operate and maintain the software and equipment. With that said, if XR isn’t currently used in your sector, maybe taking a lead could make business sense. Let us know if you want a second opinion.
Is your service or product right for XR?
Although XR has made significant strides in business, it’s current potential might not be developed enough to add value to your product or service. In most cases, XR is used to replicate products, scenarios or events costly to replicate in real life. And while the technology can be used for a multitude of bespoke reasons, it’s worth checking its capability before making an investment.
Is XR right for your typical customer base?
As much as the prospect of new technology excites the majority of us, some prefer to follow traditional and familiar methods of operating. So whether it’s your customers or colleagues, take the time to understand whether XR will be willingly integrated or whether it’ll upset the applecart.
Is your business capable of integrating XR?
Introducing extended reality into your business isn’t a quick fix. It’s something that takes time and will need to be steered by a clear vision throughout the entire integration process. As well as investing in hardware and software, you’ll also need to think about training staff to use XR as well as adapting processes for smooth integration.
If you require any more advice on any of these points, feel free to speak with one of our extended reality experts.
How businesses can use XR
To give you a stronger steer on whether XR is right for your business, here are some stand-out benefits of its integration.
Enhanced customer experiences
Within the retail space, extended reality is being used to streamline the customer shopping experience. Without leaving the comfort of their homes, shoppers can explore products in a virtual environment, gathering all necessary information before making an informed purchase decision.
IKEA are one of the latest to invest in immersive technology by introducing IKEA Place: a true-to-scale augmented reality experience that lets customers furnish their homes with virtual furniture. Gone are the days of taking a tape measure to a store. Now you simply open an app from the comfort of your home – and off you go.
Simulate safe training environments
Whether it’s responding to a military operation, undergoing a surgical procedure or repairing vital equipment on a wind turbine, extended reality can be used as a platform to respond to hazardous scenarios within a safe environment.
Not only does it mean trainees can relive each scenario as many times as necessary, but it also provides an extra layer of confidence with the reassurance no consequences will come from making an error.
Improved data analysis
You don’t need us to tell you every business needs accurate data – and through the integration of XR, getting all the stats and facts you need has never been easier. Because through specialist metrics like eye-tracking, biofeedback and heart-monitoring, to name but a few, XR opens the door to collect customer data on a whole new level.
It’s a dream for marketing departments who, since integrating XR, have lifted the lid on new types of data such as customer bonds products, influences for purchase and what type of content attracts the most traffic across various campaigns.
Examples of businesses using XR today
BMW
Luxury car manufacturer, BMW, have used immersive technology to simulate all aspects of it’s manufacturing process. It’s a development that’s improved the precision and accuracy of development as well as reducing production time by up to 30%.
BMW have also started to integrate XR for vehicle design, remote customer support, marketing, engine assembly training and workstation planning.
Coca-Cola
Global drinks brand, Coca-Cola, have invested in virtual reality to upskill 1,300 managers across its worldwide branches.
Primarily used to simulate virtual roleplay scenarios, users were able to access the training from anywhere in the world and access immediate feedback on their performance for each activity.
Coca-Cola have since reported the introduction of VR training has tripled learning engagement over a nine-month period. That’s not a bad investment by any metric.
Lockheed Martin
Sometimes, investing in immersive technology can pay for itself almost instantly. And at Lockheed Martin, that was exactly the case when AR prevented and engineer from destroying a million-dollar piece of sheet metal.
Immersive technology has also been used by Lockheed Martin to advance a series of assembly tasks, which includes the Orion spacecraft for NASA’s Atremis program.
Closing thoughts
Adding extended reality to your business arsenal paves the way for a more immersive experience for you, your colleagues and your customers. However, XR isn’t something you can integrate overnight, so before you decide to invest, it’s vital to check it ticks all the boxes for your business.
As XR continues to make breakthroughs across a range of global corporations and industries, we delve deeper into a world of technology that’s transforming the way we work, live and play.
Perhaps asking yourself whether immersive technology is right for your business is the wrong question. Instead, it might be more accurate to ask yourself when you’re going to invest.
If you’d like to learn more about extended reality (XR) or want to demo how our technology can help your business, feel free to get in touch today.
Since the economic turbulence caused by the pandemic, the world has reassessed the way it works. For many, the drawn-out days of commuting to and from an office have since been replaced by the integration of technology, namely augmented and virtual reality. But what’s next for the world of work — and are we on the brink of another cultural shift in the way businesses operate across the world?
Well, you could say that shift is already well underway. Because through the introduction of extended reality (XR), global businesses have completely transformed the way they operate. But before we go any further by telling you how, let’s start by unpacking the term ‘extended reality’.
Extended reality, otherwise known as XR, is a catch-all which refers to virtual reality (VR), augmented reality (AR) and, sometimes, mixed reality (XR). It’s a platform that combines all immersive technologies to change the face of entertainment, marketing, training, remote working and many other aspects of our working and social lives.
With all that said, XR might not be a fit for every type of business. So without further ado, let’s zoom in a little closer.
Is XR right for your business?
Don’t be fooled: investing in the hardware and software required for extended reality isn’t cheap. But if it aligns with your corporate goals
and objectives, it could be the smartest investment you ever make. So before you make the leap to technology, here are some points to consider.
Does XR already exist in your sector?
If another organisation in your sector is already using XR, assess how they have implemented the technology and whether it improves their offering. By researching its current use, you might also gain a stronger sense of skills required to operate and maintain the software and equipment. With that said, if XR isn’t currently used in your sector, maybe taking a lead could make business sense. Let us know if you want a second opinion.
Is your service or product right for XR?
Although XR has made significant strides in business, it’s current potential might not be developed enough to add value to your product or service. In most cases, XR is used to replicate products, scenarios or events costly to replicate in real life. And while the technology can be used for a multitude of bespoke reasons, it’s worth checking its capability before making an investment.
Is XR right for your typical customer base?
As much as the prospect of new technology excites the majority of us, some prefer to follow traditional and familiar methods of operating. So whether it’s your customers or colleagues, take the time to understand whether XR will be willingly integrated or whether it’ll upset the applecart.
Is your business capable of integrating XR?
Introducing extended reality into your business isn’t a quick fix. It’s something that takes time and will need to be steered by a clear vision throughout the entire integration process. As well as investing in hardware and software, you’ll also need to think about training staff to use XR as well as adapting processes for smooth integration.
If you require any more advice on any of these points, feel free to speak with one of our extended reality experts.
How businesses can use XR
To give you a stronger steer on whether XR is right for your business, here are some stand-out benefits of its integration.
Enhanced customer experiences
Within the retail space, extended reality is being used to streamline the customer shopping experience. Without leaving the comfort of their homes, shoppers can explore products in a virtual environment, gathering all necessary information before making an informed purchase decision.
IKEA are one of the latest to invest in immersive technology by introducing IKEA Place: a true-to-scale augmented reality experience that lets customers furnish their homes with virtual furniture. Gone are the days of taking a tape measure to a store. Now you simply open an app from the comfort of your home – and off you go.
Simulate safe training environments
Whether it’s responding to a military operation, undergoing a surgical procedure or repairing vital equipment on a wind turbine, extended reality can be used as a platform to respond to hazardous scenarios within a safe environment.
Not only does it mean trainees can relive each scenario as many times as necessary, but it also provides an extra layer of confidence with the reassurance no consequences will come from making an error.
Improved data analysis
You don’t need us to tell you every business needs accurate data – and through the integration of XR, getting all the stats and facts you need has never been easier. Because through specialist metrics like eye-tracking, biofeedback and heart-monitoring, to name but a few, XR opens the door to collect customer data on a whole new level.
It’s a dream for marketing departments who, since integrating XR, have lifted the lid on new types of data such as customer bonds products, influences for purchase and what type of content attracts the most traffic across various campaigns.
Examples of businesses using XR today
BMW
Luxury car manufacturer, BMW, have used immersive technology to simulate all aspects of it’s manufacturing process. It’s a development that’s improved the precision and accuracy of development as well as reducing production time by up to 30%.
BMW have also started to integrate XR for vehicle design, remote customer support, marketing, engine assembly training and workstation planning.
Coca-Cola
Global drinks brand, Coca-Cola, have invested in virtual reality to upskill 1,300 managers across its worldwide branches.
Primarily used to simulate virtual roleplay scenarios, users were able to access the training from anywhere in the world and access immediate feedback on their performance for each activity.
Coca-Cola have since reported the introduction of VR training has tripled learning engagement over a nine-month period. That’s not a bad investment by any metric.
Lockheed Martin
Sometimes, investing in immersive technology can pay for itself almost instantly. And at Lockheed Martin, that was exactly the case when AR prevented and engineer from destroying a million-dollar piece of sheet metal.
Immersive technology has also been used by Lockheed Martin to advance a series of assembly tasks, which includes the Orion spacecraft for NASA’s Atremis program.
Closing thoughts
Adding extended reality to your business arsenal paves the way for a more immersive experience for you, your colleagues and your customers. However, XR isn’t something you can integrate overnight, so before you decide to invest, it’s vital to check it ticks all the boxes for your business.
As XR continues to make breakthroughs across a range of global corporations and industries, we delve deeper into a world of technology that’s transforming the way we work, live and play.
Perhaps asking yourself whether immersive technology is right for your business is the wrong question. Instead, it might be more accurate to ask yourself when you’re going to invest.
