PwC, in its 2019 ‘Seeing is believing’ report, revealed the impact of Virtual Reality (VR) and Augmented Reality (AR) technology on the global economy by 2030. Both are critical to helping industries understand their values.
Not only that but they also help improve society and the world at large. While AR involves the use of digital elements (images, sounds, etc.) to create an enhanced version of the real-world environment, VR provides a simulated experience of the real physical world. It could be different from or similar to what is obtainable in a real-world environment.
If you’re familiar with Pokémon Go video app, you will notice certain creatures floating around the camera image. The technology deployed is AR. The elements can also be in the form of a graphical overlay or a real ‘3D’ object. VR technology, on the other hand, allows you to interact with the virtual world with the aid of certain electronic devices. VR creates a more immersive experience than AR.
Despite the importance of the two technologies, VR is currently occupying the center stage as it has wider applications which include entertainment and gaming industries in addition to its use as a sales, educational, or training tool.
Business applications of VR
VR saves costs, especially in training scenarios. For instance, consider the cost implications of having to train a set of employees abroad. Apart from the cost of transporting the employees to the physical location and accommodating them, having to attend the training physically implies that activities or roles that require the presence of the set of employees to be trained will be stalled throughout the training period.
Conducting such training through virtual means will save travel and accommodation costs. Not only that but it would also cut losses on operations. In this regard, VR has proved itself as a transformative technology. With this telepresence feature, progress on a construction site, for instance, could be monitored. Also, it could also allay the fear of entering into dangerous situations or environments.
VR has also impacted the design of industrial tools. Through technology, the challenge of having to produce physical prototypes on a regular basis is ruled out. Rather, improvements and upgrades could be visualized in a truth-to-scale fashion. The inputs of experts from across the world could also be facilitated without having to leave their home countries.
Even with these use-cases, Apple CEO, Tim Cook, considers VR as having a lower commercial interest over time. The reason might not be unconnected with its immersive feature and limited applications when compared against AR. For instance, which is easier: moving around with a screen wrapped over your face or moving around with headsets?
The potentials of AR
AR in casinos
Online casinos and betting sites have witnessed various degrees of evolution since their inception in the mid-90s, especially in AI. What was previously restricted to only computers is now compatible with mobile devices. Betting sites have continued to show a greater focus on mobile gamers, thus upping their game to stay ahead of the competition.
The biggest casinos may be the first adopters of the technology. Providing players with a realistic and interactive gambling experience might just be what a casino needs to spread its tentacles across the global board. It should be noted that AR software for online casinos is currently being developed and may be ready for integration with online casinos and betting sites in no distant time.
For a list of legal casino sites that are likely to implement AR in the near future in the UK, read through the reviews provided by Online Betting Guide.
Which can operate in more industries: VR or AR?
Though AR is less hyped, it portends a future that is greater than that of VR. Its integration with other systems comes on a much easier scale than VR. Consider the level of engagement Snapchat offers its users.
With up to 150 million daily active users and over 10 billion Snapchat videos being created every day, the mobile app has risen to ‘one of the most popular all-time mobile apps’ status. There are also upcoming games by Nintendo, supporting this technology.
Technological advancement has impacted every process that occurs in the physical world. This is because of the requirement of a digital interface for an effective and successful result.
For instance, Google Map has proven to be a useful tool in navigating to unknown destinations. Beyond this, AR can also be used in performing an oil change on a vehicle, maintaining an elevator system, fixing water pressure on a boiler, among others.
Provision of Smart information
AR gives more accurate information of carrying out a certain procedure more easily. With this, the need for in-depth training for the workforce is ruled out.
In an industry that operates majorly with machines, an AR-integrated system is able to easily detect faults that need to be fixed to allow for the smooth running of a machine after a downtime.
AR is participatory
The nature of humans presupposes that they would always want to share experiences with their friends, family, colleagues, among others.
With the immersive feature of VR that does not leave room for shared experience, you may also see the advantage of AR in helping its users to overcome boredom and the feelings of being in an isolated world.
Though many experts consider AR as the future, it is not a go-ahead to write off VR. Even with its less revenue potentials when compared with AR, VR has also proved to be useful in financial services. It has been used to instill more positive behaviors in bank leaderships.
It also helps customers to be immersed in the gravity of a cyber-security attack, for instance. Data is collected as customers experience the attacks, and customers get timely and accurate information on the steps being put in place to curtail the attack.
The prediction that AR will become bigger than VR is not aimed to see both emerging technologies as competitors; rather, it is to make the world a better place through technology.
The possibilities with AR are endless as it delivers the type of real-world experience that is craved by almost everyone. Though the rise will take a gradual approach, the effect will be monumental.