They say Virtual Reality is dead
…but let me tell you how badly they are mistaken.
Learning in VR
Learning in virtual reality is a huge opportunity. According to research by Stanford University Virtual Human Interaction Lab, the brain absorbs 33% more effectively in virtual reality than from video. Furthermore, people are 20% more likely to change their behavior following a virtual reality experience. Finally, it provides an opportunity to save up to 60% on installation and maintenance costs.
That sounds like a pretty good business opportunity to me! The challenge here is to stop thinking about the virtual reality hardware itself, but to think about value-creating use-cases instead. My favorite story is the one I heard some time ago: Training CPR with a plastic doll in a warm meeting room gives you the basics, but think if you would be ’taken’ to the roadside of a high-speed motorway, where it was raining, cars were passing by, someone was screaming and it would be up to you to act, based on how you are trained to perform CPR. Now the learning experience really kicks in and reveals how you act in stressful situations ̶ and you can prepare yourself for it!
Another area of great business opportunities is commerce in virtual reality. Imagine this: you have just purchased an apartment which will only be ready in a year. However, this is totally fine, as the construction company provides you 24/7 access to a virtual duplicate of the apartment. Using a broad catalogue of furniture and customization opportunities, you can modify and decorate your apartment as you like and invite external designers, influencers and family members to do some serious feng shui co-design.
An AI assistant helps you decorate the apartment. It measures the floorplan, asks about style preferences, budget, and analyzes neighborhood life quality data. Based on learned patterns of the best places for sofas, tables, and chairs, you will get tons of different ideas on how to decorate with your favorite furniture: It can be 3D scanned with an AR mobile application and then placed into your virtual reality apartment.
Along the way, it offers you solutions for financing this dream house or premium design furniture. Once you are ready with the shopping and customization, you will be able to finalize your order in virtual reality. Products are delivered and installed by the construction company. How convenient!
Virtual Reality is alive and well
Everything starts from detecting the right use-cases, defining which ones are actually creating value to end-users are the most beneficial to your business ̶ more efficient, more sales, more automated, better customer experience. And we are damn good at doing it!
We will be at Slush ̶ come over for a chat! You can also explore how VR helps us to create an exceptional employee experience.
References: VR/AR Association webinar - VR & AR in Training: Amir Elion, SkillReal