At first glance, virtual reality has use cases in every industry, and yours is probably one of them.
Virtual reality (VR) has been dubbed the future of education, corporate training, gaming, shopping and more. If reports are to be believed, virtual reality is set to change the tech landscape for good. So it’s clear that virtual reality is here to stay, and it’s worth it.
The pandemic has accelerated the growth of new technologies, with virtual reality being one of the most anticipated and adopted. In fact, reports have revealed that virtual reality used in business is expected to increase in value from US$829 million in 2018 to US$4.26 billion in 2023. After all, it is proving effective in training in workplace, medicine and more.
So what makes virtual reality worth investing in for years to come?
Building better brand experiences
The fact that customer experience is central to business success is evident in today’s environment. In 2022, companies spent over US$640 billion on customer experience technologies. It’s money well spent, as a McKinsey report found that investing in customer experience can increase sales revenue and profitability.
Virtual reality helps businesses create that memorable experience by emphasizing personalization and tailored experiences that customers value. For example, Swiss furniture giant IKEA has a VR app, IKEA Place, that allows users to virtually understand what a sofa or chair would look like in their home before buying it.
Nurture mental health
Among the many disastrous consequences of Covid-19, its impact on mental health should be noted. According to the World Health Organization (WHO), the prevalence of anxiety and depression worldwide has increased by 25% due to the pandemic. Virtual reality can also help in this regard.
Psychological research has found virtual reality can help with social anxiety, chronic pain, and even Alzheimer’s disease, which doesn’t yet have a cure. With mental health issues on the rise and people experiencing increased stress due to economic and other circumstances, virtual reality is set to play a crucial role in helping people and helping therapists do so as well.
American startup Limbix, Inc., for example, includes VR content that helps address issues including alcoholism, claustrophobia and depression in teens. Another VR startup Amelia (formerly Psious) offers treatments for eating disorders, among others.
Improve cybersecurity
Recent cybersecurity breaches, from Medibank victim of a customer data breach to the Costa Rican government’s finance department plagued by Russian hackers, have highlighted one thing: the state of cybersecurity around the world is laughable. . And something needs to be done urgently. Virtual reality, if used properly, can be used to better train professionals when it comes to dealing with such hacks. It can also be used to raise awareness of different types of cyberattacks.
That said, it can also have the opposite effect. Since virtual reality involves the use of headsets and other similar technologies, it can allow hackers access to finger and eye tracking, which in turn can lead to misuse or theft. of his personal information. The device can scan your room, your retina, your surroundings and even the faces of your family members. You never know who’s on the other side of the VR you’re interacting with, and that can potentially pose a lot of threats.
explore the planet
Yes, VR is great for gaming, shopping, therapy, cybersecurity and more. However, zoom out and you’ll find that it may also help explain the various mysteries hidden within the planet. For example, researchers can work together using KeckCAVES, software developed by scientists at the University of California, Davis. KeckCAVES are individual environments using large screens, cameras and projectors to develop a collaborative and immersive space where users can interact (move, rotate, color, etc.) with real-time 3D data. In doing so, they will all explore the planet, reflect and help us better understand the world.
Whatever field you are in or your interests and requirements, there is likely a use case for virtual reality that can enhance your journey. At first glance, virtual reality is definitely a worthwhile investment for the coming year. But perhaps in the years to come, this technology will be replaced by mixed reality technologies, giving you the best of the various realities that exist today.
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