Why XR Technology in Business is Here to Stay | Circuit Stream

What is XR Technology?

Extended Reality, or XR, is the umbrella term for all immersive technologies, including virtual reality (VR), augmented reality (AR), and mixed reality (MR). While they have their distinct differences, all XR technologies blend the real world with a virtual world to create an immersive experience for the user.

Use Cases of XR Technology in Business

So, that’s the future.

Healthcare

XR is big news in healthcare, as it’s expected to drive $5Bin revenue by 2025. One such example is Accuvein, an innovative vein visualization tool that creates a real-time visual map of the patient’s veins on their skin. This makes it safer for patients and easier for medical professionals to locate veins for blood draws or IV procedures.

Engineering

Boeing uses the augmented reality eyewear, Google Glass, as part of the aircraft design process. Planes have a complex wiring system that can take hours to build manually. With Google Glass, Boeing slashed production time for aircraft wire harnesses by 25%, with a 50% reduction in error rates.

Marketing

Facebook recently launched three new interactive ad formats, following hot on the heels of Swirl from Google Ads . With the rise of video marketing and visual content, these interactive ads are sure to become commonplace as XR technology advances.

Real Estate

Market leader Zillow is just one of many companies that now offer an extended reality experience, allowing people in the market for a new home to tour properties by wearing a VR headset. Similarly, augmented reality enables property builders to show prospective buyers how the finished property will look before construction even begins.

Retail

Just when the world though the Yellow Ghost was about to be killed off by Instagram Stories, Snapchat partnered with Amazon . The augmented reality app allows users to take photos of objects or barcodes, then buy them on Amazon, welcoming a new era of social commerce.

5 Benefits of XR Technology in Business

As you can see, there has been a significant surge of XR technology in business in recent years, with the innovation sprawling across several major industries.

1. It Enhances the Customer Experience

With extended reality, people can visualize products and interact with them to get a feel for what it would be like to own them. It could be a new eyeliner, a sofa, or a car.

2. It Improves Internal Communications and Collaboration

Development teams can use XR technology to collaborate on projects, even when they aren’t in the same city, let alone the same room.

3. It Drives Productivity

As XR technology in business paves the way for greater efficiency, companies will invariably become more productive.

4. Ease of Training

Speaking of learning, one of the best use cases of XR technology in business is as a training tool. This is especially true when it comes to people who work in potentially hazardous environments, such as those in the military or oil & gas workers.

5. Better Insights through Data Visualization

In a data-driven age, the businesses that embrace data are the enterprises that will thrive. Data goes hand-in-hand with XR technology, bringing visual context to hard figures.

Wrap Up

When you embrace XR technology in business, your company will be able to offer an unrivaled experience that people won’t forget. You can create purpose-driven experiences that educate customers, employees, and investors alike.

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Dejan Gajsek

Dejan Gajsek

Growth Marketer, Perennial Student and Eggs Benedict Aficionado. I like barbells and growth at dgajsek.com. Twitter: @dgajsek.