How Businesses are Gaining Competitive Advantag… — Helios Solutions — Quora

estimated read time 3 min

Emerging technologies are revolutionizing the way businesses conduct business! To thrive and gain a long-term sustainable competitive advantage in the digital economy, you must proactively discover emerging technologies that would enable you to maximize value by minimizing operating costs. Augmented reality (AR) and virtual reality (VR) can enable you to get an edge over competition. Just you need to come up with an innovative app idea for your business and reach out to an outsourcing mobile application development agency for an informed and cost-effective investment.

Even though, were depicted as the trough of disillusionment and slope of enlightenment respectively in the Gartner Hype Cycle of Emerging Technologies, businesses across industries are already using them as key differentiators. Let’s put a glance on the business uses of AR and VR in various industries:

Tourism

The VR is giving a boost to the tourism industry by allowing guided tours for any place on the globe. Travel and hospitality firms can even recreate the environment of the accommodation by using real stimulants (aromas, wind, etc.) on the potential guest of a hotel or resort.

Tour operator companies are getting higher return on investment with the help of these technologies. For instance, Thomas Cook collaborated with Samsung Gear VR to offer realistic presentation of its locations around the world to its potential clients and earned almost 40 percent ROI within couple of months.

Moreover, Google’s AR app Word Lens is helping international business travelers by automatically translating signs when they aim their smartphones at the signs.

Retail

Businesses are using AR and VR in many ways to move customers through the purchase funnel. IKEA and Converse are already rendering immersive shopping experiences to their customers with their AR retail apps.

E-commerce giant Alibaba is all set to infuse its shopping experience with both AR and VR technologies.

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Healthcare

VR is already enabling students and experienced professionals in healthcare sector to gain insights about the human anatomy by using virtual models prior to performing high-risk procedures on a real body. You can also view surgeries in real time via 360 degree videos from all around the globe with VR apps like Medical Realities.

Now you can get suggestions from a distant surgeon right on your Google Glass during a surgery via an AR video support platform called Viipar.

Automotive

VR has transformed the processes for design, safety and purchasing in the automotive industry. In near future, the need for dealership showrooms could become obsolete with major brands such as Volvo, Ford and Hyundai using VR for sales along with manufacturing process.

BMW announced that they would be using an AR retail app powered by Google’s Tango technology and you can even step inside the virtual car to check its interiors.

Conclusion

In addition to the aforementioned industries, AR and VR are also benefitting other sectors including aerospace, education, marketing and real estate. Would you like to include any other industry to this list? We would love to hear from you; please leave your comments.


Originally published at heliossolutions.quora.com.