Yaa sure AR will definitely going to change real time experiences of all things.
Simple defination of augmented reality (AR) is nothing but feel the things virtually.
When IOT & AR come together this can be implemented in many areas just like malls, industries, hospitals, research labs etc etc.
Coming to an example,suppose doctor needs to do critical operation where with the help of above things it will make him helpful for the purpose of seeing all the integral body parts & as per procedure he will do the operation related stuff.
Another one about bike or cars. One can easily view all the parts & with the help of iot sensors one will come to know that where is the actual fault, also it is possible to take real time experience like driving a bike,inside structure,petrol tank, average, etc etc. things one can come to know easily.
For developers I would like to suggest one software called thingworx where u can able to experience actual AR & IOT. How they are going to be work.
It can also be useful for real time game experiences.
Here I attached one pic of AR done with the help of unity.