Why Virtual Reality is the Most Impactful Emerging Technology

Enthusiasm for virtual reality has waned in recent months, as people either bought or sampled the existing headsets and decided it was cool but ultimately not very functional.

They’re right. Existing headsets are exciting for gamers and have some interesting business uses in real estate, health care, and other areas. However, they’re not useful to the average person just yet.

Neither were PCs for about 15 years after their first release.

Neither was the internet.

Neither were mobile phones.

New technologies need to go through several releases before the average person is attracted to them. It starts with the tech enthusiasts that need to have the latest and greatest gadget. Then businesses invest heavily, as they see strong early use cases. All that business investment creates a market demand, which brings more entrants into the field. And finally, there is a release good enough for the average person. Things move quickly from there!

Take a look at how we see it going at RT Virtual Reality…

Some people will still disagree. Although it was extremely hard to envision the IPhone when you only have a giant antenna phone from 20 years ago. And the same is true of virtual reality. It’s hard to envision the world changing when VR only looks like an advanced gaming console today.

But VR can do so much…

And I can get a lot more detailed on other predictions too. VR will transform the lives of everyone! You can’t say the same about other technologies:

• AI will be very interesting for businesses. And it will spawn new gadgets and technological capabilities for the average person. It will also affect a lot of jobs. But it’s not a lifestyle transformer like VR can be.
• Blockchain is also quite interesting for various industries. But for the end user, things will just get slightly easier. There will be better record-keeping systems, easier payment systems, and other improvements to existing processes. It’s not a lifestyle transformer.
• Drones, 3-D printing, and robotics will be quite interesting. They will add a lot to our lives. But they function for only certain aspects of our lives. VR can transform everything we do.
• Other technology might transform specific industries. Fintech, Edtech, self-driving cars, etc. They will revolutionize these industries. But VR will transform our lives.

Let’s think about it one more way…

What does the average person do each day?

• Go to work for 8 hours
• Socialize with family, friends, and others
• Entertainment and hobbies
• Life tasks (cooking, cleaning, running errands, etc)

Most activities fit into one of these four categories.

Virtual reality impacts all of them. It transforms the way we communicate at work and will create an entire industry of new jobs. Other tech might influence jobs but not as much as VR.

It changes the way we socialize. We’ll be learning via VR. We’ll be talking to each other in VR at virtual bars, coffee shops, and tours. We’ll have a virtual social media that far eclipses what Instagram and Snapchat do today. Other tech doesn’t influence our social lives much.

It changes our entertainment. Movies and tv will primarily be in VR. We’ll do virtual exercise, play virtual games, and have the capability of doing any hobby in VR. Other tech is pretty unrelated to entertainment.

Life tasks are life tasks. VR won’t change them much but neither will any other tech.

So don’t give up on VR just yet. Even if you think a headset is too expensive or non-functional today, remember that ALL the biggest tech companies are spending heavily on it. They know it’s the next great computing platform and can potentially replace mobile phones, computers, and television screens.

I certainly cannot wait to see this new era and am positioning my business interests accordingly!

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