Augmented Reality Presents New Opportunities for Modern Business

Business Apr 29, 2020 at 13:29

Augmented reality is no more a part of science fiction but a part of the modern reality. This technology is a reality that finds its application in everyday life. We got a real taste of this technology a few years back. We saw players wandering through streets or public spaces, glued to their smartphones in search of elusive virtual characters. Augmented reality not only transformed the gaming world but also paved its way into modern businesses. Both cutting-edge industries and old school industries finding augmented reality a future technology. A technology that visualizes data in ways that help in solving intractable problems.

Difference Between Augmented Reality and Virtual Reality

Augmented reality creates an enhanced version of reality which can be viewed through a smartphone camera. It superimposes a computer-generated image on a user’s view of the real world. In virtual reality, the user sees computer-generated images. Moreover, the user is isolated from the real world as they are immersed in a fabricated world.

Augmented Reality Helping Companies to Visualize Data

Augmented reality helping companies to cut costs, product launch and collaborations AR technology presenting whole new opportunities to modern businesses to come up with new and creative ways. It is enabling customers to interact with their products and services. For instance, an engineering firm Aecomis helping architects and engineers on multiple continents visualize models of large and complex building projects by using mixed reality technology. Augmented reality helping companies to visualize data in a conference room thereby solving the problems instantly. The problems are solved immediately because of the experts. The experts sitting remotely guide the people on the ground with the instructions. Furthermore, technology is helping humans interface more quickly with machines to get to the problems faster.

Augmented Reality and the Banking Sector

The banking sector has adopted AR widely. More and more banks are leveraging online and digital channels to reach out to the customers. One of India’s leading bank Axis bank adopted this technology pretty early with their mobile banking app offering multiple AR services. For instance, the “ Near Me “ tab of the app, wherein customers have to define a geographical radius and the banking app shows them the nearest ATMs and branches

AR and Manufacturing Sector

The AR accelerates the building processes as this technology enables project managers to monitor work progress in real-time through AR markers on equipment. Furthermore, technology helps in assembling hundreds or thousands of components in precise sequences as fast as possible, whether the product is a toy or a jet engine. Moreover, the employees take the help of this technology to learn intricate concepts easily with vivid representations.

Conclusion

Once the pandemic has passed, working from home would be the new normal. A survey conducted in March 2020, stated that 38 % of enterprise businesses are contemplating working from home would be a permanent policy. Remote working would become the standard modus operandi even after the pandemic to prevent sudden flare-ups.