The ways in which we perform our daily tasks may be drastically altered by technological advancements. Today, many sectors are being brought into the 21st century thanks to technological advancements and the mixing of the real and virtual worlds. Since much of our time is spent in front of screens, the COVID epidemic and the move to work-from-home have further expedited this convergence. Increasing customer engagement and happiness extended reality (XR) technology provides us with interesting new ways to interact with products and services. Once considered a futuristic idea, XR technology is now widely used in numerous fields. The global XR market is predicted to rise from $31 billion in 2021 to $300 billion in 2024. This article will define extended reality and examine its applications in the corporate world.
What is Extended Reality (XR)?
Virtual reality (VR), augmented reality (AR), and mixed reality (MR) are all examples of immersive technologies that fall under the umbrella term “extended reality.” By blending components from the actual and virtual worlds, or by providing a completely immersive experience, all immersive technologies ‘stretch’ the reality we perceive.
Five Amazing Advantages of Employing XR in the Workplace
The commercial implications of extended reality are substantial. Some benefits that your company might reap from using XR technology include the following:
Improved Interaction with Customers
With XR technology, the “try before you buy” notion may be used in stores, completely changing the way we shop. Using XR, buyers may examine a product in more depth within a simulated setting. With the use of XR technology, consumers may experiment with multiple product permutations and color schemes before making a final purchase decision. You can ‘position’ furniture in your home with the help of augmented reality using IKEA’s IKEA position app. It aids customers in deciding if the items are a good aesthetic and practical fit for their home or office.
The use of XR in retail has the potential to boost client participation, draw in additional buyers, and improve the overall shopping experience. According to a Forbes survey, 40% of consumers would pay more for an augmented reality shopping experience.
Enhanced Capacity for Working Together and Communicating
The use of XR technology can greatly enhance teamwork. Teams who aren’t physically together can nevertheless work together on projects using XR apps. One example is the simultaneous co-design of a product by members of a distributed team working in real time. Virtual reality (VR) conferences and interactive 3D avatars make it easier for distributed teams to communicate and collaborate effectively.
Improvements in Data Analysis
Today’s digital success cannot be guaranteed without data. Analysts used to rely on questionnaires, surveys, and other similar methods to get user opinions. Data about client behavior may be gathered in real time throughout an XR encounter with the use of specific metrics such as eye-tracking, biofeedback, heart rate monitoring, etc.
The acquisition of data may be a turning point in any marketing strategy. A customer’s emotional connection to a product, the factors that sway their purchasing decision, and the most engaging material for a marketing campaign may all be determined with the aid of XR.
Key performance indicators (KPI) in XR-based training programs further assist firms in gauging the efficacy of a training activity and watching how learners fare under pressure.
Safe Training Environment
Using XR technology for staff training is one of the most promising applications of the field in the corporate world. Improved learning outcomes, higher levels of employee engagement, and more efficient training are all possible with the use of augmented and virtual reality (AR/VR). The virtual world provides a safe space for the simulation of potentially dangerous training activities including military training, surgical practice, rescue exercises, etc. Students can practice their newfound abilities and make errors without fear of repercussions. The onboarding process for new workers may be shortened by using XR technology to help them learn faster.
Improved Customer Service
The success of any marketing plan rests squarely on the shoulders of the company’s ability to provide a satisfying experience for its customers. By providing customers with more emotionally engaging experiences, businesses may benefit from XR technology’s immersive content delivery. Sixty-three percent of respondents to a poll agreed that using extended reality technology in stores would be a positive change.
XR can ‘teleport’ individuals to new locations and let them watch live events without leaving their homes. Companies may better promote their products with the aid of XR by using it to host virtual marketing events and product demos.
Commercial Uses of Virtual Reality Technology
The potential uses of XR are vast. A few examples:
- In the retail sector, XR facilitates the “try before you buy” process. Rolex’s AR app lets you virtually test on timepieces while wearing them on your wrist, while IKEA’s app lets you virtually arrange furnishings in your own house.
- Training: Especially in life-or-death situations, XR can provide hyper-realistic training tools that will help soldiers, medical professionals, pilots/astronauts, chemists, and more find solutions to problems or learn how to respond to dangerous situations without putting themselves or anyone else in harm’s way.
- Working remotely, whether from home or with colleagues anywhere in the world, is as natural as being in the same room.
- Professionals in the field of marketing will likely give much thought to the various ways in which XR might be used to attract and retain clients.
- If potential buyers or renters can virtually “walk through” a property from wherever they happen to be, this might be a game-changer in the real estate market.
- The entertainment sector was an early user of immersive technology and will likely continue to do so.
The Problems with XR
Those working on XR technologies are up against some of the obstacles that prevent their widespread use. To begin, it’s important to keep in mind that XR technologies constantly record and analyze sensitive information about your actions, where you look, and even how you’re feeling.
Many businesses won’t be able to afford to adopt the technology until its implementation costs go down. The wearable gadgets that enable a comprehensive XR experience must not only be always connected, intelligent, and immersive, but also stylish and comfortable. Display, power and thermal, motion tracking, communication, and common illumination (where virtual items in the real world are indistinguishable from actual objects, especially when lighting varies) are only some of the major technological and hardware difficulties that need to be resolved.
Every day brings us closer to the day when we can finally put an end to these problems, paving the way for the widespread adoption of XR technologies across a wide range of industries.
XR is a technology with vast potential for businesses to enhance interactions and experiences in a variety of contexts. It’s a vital method for companies to communicate with their clients and staff. In this context, “tool” is emphasized. However, XR as a tool should not be the main emphasis of the application, but rather the desired communication and engagement. If executed properly, it has the potential to boost productivity in the workplace and delight customers.