Numerous enterprises are adopting new technologies for better business outcomes. This technological embrace has given impetus to the implementation of new technologies such as Augmented Reality (AR) and Virtual Reality (VR). AR and VR have created revolutionary changes in medicine, architecture, and design and provided a new way for business to demonstrate products and services.
Difference between AR and VR
These two technologies can reshape the small businesses environment and their experiences, but these are not synonymous. Augmented Reality can add a digital layer with devices reading the real world whereas Virtual Reality is an immersive technology which restores the real world with 3D space. The application of these technologies by startups may drive financial growth.
Re-Imagining the possibilities with AR
More than half the percentage of customers shops more frequently and is willing to pay more for an item at a retailer offering services through AR-driven solutions. Most of the online shopping websites are presenting their product demos with AR technology and are allowing customers to shop their products from the comfort of home and that can give better customer experience.
Transforming retail space with the possibilities of VR
Adoption of VR technology in the real estate industry enables customers to experience the 3D walkthroughs of existing properties which are located anywhere on the planet. The technology can revolutionize the retail space by creating prototypes which can change the way companies train their employees. Companies like BMW, Citigroup are experimenting with VR technology by creating vehicle prototypes which can allow traders to visualize and interact with complex data.
To gain a competitive edge and also to promote better decision making, it is vital for enterprises to understand the enormous potential of these technologies for more insights.