Smart Virtual Reality Opportunities For Businesses

Immersive technology, the umbrella word for describing augmented reality (AR) and virtual reality (VR), is finally having its moment after years of development and advancements. As a result of well-known technology companies like Google, Samsung, HTC, and others releasing their own versions of VR devices, the popularity of these gadgets and virtual content is at an all-time high. VR has previously been used in a variety of fields and industries.

There is a popular belief that the gaming industry is benefitting from this technology. However, VR is not just applicable to a single domain. It has already stirred up a storm in various industries like business, travel and other areas. Therefore, how may VR impact businesses? The primary business advantages of virtual reality and its potential effects are discussed in this article.

What effect will virtual reality have on business?

Many companies are developing fresher, more creative ways to integrate VR into their everyday business operations to boost productivity and efficiency. Here are some of the main business advantages of VR and how they will affect business:

An all-new level of product prototyping

Businesses can utilise VR to visualise better and design the products they are developing like never. Before the advent of VR, this was not possible, but now that it is, the product being made can be accurately designed, its functionality can be examined, and it can be adjusted several times if necessary before it is put into production. In addition, decision-makers at the company and users of the product will be able to offer helpful criticism about the product that is being developed using VR, which can be included in the product during the product’s early stages of development. Therefore, it is a terrific way to identify design issues fast and address them earlier, preventing post-production headaches.

Reduced business travel & efficient business meetings

Businesses will transform if new technology makes travel and communication more accessible. A few years ago, spreading teams were often considered extremely inefficient due to business travel expenses. But this gap has significantly reduced thanks to modern infrastructure and technologies. Virtual reality will further narrow this gap, assisting organisations in successfully conducting virtual meetings involving various teams worldwide.

VR can give businesses a competitive advantage

Businesses can swiftly and discreetly set up a virtual store, which is far simpler than literally setting up a store, as opposed to launching a traditional product or physically creating a new store. Marketing can move more quickly using this technology, and the store can be planned in full secrecy. This helps companies in remaining competitive.

Candidate interviews will be easier

The human resources department will find it much simpler to interview job applicants in the future, thanks to new VR applications. In a virtual conference room, they will be able to conduct in-person interviews with applicants from various places while watching the applicants’ reactions and body language. Large firms can even build remote offices for candidates to access the infrastructure and participate in interviews or conversations. 

VR will be a key tool in training over the next decade

It is anticipated that professional business trainers will use VR substantially. Due to the unique features of VR, users may gaze around the room and communicate with others online. Trainers can conduct live training sessions, seminars, and recorded training sessions, making the regular training sessions more engaging.

Affordable virtual building design to improve project visualisation

Engineers, architects, and other professionals involved in architectural planning will find virtual reality quite helpful since it will enable them to see the structures they are constructing in great detail. Making smaller models or 2-D representations would require significant time and money, all of which can be avoided. Thus, businesses will be able to experience tremendous growth by adopting immersive 3-dimensional technology.

Augmented Reality innovations

Similar to Virtual Reality, Augmented Reality (AR) has become popular in the medical field and may be used to warn both nurses and surgeons of potential risks or dangers. These new technologies have been quickly adopted, and by 2025, the AR market is expected to grow by 38% yearly.

Conclusion

These are just a few examples of how virtual reality will alter business in the future.

As you can see, it is excellent for interacting with clients and improving the services a company offers. Businesses will experiment with new ways to employ VR as technology advances and becomes more widely available. Virtual reality will be used in business considerably more frequently in the future.

ai technology

How AI is helping the world overcome the COVID-19 pandemic

Artificial Intelligence (AI), a core technology of the fourth industrial revolution, takes advantage of computers and machines to mimic the problem-solving and decision-making skills of the human mind. Initially, AI was designed to resolve simpler issues like winning a chess game, language recognition, and image retrieval, among others. With advancements in technology, AI is increasingly proficient at doing what people do, but more efficiently, quickly, and at a lower cost in addressing complex issues.

Soon after the Covid-19 hit the world, the World Health Organization signalled that AI could be leveraged to manage the crisis caused by the virus. And today, a multitude of AI-powered projects based on data science, ‘machine learning’ or ‘big data’, are being used across a wide range of fields to predict, explain, and manage the different scenarios.

AI in the management of COVID-19 

Big data and AI are assisting in unprecedented speed with which efforts to combat the COVID-19 epidemic are being made. AI can be quite useful In the fight against COVID-19. 

AI is utilised successfully in the identification of illness clusters, case tracking, outbreak prediction, mortality risk, COVID-19 diagnosis, disease management through resource allocation, aiding training, record keeping, and pattern recognition for analysing disease trends. The following are some of the AI applications that are raising hopes in the fight against COVID-19

AI in detecting outbreaks 

The power of AI can be harnessed for forecasting the spread of viruses and developing early warning systems by extracting information from social media platforms, calls, and news sites. It also provides useful information about the vulnerable regions and for prediction of morbidity and mortality.

According to reports, BlueDot, a Canadian health surveillance business, was one among the first in the world to precisely identify the spread of COVID-19 and its risk. The company’s AI algorithms found a cluster of odd pneumonia cases in Wuhan, China, in late December, 2019, and predicted where the infection will spread next.

AI in contact tracing

In the fight against infectious diseases like COVID-19, contact tracing is a critical public health strategy. AI can be used in mobile health applications where smart devices like  watches, mobile phones, cameras and a range of wearable devices can be employed for diagnosis, contact tracing, and efficient monitoring.  

AI in monitoring

AI techniques are used to monitor patients and to anticipate course of treatment in clinical contexts. As per the data from clinical factors and vital statistics, AI can give essential information for resource allocation and decision-making by prioritising the requirement for ventilators and respiratory assistance in the ICU. In COVID-19, it may also be utilised to predict recovery or mortality, as well as provide daily updates, storage and trend analysis, and therapeutic tracking.

AI in early diagnosis 

Machine Learning (ML), an intelligent subset of AI,has the capacity to provide data-driven clinical decision support to hospitals. AI, for example, uses ML to develop technologies that aid pathologists in making accurate diagnoses. 

CT scans, X-rays, and MRI equipment can all benefit from AI to provide more accurate and comprehensive images. Diagnosing a case of COVID-19-related pneumonia using an X-ray and CT scan could potentially reduce the time it takes to diagnose and improve therapy.

AI in telemedicine

AI in telemedicine can also be utilised to avoid the need for frequent and unnecessary hospital visits by remotely monitoring cases and capturing patient data. Medical chatbots powered by AI can also be used for consultations. 

AI is used by several chatbots that examine patients to identify symptoms, connect them to possible ailments, and map the chance of a positive outcome. Thousands of pieces of medical literature are fed into the computer systems, and models are trained to comprehend which symptoms correspond to certain illnesses.

AI in the development of vaccines 

ML was employed by scientists producing Covid-19 vaccines in the early phases of the epidemic. It enabled them to process massive amounts of data and detect patterns in them in ways that would otherwise be impossible.

It aided scientists in determining which portions of the virus were likely to activate an immune response that would protect them against infection while developing vaccinations.

Similarly, it discovered which compounds could be successful at blocking the virus from multiplying in medication development. AI has also been useful in evaluating the prognosis of patients with Covid-19 and determining how patients could respond to existing medicines, among other things.

To sum up, the role of AI in fighting the Covid-19 pandemic is inevitable. However, once the pandemic is over, AI will play a larger role in healthcare systems around the world in the years ahead.

AI has been confirmed as a critical non-medical intervention for overcoming the current global health crisis, developing next-generation pandemic preparedness, and moving toward a resilient recovery.

Unlock the potential of AI and advance your career to the next level. AI courses are surely going to give a tremendous boost to your career.