Augmented Reality (AR) is changing many businesses and industries around the world. AR is different to Virtual Reality (VR) or one would say AR is one step ahead of VR. Augmented Reality gives the user the ability to interact with the technology that is created using computer-generated enhancements and an existing reality. This technology is developed into Apps which need to be used on mobile devices.
VR is slightly different and is typically achieved by wearing a headset while playing a 3D game or watching a 3D movie and candidates who train to become pilots use this particular technology in flight simulators.
However, industries use Augmented Reality to do amazing things such as holograms. Therefore, an Organization will be able to differentiate itself from its competition by using a feature such as Augmented Reality in its business operations.
In this post, we will look at 5 ways businesses could use Augmented Reality in its operations to make the business more profitable and gain a competitive advantage.
With the rise in E-commerce, more customers tend to make purchases online but especially when it comes to buying furniture or white goods, customers are not fully confident or aware whether the goods will fit into their house or the office. Ikea is one of the retailers who has found a solution for this. Potential customers of Ikea can use its App and the built-in Augmented Reality feature to place the furniture they want to purchase at their home or office before they make the purchase. This not only provides great customer satisfaction, it also helps the business to eliminate additional costs involved in returns.
Training and Education
It is a proven fact that students capture only a mere 10% knowledge in University lectures in class due to various reasons, therefore, Augmented Reality would be a great substitute and will assist the lecturers to interact with its students better by explaining complexed processes step by step so that it is easily understood by students and since it is a new technology it will keep the students entertained and engaged as well.
Mechanical and Automotive
The automobile industry could also benefit from the Augmented Reality technology. Many engineers in vehicle manufacturing companies from around the world are sent to the main office or the hub of the original manufacturer to gain more knowledge of its vehicles and the costs associated with the travel and training needs to be borne by the Parent Company or its Overseas Branch and this will impact the bottom line profits. Therefore, using the Augmented Reality technology, the Engineers in the Parent Company could train all the Engineers in other parts of the world. The senior engineers in the Parent Company will be able to demonstrate each step without having to physically be present. This will allow even inexperienced engineers to repair the damages of the newest vehicles. Furthermore, this method could be adapted to any other industry too (Manufacturing, Garments etc).
A challenge majority of the businesses encounter these days is to get its staff who are working in the field in other States or Cities organized for an important meeting or a discussion. True enough that one could use Skype, Video Call or Conference Call but since the staff is not present physically at the meeting, therefore, getting the attention of everyone will be quite a challenge using the above-mentioned methods. However, Augmented Reality technology will be able to offer indirect things such as expressions, eye contact, body language thereby, prompting all the attendees to be on their best behaviour and give attention to every detail thus, enhancing the effectiveness of the meeting. Augmented Reality technology could even be used in external meetings with clients who are based overseas.
Before a new product is launched to the market, it is recommended that prototyping is done to capture any design issues and refine the product and also, it assists the entrepreneurs to find suitable investors for the project using the prototype. However, prototyping new products could be very expensive and time-consuming. But with the Augmented Reality technology, entrepreneurs can develop virtual models of their product which can interact with the real world in real time.
For your business to gain a competitive edge, you need to adopt a business strategy where you will not compete in the same space as your competitors. Therefore, Augmented Reality is a new technology which could be used in your business at any stage to overcome competition through differentiation and win in the marketplace.