13 Sep

A report based on research by IT Consultancy Group Capgemini has predicted a big shift towards the use of virtual reality and augmented reality by businesses over the next 3 years.

Mainstream Soon

The results of a survey of 700 business executives across multiple sectors show that 46% think that VR and AR technologies will become a major part of their organisation in the next 3 years. Nearly 40% also said that VR and AR would be mainstream in just 5 years.

Based on the findings of its survey, Capgemini thinks that half of all businesses not already using AR and VR technology will start using it as they accept the value-adding and cost-saving benefits that it brings.

Good Results, So Far

The report showed that 82% of businesses already using AR and VR tech said it’s either exceeding or meeting their expectations in terms of can enhancing productivity, efficiency and safety in the workplace.
Driven

The optimism and positive predictions for AR and VR being used by businesses is not just being driven by the positive reinforcement of those who are ready using them, but also by the impressive evolution of immersive technology in a short space time of time.

Relevance?

Some companies may be struggling to see how AR and VR could be applied to their businesses now unless it makes up part of a product, but tech commentators believe that some of the most popular areas where they will be used are in offering remote real-time support to customers and in training staff.

Limitations

Two of the key challenges to the growth of the use of AR and VR by businesses in the UK are a shortage of skilled people (the UK has a tech skills gap) and a shortage of investors.

What Does This Mean For Your Business?

The results of the Capgemini survey show promise and optimism for AR and VR being used by businesses to add value and gain a competitive edge in the marketplace, in much the same way that AI is being embraced and is producing good results.
It is unfortunate that UK businesses are still facing a challenge to their use of technology for growth because of a skills gap that was exacerbated by Brexit fears. As far as this challenge goes, the UK government, the education system and businesses need to continue to find ways to work together to develop a base of digital skills in the UK and to make sure that the whole tech eco-system finds effective ways to address the skills gap and keep the UK’s tech industries and business attractive and competitive. This can only help to boost AR and VR development in business.

It is also a shame that the UK, which wants to be a technology centre, is also at a disadvantage in terms of investors compared to places such as the US and China. Capgemini suggests that UK businesses can meet this challenge by streamlining investment to seize the long-term growth potential of AR and VR technology. Also, Capgemini’s report suggests that in order to leverage the business value of AR and VR, UK companies should adopt a centralised governance structure, as well as proofs of concept that are aligned with business strategy, and that they should work on employee change management in order to able to drive innovation in these new fields.