The importance of Emerging Technologies in Business Applications
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Blog Post
Data is accessible in so many ways, and now there are technologies that can drive an even higher ROI for companies willing to make an investment. These new technologies will not only improve consumer experiences, they can assist businesses in day-to-day operations. To discuss these emerging trends, including AR, VR, and the metaverse, Haptic Feedback host Courtney Echerd spoke with Dan Cotting, Director of Emerging Technologies, and Dan Cui, VP Sales and Business Development, Shockoe.
To kick things off Cotting first defined the term metaverse, “It’s about taking data and putting it where we need it when we need it. It’s a data layer over the physical world, like using your GPS and having it point you in the right direction.
Cui noted that the COVID-19 pandemic taught the world it can operate virtually and that the metaverse is the next step. “The goal is to surround yourself with content when you need it and being able to do so in a hands-free way with glasses. It’s the next cellphone.”
Cotting shared another example of the metaverse in action. For workers that are in dangerous situations that require both hands, using data in the physical world can improve safety. “You don’t want them to be using a phone. Glasses offer them a way to see what they need and have both hands free.”
With more options available than ever, technologies like AR also mean businesses can stand out from the crowd. Cui added that the ROI for new technology is proven for consumers as well. “Studies show 71% of consumers prefer shopping with retailers that use AR, and those that use it have a 40% improvement in conversions.”
For Cotting, one of the biggest opportunities for new technologies like headsets is through business operations. “Think about training someone to use machinery. You’re doubling up on resources when you could use a headset that recognizes the equipment and tells the person to push this button then the next,” Cotting shared.
