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Evolution of Business Technology

September 16, 2019

Reading time: 9 minutes

The modern business world is inundated with technologies that didn’t exist even 100 years ago. How did we get here and what does the future hold?

.lazyload-placeholder { display: none; } Evolution of Business Technology Infographic

You might think of virtual reality (VR) only as it relates to the world of gaming but this unique technology offers promise far outside of saving princesses. VR has huge potential in many other industries. Here are six unexpected ways VR is weaving itself into the fabric of our modern lives.

What is virtual reality?

First, it’s important to understand a little bit about virtual reality before we dive into how it’s changing our modern landscape. VR is an immersive technology that builds out a simulated environment and effectively tricks your brain into believing you’re somewhere you’re not.

It typically features both hardware and software to increase the user’s suspension of disbelief.

The four elements of virtual reality

There are four different elements characterize virtual reality and separate it from other forms of technology such as mixed reality and augmented reality.

3D-simulated environment: An artificial environment is rendered through a medium like a VR display or a headset. The user’s visual perspective changes based on movements occurring in the real world.
Immersion: The environment is realistic enough where you can effectively recreate a realistic, non-physical universe so that a strong suspension-of-disbelief is created.
Sensory engagement: VR can include visual, audio, and haptic cues that help make the immersion more complete and realistic. This is where accessories or input devices such as special gloves, headsets, or hand controls provide the VR system with additional input of movement and sensory data.
Realistic interactivity: The virtual simulation responds to the user’s actions and these responses occur in a logical, realistic manner.

How is virtual reality is revolutionizing different industries?

Virtual reality is proving its mettle in a variety of different industries, from healthcare to on-the-job training.

1. Diagnostics

Virtual reality can help facilitate a better physician-patient relationship in both in-person visits and telehealth interactions that happen over an internet connection. During in-person visits, doctors can more thoroughly explain a diagnosis by examining X-rays and other medical imaging in an engaging manner directly with the patient using virtual reality technology. By leveraging VR tech, physicians can explain a medical issue in an interactive, easier-to-understand manner.

Virtual imaging may also provide more accurate and better patient medical records since they deliver a more holistic picture of medical needs and history to both patients and physicians. VR technology also provides physicians with the potential to see the impact of certain procedures in real-time for better healthcare decisions.

The virtual reality market as it pertains to the healthcare industry is estimated to reach $7 billion by 2026, so you might see VR technology in the near future during a check-up.

2. High-risk job training

Firefighters, cops, soldiers - these are all workers who regularly face dangerous circumstances and may benefit from VR training to practice routine emergency procedures and learn the dos and don’ts in a consequence-free virtual environment. For example, a firefighter can learn emergency protocols without being in an actual burning building to test his or her knowledge.

Virtual reality provides job trainees with ways to learn in a hands-on way outside of textbook case studies. Research suggests that some people may learn best by doing rather than relying on abstract theory, so virtual reality may speed up the learning process for some trainees as an additional benefit.

3. Cinema and entertainment

Virtual reality is changing the entertainment landscape as we know it and producers, engineers, and film studios are noticing. 66% of consumers are interested in VR for TV, movies, and video which shows the potential for commercial VR growth as the technology grows less expensive over time.

And it makes sense why movie-goers and other entertainment-seekers are excited about the future of this technology, VR movies provide an expansive, sensory-filled experience that creates an immersive, more intense event.

Gaming is another area where VR is defying expectations. Virtual reality technology allows gamers to become the avatar instead of just controlling it and pushes the boundaries of the gaming medium itself. VR gaming revenue is expected to reach $19.5 billion by 2025 so gamers will continue to see advances and new VR-enabled gaming experiences.

4. Virtual tourism

New VR software enables users to visit museums and historical sites virtually so, instead of saving up thousands to visit Greece or Morocco, you can do the next best thing: take a virtual tour. It also provides educators with a unique way to explore the world with their students.

If you are actually traveling, virtual reality also offers the opportunity for users to tour hotels during the booking process.

5. Surgeon and medical student training

As mentioned earlier, VR and healthcare are going to be closely intertwined in the future. But another way VR assists health practitioners specifically relates to rare or complex surgeries.

Virtual reality software means that surgeons can hone their surgical skills in a virtual simulation before performing it on an actual patient. Likewise, medical students may benefit from virtual hands-on training that presents no risk or real-life consequences.

6. Shopping

You might already be familiar with the concept of virtual window shopping where you simply browse your favorite sites and favorite promising items to revisit later. Well, VR tech is being rolled out which provides even more instant gratification.

VR shopping software allows shoppers to window shop in a much more visceral way than just making virtual wish lists.

With consumer VR, customers can virtually try on clothes, remodel their homes, and “window shop” using VR for a seamless shopping experience.

Does HP offer VR-ready technology?

HP offers the HP HTC Vive with dual OLED displays with 2880 x 1600 resolution so the user can take in a natural field-of-view in their simulated environment. Adjustable and removable headphones with integrated noise-canceling audio deliver natural, crystal-clear sound. It’s the perfect VR device for professional training, designing, and healthcare applications.

In addition, HP offers a wide array of VR-ready laptops for on-the-go, mobile solutions so users won’t be confined to one particular area. Take your VR-ready products wherever your day takes you.

Takeaways: VR is here to stay

As VR technology grows more sophisticated and widespread, it will likely start influencing even more industries. The VR market revenue is expected to swell to over $9 billion by 2025, and HP is leading the way.

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