Virtual Reality (VR) and Augmented Reality (AR) Products and Innovations
28 March 2017
What is Virtual and Augmented Reality
Facebook recently presented their 10 year roadmap at their F8 Developer Conference. Facebook is a global communication innovator and is fundamentally rewriting how people communicate. customer expectations will continue to rise.
Facebook offers tools, APIs, and capabilities we can leverage and all of them have implications for the NAPC and our Contact Centres. This document summarizes the roadmap, capabilities, and implications for the North American Phone Channel Capabilities Roadmap.
Video Overview of Virtual Reality and Augmented Reality
- Heather Bellini of Goldman Sachs Research expects virtual and augmented reality to become an $80 billion market by 2025
- That is roughly the size of the desktop PC market today
- The AR apps read the GPS data on the smartphone to find the current location
- The AR app then determines the compass position where the device is
- The app then accesses a database to look for text, hyperlinks, pictures, and media content that have been tagged to the compass location
- The AR app displays the relevant content overplayed on a camera image
AR Digital Signage Image
- At live events, banners and signs are often hung around display areas and booths.
- What if you could turn these essential display pieces into a living ad to engage attendees?
- Emerson Industrial Automation used AR signage to take home the InterBev Award for Best Beverage Marketing Campaign.
- AR signage can launch a video like Emerson or create a chain of interactions like Baxter Pharmaceuticals did for its banner at a live event.
- AR signage can attract attendees at events, encourage them to interact with your event staff, and spend more time with your brand to potentially generate more leads or leave an impact.
67 percent considering Adoption of Augmented Reality (AR) in the Enterprise
- 67 percent said they are considering AR for future use at their organization
- 20 percent plan to use AR within the next 12 months
Common Application of AR
The various scenarios where AR is being applied in the financial services sector are listed below.
- Relationship Manager using AR to track customers in an area
- Relationship Manager using AR in exceptional conditions, like during a flood and hurricane
- ATM Locator
- Appointment Booking at a Branch
- Customer acquisition, loyalty, and marketing
- Property search- AR for home loans
- Auto insurance
Benefits of AR
Better cross-sales opportunities
- Ability to identify and blend real-world into cyberspace can help your bank cross-sell various credit products in a highly targeted way
- For example, customers waiting at an airport to check-in for a flight can quickly point their smartphone at the nearest image of his bank to buy a travel insurance policy
Reduced customer support costs
- Customers can easily locate and self-service traditional low-value transactions or non-transactions without calling customers supper with AR
- For example, locating the nearest branch or ATM, determining the working hours of a bank etc.
- Augmented reality can help a bank personalize a customer's experience,
Increased retention and potential for lead generation
- Augmented reality offers a highly effective way to capture the customer's attention, resulting in greater dwell time in one place
AR Initiatives at Global Financial Institutions (early-2016)
- Hole a Westpac MasterCard or Visa to the camera of your iOS device, the AR banking app shows you your recent transactions and spending trends – in 3D
- The app was developed from a winning idea in Westpac’s Global App Challenge, amongst hundreds of other creative, innovative entries
Moverio BT-200 Moverio (High Quality AR)
Meta (AR 3D Modelling To Go)
Vuzix M-100 (Monocular Display)
CastAR (Basic AR Glasses)
Samsung patents design for 'smart' augmented reality contact lenses
- The contact lenses would be controlled through eye movements and blinking
- Wearing the lenses would allow users to experience 'augmented' reality, with computer-generated images superimposed over the real world
- Since the device is so small, it's designed to connect to a smartphone for processing power
- According to the patent application, the contact lenses would provide much better image quality than existing smart glasses, as well as being far less bulky and intrusive.